Northern Beaches/Northern Suburbs first IP

[hakea]

Myself and my partner are looking to buy our first IP in either of these locations. We are looking at Dee Why, Freshwater, Manly Vale or alternatively the Lane Cover area. We are looking to spend approx $450k in total.

Not sure if this is too specific a question but would any of these areas be seen to go up in value more than the other.

We are hoping to find a 2bedroom apartment, with int laundary and a lockup garage.

The plan is to keep it for 5-10years, then move onto a house or another IP.

 

[chilliblue]

Do a search on those areas and you find loads of posts already supplied - many recent

 

[Propertunity]

Not sure if this is too specific a question but would any of these areas be seen to go up in value more than the other.

That's a perfectly reasonable Q and one that you should be asking as part of your due dilligence.

See attached chart. For what it is worth, there's not much in it either way for your choice of suburb from the ones you mention.

All the best with the search.

 

[hakea]

thanks guys. ill try the search function again and see what it comes up with.

propertunity-thanks for the graph. is that one of the services your business provides or is that from somewhere else? Also, i lived on the central coast area all my life until recently, would you project that the tuggerah area would increase in value phenomenally? Because for the same price as one apartment on the northern beaches, I could get 2 town houses in tuggerah area. hmmm intresting concept.

 

[Propertunity]

propertunity-thanks for the graph. is that one of the services your business provides or is that from somewhere else?

It is from one of the industry databases that we subscribe too as a business. We use it in the services we provide for our clients.

Also, i lived on the central coast area all my life until recently, would you project that the tuggerah area would increase in value phenomenally?

Our business does not do fortune-telling. But we do look at what has happened in the past and make comment on the balance of probabilities. Tuggerah units have underperformed those of Manly Vale - see attached graph.

Because for the same price as one apartment on the northern beaches, I could get 2 town houses in tuggerah area. hmmm intresting concept.

Based on past CG performance, if that continues into the future, you'd be better off buying on the Northern Beaches. However, please bear in mind that there are not all that many unit sales in Tuggerah to compare.

 

[nww]

thanks guys. ill try the search function again and see what it comes up with.

propertunity-thanks for the graph. is that one of the services your business provides or is that from somewhere else? Also, i lived on the central coast area all my life until recently, would you project that the tuggerah area would increase in value phenomenally? Because for the same price as one apartment on the northern beaches, I could get 2 town houses in tuggerah area. hmmm intresting concept.

If your referring to the townhouses in Mardi they seem to be on the market a lot
The federation style 2 bedders were selling for 199 a few years back and noticed
a 3 bedder the other day for 245 so would not think much gain.

 

[Propertunity]

The federation style 2 bedders were selling for 199 a few years back and noticed a 3 bedder the other day for 245 so would not think much gain.

...which is confirmed by the data that was used to create the chart.

 

[Jacque]

Myself and my partner are looking to buy our first IP in either of these locations. We are looking at Dee Why, Freshwater, Manly Vale or alternatively the Lane Cover area. We are looking to spend approx $450k in total.

Not sure if this is too specific a question but would any of these areas be seen to go up in value more than the other.

We are hoping to find a 2bedroom apartment, with int laundary and a lockup garage.

The plan is to keep it for 5-10years, then move onto a house or another IP.

Hi Hakea

Freshie and LC would be my two picks for your money- though you need to be realistic and realise that a two bedder is going to be very basic and most likely on a busier road for that money. Manly Vale has cheapies (Quirk Rd etc) but again be prepared to compromise. I'd also consider 1 bedders if you are able to as sometimes these can come with sunrooms or extra storage which makes up for the loss of the 2nd bedroom.

We bought for an investor client recently in LC- simple two bedder with undercover carspace nothing to do but move in at $425K. No internal laundry but had it's own one (plus storage) downstairs so all good there.
Best of luck with your search

 

[Marty McDonald]

I like Manlyvale but its based just on gut feel. There would be less units there as compared to say Dee Why which is probably a good thing IMO. Freshie is great too but very expensive. Lane Cove would be my last option.

Good luck with your searching,

Marty

 

[hakea]

Freshwater is lovely, but ive been reading in the paper about some 53mil development and I dont know if that would be good or bad for the area. I am not sure if it would be as easy to get rentals in Freshy because im not aware of any direct transport routes to the city in comparison to dee why, manly and lane cove.

 

[Propertunity]

Freshwater is lovely, but ive been reading in the paper about some 53mil development and I dont know if that would be good or bad for the area.

Development = good

I am not sure if it would be as easy to get rentals in Freshy because im not aware of any direct transport routes to the city in comparison to dee why, manly and lane cove.

Tenants are easy to find.

The biggest issue getting from the N Beaches into the city is the Spit Bridge and Military Road in the peaks. But there are buses......and not everyone needs to get to the CBD for work.

Lane Cove has Express Buses.

 

[Big Tone]

Freshwater is lovely, but ive been reading in the paper about some 53mil development and I dont know if that would be good or bad for the area. I am not sure if it would be as easy to get rentals in Freshy because im not aware of any direct transport routes to the city in comparison to dee why, manly and lane cove.

They recently got knocked back on the development.
Freshwater is a much better area than manly vale mainly due to its proximity to beach and community of freshie, but lacks a little in ease of transport compared to manly vale or dee why.