Looking at Bathurst NSW

[Lucky88]

Hi all

I am a newbie ready to take the plunge. Looking to buy in either a: Frankston Victoria, which has all the pluses, new road to be complete, near the beach, train line and has university near by, or b: Bathurst in NSW as Herron Todd white say this suburb is at the bottom of the cycle, so I am assuming this is an excellent time to buy.

Would appreciate any thoughts!

Thanks

Lucky

 

[skater]

Bathurst in NSW as Herron Todd white say this suburb is at the bottom of the cycle,

There are many areas in NSW that would be considered at, or near, the bottom of the cycle.

 

[topcropper]

There are many areas in NSW that would be considered at, or near, the bottom of the cycle.

I would think most country towns would be a lot further from the bottom than say Sydney.

I say this because country house prices had their big jump from about 03 to 06. Prices took off, after Sydney had peaked in 2003, and the cashed up 'smart money' took their Sydney profits and spewed out into the regionals. It was common for rural NSW house prices to have almost doubled from 03 to 06, while Sydney was flat or even dropping, but conversely, the bush did nothing from 99 to 03 when Sydney had it's big rise.

I find it hard to see rural house prices rising much, as the rental yields are nearly as bad as the city right now. But in 03, yields were very high.


To counter that, some rural towns are booming now with the soft commodity boom and mining going on, but best to pick the town. The little spot I'm in will have the best years ever in the next few.

The best investment by far has been acreage. Small blocks just out of town.

Just my thoughts.

See ya's.

 

[BayView]

At least you'd be close the the Race.

 

[Rixter]

Lucky,

1/ what is you chosen property investment strategy?

2/ why / how do these two areas fit into your strategy?

3/ what type of property are you after?

4/ and finally what is your purchasing criteria?

 

[Lucky88]

Investment strategy

Hi Rickster

Thank you for your reply.. In answer to your questionsL:

1.My strategy is to buy and hold in places I feel have good capital gain prospects and good supply of rental demand.

2.Bathurst is a growing town with plenty to offer including the uni, the race and the cannery. There seems to be plenty going on there.

3. Frankston has always been waiting to boom being so near beaches, more affluent suburbs right next door, still within commuting distance from town.

I am a NSWelsman but hate the land tax here.

Would appreciate your thoughts.

Lucky

 

[Rixter]

My strategy is to buy and hold in places I feel have good capital gain prospects and good supply of rental demand.

With the view to or exit?

what is your purchasing criteria?

What is your micro level criteria?

 

[Lucky88]

Looking at Bathurst

Hi Rickster

With the view to hopefully pick up a buy that will be worth more than I paid pretty much straight away. Use capital to reinvest etc etc.

Newish for depreciation maximisation. Or subdivision potential for capital potential. Plus what is popular in the rental market (obviously), for resale purposes, but wouldn't like to sell for at least five years, if at all.

Is this enough info???

Lucky