Nothing is going to change in the next couple of weeks I assure you. This has got all of this year and next year to run at least, IMO.
Book your ticket to Brissy now if you don't want to play.
Is there anywhere in Sydney that is not screaming hot?
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Nothing is going to change in the next couple of weeks I assure you. This has got all of this year and next year to run at least, IMO.
Book your ticket to Brissy now if you don't want to play.
Yeah, I would have to agree. While the prices have firmed, certainly not like western Syd. This could be due to the amount of land opening up through Edmondson Park and beyond??
Nothing is going to change in the next couple of weeks I assure you. This has got all of this year and next year to run at least, IMO.
Book your ticket to Brissy now if you don't want to play.
Just settle, and secured tenant.. One vote for brissy yehaaaa!!!!
Book your ticket to Brissy now if you don't want to play.
Done and dusted . Just waiting for settlement(s)
Cliff
Some interesting auction results mentioned in this article
http://smh.domain.com.au/real-estate-news/sydneys-rising-tide-20130928-2ukxp.html
An unrenovated Redfern house (2 bedder in Mount Street) sold for $821,000
http://smh.domain.com.au/real-estate-news/sydneys-rising-tide-20130928-2ukxp.html
An unrenovated Redfern house (2 bedder in Mount Street) sold for $821,000
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While I just have 4 houses settled in QLD (Brisbane and Sunshine coast), I am still thinking Sydney is the best location to buy now for someone who has few properties, because:
1. It still has some room to grow;
2. Huge demand on buying and renting;
3. Very friendly development council and
4. All renovation costs, management costs are much cheaper in Sydney,
5. plus granny flat can be rented out separately while it is illegal to do so in Brisbane.
1. It still has some room to grow;
2. Huge demand on buying and renting;
3. Very friendly development council and
4. All renovation costs, management costs are much cheaper in Sydney,
5. plus granny flat can be rented out separately while it is illegal to do so in Brisbane.
Momma
Might be a couple of typos in that
Shouldn't you have out Brisbane where you put sydney . Sydney's councils generally are not pro development , and it's more expensive than in Brisbane for renos , not cheaper .
Cliff
Was just about to say the exact same thing regarding those 2 points, it must be a mistake.
I have a big garage in Blacktown council and get approved to be converted as 3 bedroom dual occupancy without issues.
I can convert a big garage or put a granny flat in the back of my property in Sydney. It just needs one or two weeks to get all paper work completed.
To do above, the total budget is less than A$110K in Sydney as I have a team for this.
Well, I can't find a way to have dual incomes in Brisbane property legally even though the house I have is in the land of more than 960 square meters. I just feel everything is more expensive in Brisbane, including management fee. They charge 8% even though I manage to get 6% because the agent is managing 3 properties for me.
In Sydney, I pay 5%.
The council fees and insurance fee seems higher too in Brisbane.
I need a little bit renovation in Brisbane. The quote is a little bit more expensive. The agent is getting another one.
I can convert a big garage or put a granny flat in the back of my property in Sydney. It just needs one or two weeks to get all paper work completed.
To do above, the total budget is less than A$110K in Sydney as I have a team for this.
Well, I can't find a way to have dual incomes in Brisbane property legally even though the house I have is in the land of more than 960 square meters. I just feel everything is more expensive in Brisbane, including management fee. They charge 8% even though I manage to get 6% because the agent is managing 3 properties for me.
In Sydney, I pay 5%.
The council fees and insurance fee seems higher too in Brisbane.
I need a little bit renovation in Brisbane. The quote is a little bit more expensive. The agent is getting another one.
Saying that Sydney has a very friendly development council over Brisbane just because a granny flat conversion is easier in Sydney is not a good comparison.
How about all the other types of multi dwelling development which covers probably the other 97.5% of all developments, I'd say Brisbane is more friendly for those.
How about all the other types of multi dwelling development which covers probably the other 97.5% of all developments, I'd say Brisbane is more friendly for those.
Talked to a developer in Brisbane . He said comparable building costs in sydney were close to double....
The price I saw for new builds I saw in Brisbane , seemed much cheaper than in sydney .
Cliff
The price I saw for new builds I saw in Brisbane , seemed much cheaper than in sydney .
Cliff
Sorry for the misunderstanding.
I never intend to do any development within next 10 or 20 years and just as a mum and dad investor with "buy and hold" strategy. In order to hold for long term, I have to get enough income, prefer dual incomes, from each house.
This situation is suitable to at least 95% of investors.
In saying so many good things for buying in Sydney, I don't believe many of the investors will buy any in Sydney simply because the price is really too high and not many property can have a reasonable return comparing to buying in Brisbane. Some of my last purchases in Sydney are doubling just within few years time. At least, I won't buy in Sydney any more.
All in all, if anyone is still able to find a good deal in Sydney, go for it. Otherwise, move to Brisbane or Brisbane outer suburbs early.
I never intend to do any development within next 10 or 20 years and just as a mum and dad investor with "buy and hold" strategy. In order to hold for long term, I have to get enough income, prefer dual incomes, from each house.
This situation is suitable to at least 95% of investors.
In saying so many good things for buying in Sydney, I don't believe many of the investors will buy any in Sydney simply because the price is really too high and not many property can have a reasonable return comparing to buying in Brisbane. Some of my last purchases in Sydney are doubling just within few years time. At least, I won't buy in Sydney any more.
All in all, if anyone is still able to find a good deal in Sydney, go for it. Otherwise, move to Brisbane or Brisbane outer suburbs early.
Having some props in Brisbane and Gold Coast, I'd have to agree with ToGetProperty. Not sure about council fees but reno costs (don't know about new builds) are more expensive up north pound for pound particularly for the interstate investor. Learnt the hard way.
I'm in the same boat - would like to buy in Syd but its doesn't 'feel' like good value.
I'm in the same boat - would like to buy in Syd but its doesn't 'feel' like good value.
Vacancy rates 1.1% and 1.9% (SQM research).
Yes, there is downward pressure on rents (and a number of rentals on market) ; with a lot of tenants purchasing their own homes, as well as people selling to investors and upgrading homes.
Thanks for the confirmation. We're just researching for IP2 so we'll have to factor this in and maybe cast the net a bit wider. I like the look of the two properties that LoneWolf just posted and Penrith has a few options for units and townhouses too but at a higher price point and slightly less of a return.
I think these may have been sold by now - but nothing wrong in asking the question.
For the unit - this agent appears to under quote properties just to get interest - but again might as well try.
Penrith is more expensive - however in the longer run it may pay off given it is declared a regional city where as Mt Druitt is only a planned major centre.
Stock is low at the moment.
It appears that the Penrith region is not as hot as Mt Druitt. But I could be wrong.
