sydney- surrounding top 10

[BV]

I thought the usual progression is that newcomers come to Sydney, and then existing residents move out to the other cities.
Alex

Actually I believe that the entry point system is such that new migrants have to live elsewhere. If they choose to live in Sydney it's harder to get a visa.
Cheers

 

[stumunro]

Harder but not impossible, Sydney still has massive influx of migrants, but I think this should be close to balancing out. As people move interstate, including migrants, they tend to bring other relatives from overseas to these areas and, over time, the news spreads that other areas might be easier to move here and live than in Sydney. That's the way I see it anyway.

 

[Ralph]

Any thoughts on a little further North..Manly?

I used to live there and access to the city for work via ferry / Jetcat was great.

I haven't done any research yet... and will do alot before jumping, but in general I'd assume (inc. caveats of unit type / price bracket), strong rental demand - though can be a bit seasonal, and good long-term growth if you're anywhere near ferry and beach?

Any thoughts?

Also, I live in Singapore at the moment so will be doing it remotely. If anyone has a buyers advocate or RE agent they trust, I'd be interested to hear.

Cheers,

Ralph.

 

[angelnot1]

NSW population -in and out ....

I had to write a research paper recently and the fact is that 24,000 people per year leave NSW and most of them are under 34! You can check that on ABS.

While there is also in-migration I am not sure how well it balances out and what implications there are for property investments.

 

[devo76]

I had to write a research paper recently and the fact is that 24,000 people per year leave NSW and most of them are under 34! You can check that on ABS.

While there is also in-migration I am not sure how well it balances out and what implications there are for property investments.

My understanding of this was the drain is being caused by the resources boom in other states and the expense of living in sydney.Well now many other states are catching up as far as expense goes. People moved form sydney to brisbane and the like because it was way cheaper.That is rapidly changing.And what about when the resources boom slows. All those people are not going to get alternate jobs at the same location. I think you will see a flood of people back to the east coast.But that could be some time off yet.