Just a silly question about Sydney/NSW

Hi everyone
I have just purchased 2 properties in Syd, still waiting to finalise my latest.

IP 1 - Sydney Western suburbs - yield 8.8%
IP 2 - Central Coast - yield 9%

The above properties were purchased with yield as 1st objective.

I am now chasing CG, dont care if it is a unit or house but I want huge growth within 6 month period. Price range $400-500K.

Can you locals please help me, the more I look the more I am confused.

I would like your thoughts on this, at least I will have some direction to start my research.

Cheers and thanks in advance, MTR
 
Good work MTR!

CG is out there, just need to find the right one thats cheap.

Buy something with the yield and in the lower parts of sydney. They will all get growth, something with land seeing your budget though. in FHG territory and something where theres immigration and infrastructure.
 
$500k might get you a house in Auburn on 600sqm. Only 2.5 suburbs west of Concord West/North Strathfield where the median price is $1m (albeit for a brick Federation/Californian rather than fibro). There was an announcement about Costco opening there. Bidded unsuccessfully at an auction in Lidcombe North a couple months back. Prices have definitely moved there.
 
$500k might get you a house in Auburn on 600sqm. Only 2.5 suburbs west of Concord West/North Strathfield where the median price is $1m (albeit for a brick Federation/Californian rather than fibro). There was an announcement about Costco opening there. Bidded unsuccessfully at an auction in Lidcombe North a couple months back. Prices have definitely moved there.

Hi Garbage,
I have been told prices have moved here. I did see something there with granny flat but it was well over priced at the time.

Cheers, MTR
 
If you want cap growth, look in the suburbs within 7km of Sydney CBD. They are expensive and the yield is crap but you say you want growth.

Balmain, Rozelle, Leichhardt et al are amazing.
 
Yield

Hi everyone
I have just purchased 2 properties in Syd, still waiting to finalise my latest.

IP 1 - Sydney Western suburbs - yield 8.8%
IP 2 - Central Coast - yield 9%

The above properties were purchased with yield as 1st objective.

I am now chasing CG, dont care if it is a unit or house but I want huge growth within 6 month period. Price range $400-500K.

Can you locals please help me, the more I look the more I am confused.

I would like your thoughts on this, at least I will have some direction to start my research.

Cheers and thanks in advance, MTR

Hi MTR, Could you give us an indication of the particular suburbs you bought into for IP 1and 2? I've got 2 IP's that are -vely geared, would love to get one with your sort of yield to offset my holding costs. Thanks
 
If you want cap growth, look in the suburbs within 7km of Sydney CBD. They are expensive and the yield is crap but you say you want growth. Balmain, Rozelle, Leichhardt et al are amazing.

Yeah, evand is right on the money on this. I'd add to that the Inner West suburbs of Summer Hill, Ashfield, Dulwich Hill, Petersham etc. all the way in to Newtown.

If you can pick up something unique like an Art Deco unit in a 4 pack (heaps of land value) so much the better. These have been selling for the high $400K's to very early $500K's but I saw one go off before auction 2 weeks ago for $570K and another company title one go for $625K. I reckon you may see another 10 - 20% CG in these areas this year.
 
I am now chasing CG, dont care if it is a unit or house but I want huge growth within 6 month period. Price range $400-500K.

I'm not sure where I'd suggest, but wanting huge capital growth within 6 months is a huge gamble. I think you need to take a longer term view of capital growth.

Pen
 
I'm not sure where I'd suggest, but wanting huge capital growth within 6 months is a huge gamble. I think you need to take a longer term view of capital growth.

Pen

Marisa (MTR) knows what she's doing. Don't take each word so literally. ;)
 
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