Hi what do you guys think of Forest Lodge/Glebe for 1 bedder?
Good growth and area to buy?
Thks
growth??? $0
id stay clear, my golden rule, is buy bread and butter, everyone needs staples.
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Hi what do you guys think of Forest Lodge/Glebe for 1 bedder?
Good growth and area to buy?
Thks
growth??? $0
id stay clear, my golden rule, is buy bread and butter, everyone needs staples.
Hi what do you guys think of Forest Lodge/Glebe for 1 bedder?
Good growth and area to buy?
Thks
Thanks guys,
The unit i was looking at had secure carpark and internal is around 40sqm. Close to Annandale village.
Anyway i did not go ahead as i wasnt so sure about the area but now i feel like i have missed out on it.
Many ppl had said to me when i find the right one i will feel it. Do you guys had such feeling when you first bought your own place?
Thx
Hannah
This is all well and good, and I agree, but my point is: why buy West when the percentages say buy Inner (or beachside etc)?
Can you mount an argument as to why Sydney's West is better than other regions? (apart from people who absolutely can't afford anywhere else?
The standout performer is extremely humble North St Marys, with a 2006 median house price of just $255,000, despite growth of 18.6 per cent a year over 10 years.
I'm positive on Western Sydney suburbs but I always wonder about statistics like that, well any CAGR statistics really. There's has been quite a bit of new development going on out there over the past few years which would skew the figures dramatically.
Do you know those suburbs? They're all new suburbs. They start off as pieces of dirt worth $80k. Then houses get built and they sell for $200+.
Do you know those suburbs? They're all new suburbs. They start off as pieces of dirt worth $80k. Then houses get built and they sell for $200+.
It's a convenient piece borne out of intent to mislead, or poor inconsidered research.
You can't tell me that established out suburbs over the long term have had higher growth than your Cottesloes, Point Pipers, Tooraks etc.
18.6% pa over 10 years? That means in 1996 the median house had to be worth approximately $30k.Well North St Mary's I believe was established around the 1950's. Not really that new. This was the suburb that was mentioned in the article as the standout performer.
Buck
ok something is not right with the quoted 10year growth figure for St Marys but the 10 year average is not a good indicator anyway, it's the long term average I am interested in.
Generally, the long term growth of property in a capital city irrespective of where it is located it is a few % above CPI levels.
The only better performers are the exclusive properties in rich suburbs or in unique locations and they are not suitable for my portfolio anyway.
The rest will compare with the following example.
If someone bought 3 properties in Sydney's west 20 or so years ago or 1 which will be of equivalent $ value closer to the city and did a price comparison after the recent boom the capital gain of the 3 vs 1 will be similar. I know because I've done that comparison.
Also, what people forget is that the yields for the 3 properties will be 2% higher than the yields of the 1 property (right now it is 5 to 6% out west or 3 to 4% closer in). so your long term savings will be lower and on 1 mil loan it's a $20K saving.
Since my out of pocket component will be smaller with cheaper properties I may even be able to afford 1 more IP so I can have a bigger portfolio than if I had bought 1 single expensive property. The lower out of pocket component means that those properties will become +ve geared quicker and this will allow me to grow my portfolio faster than if I had 1 single and highly unafortdable property.
Vacancies is also another thing to consider.
If you had a bad tenant or suffered a long vacancy with the 1 property it will kill your budget. A vacancy on a cheaper property means you've only lost 1/3 of your rent and the tenant pool is much higher so you will quickly find a new tenant.
Finally I'd like to say that it's up to each individual to choose what and where they buy and how they want to structure their portfolio.
You do it your way and I do it my way but don't tell me that your way is better because it's not. It's just different to mine.
What makes you think you are doing any different to me? I proved that the data supplied is a load of bollocks so now you're taken the high road and intimated that I am saying my way is better whilst you are not claming the same thing?Finally I'd like to say that it's up to each individual to choose what and where they buy and how they want to structure their portfolio.
You do it your way and I do it my way but don't tell me that your way is better because it's not.
It's just different to mine.
Clearly that's a stab at me amongst others. Maybe you overlooked two very important questions:makes me think how many people on SS nowdays, actually own property...
Clearly that's a stab at me amongst others. Maybe you overlooked two very important questions:
1. Why was I the only person to pick the stats in that article as a fraud? Everyone one else gobbled them up as fact.
2. Where did I get those purchase prices from? What are the chances a cheerleader has access to that data?
It is actually possible that someone with an alternate view to you may be more sophisticated that you. Food for thought.