Recommendation NSW under 400k

vaughan said:
Except the house in ACT will likely be leasehold, not freehold.
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I don't understand the problem you're implying for leasehold in the ACT?
  • There is no option for anything other than leasehold in the ACT, so this is factored into pricing essentially making it identical to any other location. I do agree that if there was a differential in the ACT with some being leasehold and some not there there could be issues, but the closest non-leasehold is Queanbeyan, Murrumbateman/Yass, Gunning or [North] Cooma, and yet the difference in prices doesn't appear to effect the prices between Canberra and any of them.
  • The leasehold is 99 years, and most properties still have a *lot* of 10 year cycles left before nearing that.
  • The likelihood of the ACT government - beholdern to the electorate in the usual cycles - doing anything except renewing or extending the leases at the end of 99 years is so remote IMO as to be risk-free
  • I haven't personally or in writing seen anything to suggest lending in the ACT suffers due to the leasehold nature (Govt policy in certain areas perhaps, but not due to the leasehold system)
  • There's even a benefit - at least for some people - in that IP stamp duty is immediately deductible rather than adding to the cost base
 
Azazel said:
Maybe you searched for Canberra City (suburb).
http://www.realestate.com.au/property-house-act-holt-118985271
http://www.realestate.com.au/property-house-act-bonner-119246211
http://www.realestate.com.au/property-house-act-dunlop-119044007
http://www.realestate.com.au/property-house-act-charnwood-119008059
Some people do commute. If I had to pick between a house for the same price in Goulburn or Canberra, it would be a pretty easy choice.
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One advantage I've heard for Goulburn is speculation on the high speed rail. With the rail finally going to Redcliffe in Qld - how many years has it been promised for?! - and the Sydney second airport decision published, perhaps there's hope for more fairies to be found :D.
 
Mooze said:
Given the main employer in port mac is awaiting their final aer determination to figure job losses that's an interesting pick. There's four new suburbs going in though on the western fringe and numerous on southern fringe.
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Port is very patchy. From an investors point of view low vacancy. But if things get rocky elsewhere in the state, the real estate ads in domain contain classic phrases like need to sell. Also because of the large retiree population, a large number of sales because of death or needing to go into aged accommodation occur. Coffs might be a better choice. Get in now before the double laning of the Pacific Highway between Port and Coffs is completed. If Hexham is bypassed as per the election promises both Port and Coffs might pick up. Country Energy, as it then was, consolidated a lot of staff to Port in the mid noughties so it stands to reason a lot of jobs will go, though there has already been some downsizing over the past 2 or 3 years.

Dubbo is the natural catchment for a lot of western NSW and has the Zoo for tourism as well as being placed on the junction of the Mitchell and Newell Highways.
 
mcarthur said:
One advantage I've heard for Goulburn is speculation on the high speed rail. With the rail finally going to Redcliffe in Qld - how many years has it been promised for?! - and the Sydney second airport decision published, perhaps there's hope for more fairies to be found :D.
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Does high speed rail achieve what it is meant to if it stops every 100 km or so?
 
Azazel said:
First time I've heard this, do you have a link to any details?
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There's a few references on somersoft:
Jamie here, Keentobuy here, just being a couple of quick ones I found via search.

I haven't done it myself, since my new house has turned into PPOR rather than going through the IP step first as I had thought :(!
 
jrc said:
Does high speed rail achieve what it is meant to if it stops every 100 km or so?
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Well, at 300kph lets pretend, that only means a stop every 20mins. I'd be happy stopping once every 20mins!
Given Goulburn would be 40mins from "Sydney", I reckon there would be a lot of interest in commuting whatever the rail/govt would want. Of course the definition of how such a train would navigate at sufficient speed into Melb and Syd is much more of a problem - who wants to get from Syd outskirts to Melb outskirts in 2 hrs if it takes another hour to get out of Syd Central and another hour to get to into Melb centre!

