Hi all,
Purchased the Residex Sydney report yesterday and now I am completely bamboozled . I was considering both the inner North of Brisbane Albion, Lutwyche etc or Sydney. With Sydney being so flat for so long and the GFC problems fading, I have decided there would be a good place to invest and like the inner west Marrickville sort of area. My budget is around 350k and I am a sparky by trade and a renovator at heart so I am looking at 2 bed units in the older red brick small 8 or 10 packs that are around. I open the report and Residex are predicting 5years Sydney unit growth at around 1%+ and 8 years at 3%+ . Although I note the "band" that prices "could" fall between is +25% and -8% in 2010. The only unit suburb predicted that remotely gels with my thinking was Cronulla with predicted growth rates of 3% for 5 years and 4% for the next 8 years. Geez that will make an awefully long flat spell. I am in danger of "analysis paralysis" here anyone have any thoughts on Sydneys long term growth forecast? One of the top Residex housing suburbs is Bligh Park with 10% gorwth forecast.... No idea what would drive that, maybe Richmond RAAF base?
Purchased the Residex Sydney report yesterday and now I am completely bamboozled . I was considering both the inner North of Brisbane Albion, Lutwyche etc or Sydney. With Sydney being so flat for so long and the GFC problems fading, I have decided there would be a good place to invest and like the inner west Marrickville sort of area. My budget is around 350k and I am a sparky by trade and a renovator at heart so I am looking at 2 bed units in the older red brick small 8 or 10 packs that are around. I open the report and Residex are predicting 5years Sydney unit growth at around 1%+ and 8 years at 3%+ . Although I note the "band" that prices "could" fall between is +25% and -8% in 2010. The only unit suburb predicted that remotely gels with my thinking was Cronulla with predicted growth rates of 3% for 5 years and 4% for the next 8 years. Geez that will make an awefully long flat spell. I am in danger of "analysis paralysis" here anyone have any thoughts on Sydneys long term growth forecast? One of the top Residex housing suburbs is Bligh Park with 10% gorwth forecast.... No idea what would drive that, maybe Richmond RAAF base?