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From: Will G
I have been researching the Canberra market for an IP for several months now and can't seem to find a suitable one based on some yield calculations.
I am concerned that the Canberra market is close to or at it's peak and realise that I must pay the market price or less.
I am looking to hold the property/s for at least 10 years.
I have looked at the Weston Creek area for a while but the majority of houses are 25 - 35 years old and I can only get 5 to 6% gross yield. Most of them need some renovation and may not have a great deal of depreciation to claim.
I will be looking at a 1 year old 4 bed/en, DBL Garage townhouse in Ainslie on Friday. The asking price is 309K and is currently tennented at $400/week (6.6% gross yield)
I feel that the Ainslie property would make a good investment property because :-
1. Has a tennent already
2. Only 1 year old
3. Should have good depreciation (building etc )
4. Location is close to the centre of Canberra.
Any advice is welcome. Thanks
I have been researching the Canberra market for an IP for several months now and can't seem to find a suitable one based on some yield calculations.
I am concerned that the Canberra market is close to or at it's peak and realise that I must pay the market price or less.
I am looking to hold the property/s for at least 10 years.
I have looked at the Weston Creek area for a while but the majority of houses are 25 - 35 years old and I can only get 5 to 6% gross yield. Most of them need some renovation and may not have a great deal of depreciation to claim.
I will be looking at a 1 year old 4 bed/en, DBL Garage townhouse in Ainslie on Friday. The asking price is 309K and is currently tennented at $400/week (6.6% gross yield)
I feel that the Ainslie property would make a good investment property because :-
1. Has a tennent already
2. Only 1 year old
3. Should have good depreciation (building etc )
4. Location is close to the centre of Canberra.
Any advice is welcome. Thanks
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