Sydney Northern Beaches

[ferdinandch]

Guys

I have been looking for my first IP. My eyes are in Hills and Northern Beaches. I have been bidding properties in Hills but unfruitful. The price has gone out of my range. I'm looking for 2 bedders unit/townhouse with price up to $550K to $570K.

However, as I am pretty much well informed with Hills, did quite a lot of research, I am quite clueless with Northern Beaches. What you guys think the prospect with investing in units in Northern Beaches? The suburbs within my preference, in order are:
1. Balgowlah and surrounding suburbs
2. Brookvale and surrounding suburbs
3. Dee Why

Please advise, what things I need to be aware of.

Thanks.

 

[see_change]

We gave up on the northern beaches late last year when it became realy overheated and prices started moving quite rapidly . We went to manly .... Q'land

I'd be surprised if you can get something " nice " in that price range .

Rule of thumb is east of Pittwater road . Brookvale is away from water so might have more luck though someone I know who bought there last year found out their neighbours are bikies . Luckily her hubbie has a Harley , so he is cool as far as the bikies are concerned....

The bus services are quite good so a lot of people are happy to commute to city in those .

If I was in the market , I'd probably be looking further north around narrabeen / monavale . I'm not sure what has happened in last few months , but late last year it hadn't moved as much as lower northern beaches .

Cliff

 

[ferdinandch]

Hi Cliff

I am aware that price is rising in Northern Beaches, however as compared to Hills, it is still relatively lower. At this moment the market is overheated and I am willing to wait it to cool down little bit. I have the money ready anyway for the down payment, however do not have to use it straight away as there is an offset account.

Narrabeen has some older units advertised for $450-$520K however I am not convinced the growth prospect there as it is pretty far from lower Northern Beaches.

I need probably consider investing interstate, I have no experience in it so will be more cautious although I used to live in few other states including QLD.

If I can get two bedders for <$600K around Balgowlah, do you think it is a good price?

Regards

Ferdinand

 

[see_change]

Hi Cliff

At this moment the market is overheated and I am willing to wait it to cool down little bit. I have the money ready anyway for the down payment, however do not have to use it straight away as there is an offset account.

Narrabeen has some older units advertised for $450-$520K however I am not convinced the growth prospect there as it is pretty far from lower Northern Beaches.

I need probably consider investing interstate, I have no experience in it so will be more cautious although I used to live in few other states including QLD.

If I can get two bedders for <$600K around Balgowlah, do you think it is a good price?

Regards

Ferdinand

Haven't looked at balgowlah so don't know , but it's obviously it closer to the city .

Re waiting to cool down... IMHO you'll be kicking yourself in six months saying "'600 k ...... B bbb but , it was only 480 six months ago , why didn't I buy that then " but that's just my opinion . Once the market starts moving it takes a lot to stop or slow it down , and there no massive dark clouds in the immediate future .

It just the current group of newbies who are investing in the market and contributing to the forum haven't seen a good market before and think that any movement is unusual . Prices do go up and it's rare for them to come back down.

The house next to the one my parents first bought in Australia just sold for 4 mill . They paid 27 k ... in 1970 .

Cliff

 

[cadence]

would you consider Lane Cove?

you can pick up a 2br unit in your price range

closer to city than Hills and Northern suburbs

relatively low vacancy rate

 

[ferdinandch]

would you consider Lane Cove?

you can pick up a 2br unit in your price range

closer to city than Hills and Northern suburbs

relatively low vacancy rate

My PPOR is near there, in North Ryde exactly.

I don't quite like investing in Lane Cove area, I looked at it, but quite oversupplied, and unsure why, the return has not been great. North Ryde on other hand, has been performing much better. Probably I'm wrong about the return.

 

[see_change]

My PPOR is near there, in North Ryde exactly.

I don't quite like investing in Lane Cove area, I looked at it, but quite oversupplied, and unsure why, the return has not been great. North Ryde on other hand, has been performing much better. Probably I'm wrong about the return.

Why not buy in North Ryde ... We've been looking there for several years , but when we were in buying mode we could never find the right property. That is one opportunity we saw and missed .

The railway is the thing that made it along with ongoing upmarket industrial development which people want to live near.

Cliff

 

[ferdinandch]

Why not buy in North Ryde ... We've been looking there for several years , but when we were in buying mode we could never find the right property. That is one opportunity we saw and missed .

The railway is the thing that made it along with ongoing upmarket industrial development which people want to live near.

Cliff

My PPOR is there, so I would like to diversify my portfolio. Especially in North Ryde, units are normally pretty old.

I saw few threads that when people ask about Northern Beaches, normally are suggested to buy somewhere else, is Northern Beaches that bad? The rental return there is very good, and I see the demand is there, and honestly, I could live there, but not in overcrowded Ashfield or Burwood. I understand it is for IP, but I'm not an extreme investor, I want to invest in good area, good return and decent CG.

 

[see_change]

Nothing wrong with the northern beaches . It's what you can get for you money and where on the northern beaches

I know the lower northern beaches has probably gone up 20 - 25 % in last 1-2 years , and the upper section ( I don't think ) has gone up that much . That's where i'd be looking.

Cliff

 

[datto]

Anything for around 350K around that way or should I go back to Boganville?
I don't like buying shoeboxes anyway.

 

[see_change]

What about this WATERFRONT THREE BEDDER in bayview .

235 K .

Seriously . Check it out .

( poster declares interest )

Cliff

 

[datto]

I liked the jazzy music in the video!

With my luck, if I rented this 3 bedda out, it could literally end up down the bottom of the harbour.

 

[see_change]

I liked the jazzy music in the video!

With my luck, if I rented this 3 bedda out, it could literally end up down the bottom of the harbour.

Actually there is an offer in on it at the moment ( I'm part of the syndicate ) . The guy in the berth next Door , had a boat which from his view point was the cheapest Waterfront in Sydney . Nice one Bed room unit , which just happened to have a sail and motor . He looked on it as a weekender . and he could take it anywhere he wanted ( on the water ) .

Cliff

 

[datto]

Excellent investment choice. No council rates and definitely no water bills, lol. Good luck with the sale!

 

[Scott No Mates]

Even though you're in North Ryde, check out West Ryde ir Ermington/Dundas/Rydalmere. The latter two have houses in the low six hundreds and plentiful new units/townhouses.