Questions from the U.K.

[Stem]

Hi from the U.K.

I was given this link by someone on the housemouseuk property board, as they thought you might give me some advice.

My daughter and boyfriend are in the sydney area at present and are will be looking for jobs and accomadation soon. Probably in the Sydney area for the next year.

I have suggested that I buy a property and they rent it, so the question is are the yields in Sydney good enough to make this a viable proposition. As a foriegn investor does the property have to be new, and any other legal problems I might come across. I there any 'growth' left in any areas of Sydney if I needed to sell it after the year is up and if I kept it what sort of arrangements do you have over there for 'hands off' property management.

Also if anyone needs a good graphic designer / account manager or website designer (recent bafta award winner for Habitat site) for the next year either email me or check out their website at www.mypeter.com.

Hope you don't think me to cheeky for invading your board, but i'm sure you would get a warm welcome on the U.K. one mentioned above if you want to swap some ideas etc.

Regards

Steve

 

[Sim]

Welcome Stem !

In many areas closer to the Sydney CBD, rental yields for units are well below 2% at the moment - we've had great growth recently, and rents have dropped off significantly due to oversupply (or more the point, unddersupply of tenants !).

That being said, if you have the time to do the research, and can buy well, I'm sure you can find stuff approaching the more acceptable 5% yield range. Once upon a time, yields in Sydney averaged over 7% - but I think that was before I was born

 

[yeslist]

Hi Steve
In your situation, it is probably a better time to rent than buy in Sydney at the moment because you can pick and choose and bargain your way to good accomodation but that depends on your preferences and the length of time you wish to invest in this country. The situation could change though as more people from around the world start to discover the great Australian lifestyle.
Kind regards
Simon