Where to buy in Sydney area?

I'm new here, I'm happy I found this website. There is a lot of very good information. I'm here because I need some help. I'm looking for a landed property which will give very good capital return over 5-15 years. Unfortunately, my budget is within 500k, it's not much I know. But that's what I can afford now. So, I'm looking for location where has potential and fit my budget.

The only place I know so far is The Ponds, but it is very expensive now - for above 550k at least, I remember it starts with 450k in the past? The next problem is, the interest rate is going up, will the property price drop?

I prefer new property, it seems less hassle to buy. My thought is new property yield better than old property?

I'm definitely a newbie in property investment, any help is highly appreciated. Thank you.
 
The only place I know so far is The Ponds, but it is very expensive now - for above 550k at least, I remember it starts with 450k in the past?
You mean The Ponds out back of Kellyville? Sure there are a couple of H&L packages for around the $450K mark.

The next problem is, the interest rate is going up, will the property price drop?
No, it won't have much of an impact until we have 3.5-4% rises to get back to where we were 2 years ago pre-GFC, in my opinion.

I prefer new property, it seems less hassle to buy.
No. Same process to buy new or old.

My thought is new property yield better than old property?
No. You pay a premium for new and yields are generally (not always) lower than established property in established suburbs.
 
Thank you.

Do you think I should buy a land, then build the house myself, or just buy the built house?

Piston Broke,

May I know whereabout of the "West" areas you mentioned? Sorry, I'm not familiar with those.

Thank you!
 
Cat, I think you will find that neither Propertunity nor Piston were advocating new properties (my appologies guys if you were). There are plenty of properties around with good returns for much less $$ than you were thinking. Heck, you might even be able to get 2.:D
 
Do you think I should buy a land, then build the house myself, or just buy the built house?
It depends on many factors:
1. Is it cheaper to buy established at the time or to build (I've done both at various parts of the cycle)
2. Where do want buy?
3. What kind of housing already exists there?
etc etc

May I know whereabout of the "West" areas you mentioned? Sorry, I'm not familiar with those.
It starts once you get over the west side of the Anzac Bridge :D

But anywhere within 10 - 15 kms of Parramatta's CBD is good IMO.
 
Thank you.

Do you think I should buy a land, then build the house myself, or just buy the built house?

Piston Broke,

May I know whereabout of the "West" areas you mentioned? Sorry, I'm not familiar with those.

Thank you!

I'd look for a house with a granny flat, that way your yields will be higher

check out the following search results
on page 2 there is a house in Seven Hills,
Nice big block with future potential
a bit narrow for subdivision but ok for dual occ

http://www.domain.com.au/Public/Sea...e=1&keywords=granny&displmap=0&sort=price-asc
 
What search terms are you using? I have never been able to seach specifically for granny flats. I usually spend hours looking for that kind of info.
 
Thank you.
Do you think I should buy a land, then build the house myself, or just buy the built house?
Piston Broke,
May I know whereabout of the "West" areas you mentioned? Sorry, I'm not familiar with those.
Thank you!

One thing first:
If the "only place you know is the Ponds" your sure haven;t done your research.
Next, this forum has a "where to buy" section you just posted in. If you scroll past the first page the thread titles will tell which ones are relevant to your research and contain valuable insights.

Land + build: sheeet no! unless your pretty wise & experienced doing that or it's a ppor in your desired location.

Where is the west?
Get a map or print it out from googl maps. Draw a line from Penrith to Campbelltown to Bansktown to Parramatta. there's your west.
I prefer new property, it seems less hassle to buy. My thought is new property yield better than old property?
You mean the marketing is much more slicker and they are very keen to take your money. There's a reason for that.
Do your research.
If you really don't want to or dont have the time, then it's probly better you pay a buyer's agent, as you seem a markets dream atm.
 
If you're looking at 500K i'd do what Skater said, get 2 :)

And brand new, no difference really, it's like a new car, it looks better, but as soon as you walk out of the dealership say goodbye to 5K. New house doesn't always mean a greater yeild.

And you need to do more research, if you're looking kellyville area, consider all factors, transport, train stations, main roads, traffic etc.

You will be less likely to get a tennant if the amenities that they want aren't close by, especially of they don't have a car.

Also make sure you check the neighbourhood, parents bought a house a few years back, and sold it because the people around kept trashing the house, Just because it is a more prestigious area doesn't mean there aren't any trouble makers.
 
Thanks for the replies, I'll definitely check up.

I'm in dilemma as now I'm thinking to stay in myself for the property for a short-term, then rent out. That's why I also consider a new one as it will be more comfortable. But it looks liked it's too expensive and the yields are not great. The Ponds is new site, that's why I don't think I can check the neighborhood yet. The standhope garden is also selling, but it's close to the prison, which I'm afraid it is not safe?

For the transport wise, it is not convenient I think.
 
I do more check on the some areas near Parramatta and I get more confused.

Eg. Greystane, you can get 3bd rm single storey house at around 430k, the price range is about 430k to 500k. It's only 7km to Parramatta city.

E.g. Fairfield, same as above, about 400k too.

E.g. Auburn, about 5km to Parramatta city, it's also at the 430k price mark.

Look at Stanhope garden, it's 15km from Parramatta City and it's about 550k price mark.

Now, I'm confused, why such areas are cheaper?
 
Look deeper :).
Greystanes for example has no train line.

After you investigate transport, then investigate where the buyer demand is coming from and who / what kind of people are buying into the area & living there.

Toongabbie & Wentworthville for example have a large influx of people of Indian background and prices & rents have been booming for the last 6-8 months there.

See if they are paying cash or taking out mortgages.

That's all the hints you get for now :D
 
That's all the hints you get for now :D

Propertunity did leave out one important hint that should come for free - in Fairfield you'll get shot :p

I'm actually not sure it's that bad. Despite living in Guildford, I know very little about Fairfield. I do remember reading three weeks ago, however, that more drive by shootings have occurred in Fairfield in the past 12 months than anywhere else in Australia. Not exactly the best PR.

Cheers
Greg
 
Is there any website I can read more information about Australia Property?

E.g. Infrastructure future plan
E.g. Property Investment news
E.g. Property Investment hotsports

I started to realize my plan to buy in the Ponds might not be a good idea.
 
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