Another crazy weekend in Sydney...while I reside in Sydney and believe there are still some room to go, I start to wondering whether other area provide better value in terms of capital gain over mid term (2-5 years)? I'm not too sure about the affordability issue and whether some hot areas has already priced in growth for future years.
One area comes to mind is Brisbane. A lot people (incl on somersoft forum) say they typically lag sydney for growth, therefore it's a right time to enter. Not being in Brisbane recently, I'm wondering whether the ripple effect is the only factor at play, or there are other fundamental economic drive aligning in the right direction?
Another proposition might be Gosford NSW, which is about 1 hr drive from Sydney CBD or 45 mins from Hornsby. It got train line, hospital and local facilities, and commuting time to sydney is barely tolerable - as of now it seem to be an choice of retirees, but if sydney keep soaring maybe ppl will start to moving even further away?
Ok, the cons: for Brisbane, I think in last cycle quite some investor got burnt by QLD property, so this might deter ppl from entering, also for ppl who bought at last peak, they might sell once price are at their break even and this lead to more stock on market and selling pressure. Also in terms of ripples effect, it seems true that Sydney lead the boom while other cities follows, but I'm not too sure what happens when sydney start to cool? Do other city continue to boom or do they generally soften as well.
For Gosford, I think there are some level of state gov infrastracture planning there, but not as big as the 3 major project in NSW: northwest, southwest raillink and Westconnex. It seems the upper north and hornsby area missing out from last state budget, and there is no mentioning of F3 extension - so the commuting time to sydney won't be improved in the short-mid term I guess.
Here's my 2c. Not sure I'm on the right thinking process since I'm fairly new to IP. Please share you opinion and any comments appreciated
One area comes to mind is Brisbane. A lot people (incl on somersoft forum) say they typically lag sydney for growth, therefore it's a right time to enter. Not being in Brisbane recently, I'm wondering whether the ripple effect is the only factor at play, or there are other fundamental economic drive aligning in the right direction?
Another proposition might be Gosford NSW, which is about 1 hr drive from Sydney CBD or 45 mins from Hornsby. It got train line, hospital and local facilities, and commuting time to sydney is barely tolerable - as of now it seem to be an choice of retirees, but if sydney keep soaring maybe ppl will start to moving even further away?
Ok, the cons: for Brisbane, I think in last cycle quite some investor got burnt by QLD property, so this might deter ppl from entering, also for ppl who bought at last peak, they might sell once price are at their break even and this lead to more stock on market and selling pressure. Also in terms of ripples effect, it seems true that Sydney lead the boom while other cities follows, but I'm not too sure what happens when sydney start to cool? Do other city continue to boom or do they generally soften as well.
For Gosford, I think there are some level of state gov infrastracture planning there, but not as big as the 3 major project in NSW: northwest, southwest raillink and Westconnex. It seems the upper north and hornsby area missing out from last state budget, and there is no mentioning of F3 extension - so the commuting time to sydney won't be improved in the short-mid term I guess.
Here's my 2c. Not sure I'm on the right thinking process since I'm fairly new to IP. Please share you opinion and any comments appreciated