Hi all, A friend is asking me advice on buying a new unit in Dee Why Sydney - problem is I know nothing about the Sydney market.. The numbers don't look too bad.. Brand new 2bed, 2bath, 1car for $480k. He is also eligible for the FHOG = 24k. There is no lift in the building so the strata is pretty good 370/qr and council rates about the same. The re agent suggested 520/wk is the going rental rate.. Not sure how to confirm this other than looking for available rentals on re.com?? Also the vacancy rate for apartments in Dee Why - not sure how to check this? I'm calculating a rough net yield of (520x52x.92) - (370x4)x2 / (480-20) = 4.8% with very good depreciation. I'm also telling him to stay away from the new rendered buildings as I think they have been done to death and will look out of style in 5yrs and likely needing patch up work... Interested to hear your thoughts.