Sydney - where did you buy recently?

[FrankGrimes]

Good thread guys - keep it going!

Well done to all that have bought so far, looks like you have done really well. I'm suprised how high the returns are (Even in Pyrmont?!)

 

[troyhunt]

where did you find the $280K house in Guildford?

Try here for a start.

 

[troyhunt]

I live close to Guildford and I don't think this area has much potential in capital growth. Same as Granville it is very close to parramatta
and even closer to the city then guildford but because of the crimes
and they don't have big shopping centers compare to Fairfield and Merrylands.

Interesting comments re Guildford, certainly worth keeping in mind. Any info you can provide re crime or is the comment observational?

Will definitely look into Fairfield and Merrylands a bit further, thanks!

 

[troyhunt]

Interesting; median price change for Fairfield, Guildford and Merrylands has been almost identical over the last 20 years. All three have reversed a similar amount since 2004.

 

[BV]

Has anyone spotted any suburb with high yields on houses?
The best I can find is 5.5%.

 

[travelbug]

Hi, I bought a unit last month for $218. Rent $265.
I'm pretty happy with that.

One exactly the same as mine (one floor below) sold for $235 last week. Yeehah.

My other unit was purchased for $280 in 2004 and is now worth $330 minimum. Rent $280 but going up soon.

PPOR purchased in 1994 for $218. Now worth about $600 but we added a family room (Hills area)

I'm looking for an old house now to rent for a while then knock down (maybe) and build new or duplexes.

 

[Jacque]

Hi, I bought a unit last month for $218. Rent $265.
I'm pretty happy with that.

One exactly the same as mine (one floor below) sold for $235 last week. Yeehah.

My other unit was purchased for $280 in 2004 and is now worth $330 minimum. Rent $280 but going up soon.

PPOR purchased in 1994 for $218. Now worth about $600 but we added a family room (Hills area)

I'm looking for an old house now to rent for a while then knock down (maybe) and build new or duplexes.

Hi Lyn

Best council for dual occ at the moment is Parra council- in particular check out Northmead. Undervalued, in my opinion, esp considering the land sizes and proximity to transport, amenities etc.

 

[Cartoon]

mounty county represent hehehehehe
bought a villa in mountt druitt for 140k, needs a little work but once done expect rent will be approx aorund 200 pw.

 

[ziggy2214]

Hi Lyn

Best council for dual occ at the moment is Parra council- in particular check out Northmead. Undervalued, in my opinion, esp considering the land sizes and proximity to transport, amenities etc.

Jacque,
Why is Parra council good?
What do they allow more than others?
Cheers

 

[Lollie]

Times changes, mostly everything.

I was just looking at this previous post of mine. I've come a long way since then with regard to my sydney properties. The pyrmont unit is now worth about $700K and rents for $580pw. The levies are now $1,118 per quarter. The unit has never been vacant, apart from a 2 week change over once. I would love to hear about other people's experiences with their inner city properties over the past several years.

 

[vtt]

Bought a 2 bed Victorian terrace 3km from Sydney CBD on 92 sqm (yes yes, I know it's small) for a smidge over $980K in mid 2014. It is presently tenanted for $730pw with about 3.9% yield.

A very similar property in the same suburb but not quite as good location and slightly smaller land size just sold for $1.1m so am feeling quite chuffed right now.

Having said that it wasn't purchased for immediate rental return, it is for long term and potential for renovation with it becoming a PPOR at some point.

vtt

 

[JDP111]

Bought a 2 bed Victorian terrace 3km from Sydney CBD on 92 sqm (yes yes, I know it's small) for a smidge over $980K in mid 2014. It is presently tenanted for $730pw with about 3.9% yield.

A very similar property in the same suburb but not quite as good location and slightly smaller land size just sold for $1.1m so am feeling quite chuffed right now.

Having said that it wasn't purchased for immediate rental return, it is for long term and potential for renovation with it becoming a PPOR at some point.

vtt

hang on...I wouldn't be so pleased about this. Not too bad but not great either.
980k is a high price for 92sqm, and the yield of 3.9% isn't great either.
I cant see how much organic CG this will have with only 92sqm, and the yield isn't compensating for that either.
I wouldn't be reassured by the neighbour paying 1.1m, who knows ...that could have easily been an over-zealous buyer. It was a hot [ perhaps too hot] market after all.
Don't know, but I think 980k could have gotten you better deals elsewhere in Sydney- 980 is a fairly healthy budget. I agree in that your best bet now would be to add unique characteristics via renovation to this that would add to the future price, and that would certainly cost you a buck or two to make those renovations...

 

[Richard Feynman]

hang on...I wouldn't be so pleased about this. Not too bad but not great either.
980k is a high price for 92sqm, and the yield of 3.9% isn't great either.
I cant see how much organic CG this will have with only 92sqm, and the yield isn't compensating for that either.

Sound like you haven't been to Sydney in a while

 

[Lollie]

vtt, sounds good to me. That seems a typical yield to start for a good inner city terrace. I wish I could have afforded a terrace that's tenanted and with value add potential later on down the track. Which suburb?

 

[vtt]

vtt, sounds good to me. That seems a typical yield to start for a good inner city terrace. I wish I could have afforded a terrace that's tenanted and with value add potential later on down the track. Which suburb?

Thank you Lollie .. JDP111 were you 'poo poo'-ing me? Value is variable depending on your perception. As mentioned, the property wasn't purchased for rental return - there is a completely different motivation.

The property is in the good side of Glebe. Loads of potential, good street, right near PT, parks nearby and with rear lane access. In good condition now, but could do with some love and attention. It has plenty of original features in tact, but a 70s kitchen that shall be farewelled soon. After I posted I realised the land size is actually 95sqm not 92sqm - so there's an extra 3sqm bonus! Let's also be real here, 980K does not get you a quarter acre block in the inner city!

vtt