Of course goulburn wouldn't be the only winner, as speculation has gone, but it's probably the best example in NSW of a lower cost area suddenly (well, with many years of leadup!) within reach of Sydney. Mittagong/Bowral doesn't count as the housing prices there are already much higher than Goulburn, while North of Sydney also has higher prices and growth.
Further on South, Yass is just that bit - 20mins? - too far.
Given location, Albury-Wodonga is likely to be another hot place in such a situation.
 
Re: High Speed Rail to Goulburn/Canberra ... Don't hold your breath. I live in Goulburn and the subject is often discussed in the local paper, but no one really believes it will ever happen. I've also spoken to a few mates who work for the railways and they haven't heard anything yet.

I remember living in Canberra from 1992 until 2001 and high speed was being mentioned back then and it's still being talked about. I don't think any Govt either state or federal is willing to foot the bill for the infrastructure.

Goulburn is a terrific place to live and has good prospects for continued capital gain, but don't count on the Fast Train being one of the drivers.

As a side note: anyone looking to invest here .... property prices have jumped in the last 6 months with quite a bit of buyer competition and r/e agents bumping up prices. A shortage of listings plus plenty of investor interest especially for character homes is creating keen competition also.

I think it coincides with an article recently in API mag rating Goulburn number one spot for property up to $350,000. With a projected average growth of 6-8%pa for the next 5-8 years (can't remember the exact details, but it was impressive).

However .... still some good buy's to be had in the low end. Plus some agents are getting a bit to keen and after a few weeks are having to do price reductions back to fair market value. Do your research.

Mystery
 
cceasy said:
Hi all,

I'm looking at purchasing an investment property and looking for recommendation for best areas under 400k... I also want to build a granny flat on this new property as well... Capital growth is important but from a long term perspective... does anyone have any recommendations?
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If you've said under $550 there would be a few good options in Sydney. For under $400k I would look elsewhere, e.g. Adelaide. You can get a great, renovated 2 bedroom single story unit with a garage in a small group for under $400k and within 5-6km from CBD, in great suburbs and close to top schools, restaurants and shops. yield around 4.6-4.8%, strata usually around $300-450 per quarter...
 
The current recommendation does not include a station at Goulburn. There is plans for a depot there I think, but no passenger station.
 
Logica said:
If you've said under $550 there would be a few good options in Sydney. For under $400k I would look elsewhere, e.g. Adelaide. You can get a great, renovated 2 bedroom single story unit with a garage in a small group for under $400k and within 5-6km from CBD, in great suburbs and close to top schools, restaurants and shops. yield around 4.6-4.8%, strata usually around $300-450 per quarter...
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What would you suggest under 550 in Sydney?
 
cceasy said:
Hi all,

I'm looking at purchasing an investment property and looking for recommendation for best areas under 400k... I also want to build a granny flat on this new property as well... Capital growth is important but from a long term perspective... does anyone have any recommendations?
Click to expand...

Port Macquarie is a great place to invest at the moment. I own nine properties in the town and I can't believe the demand for rentals at the moment.

To give you an example; I recently listed a 3 bedroom unit for $320 and I had 40 people call up within three days. Crazy!!!

This demand is due to the highway work contracts, numerous health care projects and a large university development. The Uni development will see an extra 3,500 students (plus staff) live in this town.

The other major growth driver is the baby boomer retirement shift from Sydney to Port Macquarie. I believe this town is due for some strong growth over the next decade as the population expands.
 
cceasy said:
Hi all,

I'm looking at purchasing an investment property and looking for recommendation for best areas under 400k... I also want to build a granny flat on this new property as well... Capital growth is important but from a long term perspective... does anyone have any recommendations?
Click to expand...
Granny Flats can be a good way to increase the return, but pick your markets, esp in regional towns where people are not used to living on top of each other, these can be a detracting feature. If can have its own access and services maybe not so much of a problem. But look at the costs verses benefits before you spend you hard earned.
 
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