Ok I think I've broadened my search and am looking at an older style 2 bedroom apartment at Coogee, Queensliffe or Freshwater Beach vs house at mays Hill, Seven Hills, Kings Langley, Pendle Hill areas....I have about $750k to play with. In terms of CG what do you think will do better ??
Unit at beach or House Syd West?
- Thread starter Puma1355
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they're not making any more beaches so I would be looking beachside including Dee Why which has great facilities.
They are diff markets and both would do well. With 750k to spend you can buy well in all the areas mentioned. Yield is not too shabby either. I would go for the beaches if just buy and hold. As Scott said limited supply of beaches.
I'm going to go the other way. If you were asking this question 15 years ago, the answer would have been a house in Blacktown, which has out-performed a unit in Dee Why from a CG perspective.
The trick is knowing what will happen in the next 15
The only things I don't like about Dee Why is:
Lack of train line.
The Spit bridge.
Military Rd turns into a carpark in peak hours.
The trick is knowing what will happen in the next 15
The only things I don't like about Dee Why is:
Lack of train line.
The Spit bridge.
Military Rd turns into a carpark in peak hours.
actually that was supposed to read $650k.... I went for a drive to Dee Why today. Lots of older units on the beach side of Pittwater rd, its built up quiet nicely. Cafes and restaraunts on The Strand, a big shopping centre with Coles, local RSL and new apartments starting being built on Pittwater Rd.... Queensliff and Freshwater have limited stock under $650k. There are a couple on sale however very very shabby buildings and cannot walk to the beach...
West Suburbs has gone through the roof at moment and not sure if im panicking more than wanting to buy in the area. Just think beaches are always in demand vs West who have certain buyers interested i.e mainly new Australians.... it's a toughie. I might go down to Cronulla and suss things out there as well....
West Suburbs has gone through the roof at moment and not sure if im panicking more than wanting to buy in the area. Just think beaches are always in demand vs West who have certain buyers interested i.e mainly new Australians.... it's a toughie. I might go down to Cronulla and suss things out there as well....
Are you suggesting a house in Blacktown are surrounds is the way to go now ?I'm going to go the other way. If you were asking this question 15 years ago, the answer would have been a house in Blacktown, which has out-performed a unit in Dee Why from a CG perspective.
The trick is knowing what will happen in the next 15
The only things I don't like about Dee Why is:
Lack of train line.
The Spit bridge.
Military Rd turns into a carpark in peak hours.
No, I'm not saying one way or the other. All I am saying is that people usually buy property as an investment vehicle for capital growth and if you were making that decision 15 years ago, you'd have done better with a Blacktown purchase.
If you want to hedge your bets at this point, buy one of each and come back in 10-15 yrs and let's see what happened
I would definitely lean towards a beach unit, but only Coogee.
I think the access to the city for those Northern Beaches examples is an issue.
Tenants with high disposable incomes want to live close to the city and close to the beach.
Coogee ticks both those boxes.
Very few new units getting built in Coogee also, whereas Northern Beaches is far less developed and I know of hundreds of new units currently getting built there.
Your budget should also ensure you are able to buy in one of the better blocks and better pockets in Coogee
I think the access to the city for those Northern Beaches examples is an issue.
Tenants with high disposable incomes want to live close to the city and close to the beach.
Coogee ticks both those boxes.
Very few new units getting built in Coogee also, whereas Northern Beaches is far less developed and I know of hundreds of new units currently getting built there.
Your budget should also ensure you are able to buy in one of the better blocks and better pockets in Coogee
How about Collaroy/Dee Why area? 650K mark on units there. I like Manly beach.
Which area do you work? Do you mind the commute?
Just adding my 2cents worth.
Which area do you work? Do you mind the commute?
Just adding my 2cents worth.
It is a very tight market almost everywhere in Sydney presently. Don't let that put you off.
Just before Christmas we purchased a 2brm unit in Clovelly with great ocean views (and of the surf club and ocean baths) for $670K in a small block of 9. There are always opportunities to be found in any market if you know where to look.
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