Where to Buy In Sydney
- Thread starter NNR
- Start date
For detached dwelling, $500k can only get you outer west or south (about 50km).. I have properties in sydney west.
This month I done a bank valuation on them. The minimum increase for the 12 months was 20%. This is a boom and should be avoided IMO. I don't mind this sort of increase for next 12months and the next, but you know this won't happen.
Your $500K could do well in Central and South Coast. I think these region felt multiple ripple effect in the past 12-24months, but may be still opportunities there.
$500k could also do very well in Brisbane (10-15KM) Adelaide (5-10KM) for detached dwellings.
This month I done a bank valuation on them. The minimum increase for the 12 months was 20%. This is a boom and should be avoided IMO. I don't mind this sort of increase for next 12months and the next, but you know this won't happen.
Your $500K could do well in Central and South Coast. I think these region felt multiple ripple effect in the past 12-24months, but may be still opportunities there.
$500k could also do very well in Brisbane (10-15KM) Adelaide (5-10KM) for detached dwellings.
So if you don't mind this sort of increase in next 2 years then why go interstate or outside of Sydney?
To the OP. There are different areas if you're dead set on sydney. Southwest, Blacktown, Penrith
It's hard to convince me that we can sustain a double digit increase year over year, let alone a 20%+ increase for the year.
I don't mind and would love to see this type of growth in my backyard which I have vested interest in, but this doesn't mean it will happen..
$500k is possible in Penrith/Kingswood/St Marys, but Blacktown may be difficult for detached dwelling.
I don't mind and would love to see this type of growth in my backyard which I have vested interest in, but this doesn't mean it will happen..
$500k is possible in Penrith/Kingswood/St Marys, but Blacktown may be difficult for detached dwelling.
How about a 1 bedroom apartment in Coogee with parking. We bought in Coogee 5 years ago and I have been keeping a very close eye on the market.
All those years the inner west was going nuts but there was limited growth in Coogee until 2013. Market probably up 25 to 30 % in last two years but I think it still has a fair way to go yet. I'm still looking for another 40% before this cycle is over.
The rental demand is so strong in Coogee aswell. We would not have missed a weeks rent in five years.
All those years the inner west was going nuts but there was limited growth in Coogee until 2013. Market probably up 25 to 30 % in last two years but I think it still has a fair way to go yet. I'm still looking for another 40% before this cycle is over.
The rental demand is so strong in Coogee aswell. We would not have missed a weeks rent in five years.
Hello Everyone,
Looking to Invest in Sydney. Any ideas/suggestion where is the best place to buy at the moment? Potentially long time investment and trying to keep under 500K.
Many thanks
I'm not an expert by any means but if I had a spare 500K I'd try and get a studio or 1 bed apartment as close to the CBD as I can.
vtt
I'm not an expert by any means but if I had a spare 500K I'd try and get a studio or 1 bed apartment as close to the CBD as I can.
vtt
I like your idea but I'd avoid a studio. Definitely 1 bedder. Sure you might be looking at slightly more than 500k for it but I think the growth potential for a studio is limited. Plus you would encounter not too dissimilar strata fees. (Or proportionally higher strata fees for the studio)
^ Campbelltown/minto area def a good pick for low $500k...i picked up 4 last year.
With a low/sub 500- brick home with great CG potential and lots of development/council gentrification happening.
- Campbelltown ( Personally i would avoid Ambervale/ Macarthur sq...for this budget anyway)
- Minto
- Penrith
- Werrington
- Kingswood ( try to get close to the hospital)
I'm not an expert by any means but if I had a spare 500K I'd try and get a studio or 1 bed apartment as close to the CBD as I can.
vtt
I concur, as close to the CBD = easy rent + decent CG ...but $500k won't get you much these days around the CBD....Budget really needs to be close to $600-650k min.
A big No to studios as well or anything under 50 sq meters for that matter.
Min 1 bedroom...if you can afford it 2 bedroom.
I bought a 1 bedder /1 car space in Chippendale in 2007 for $420k--now worth $680,000
Frd bough a studio (no car space) 1 year before me for sub $370,000 in Sussex st ( told him just cos it's cheap doesn't mean it's worth it
) ...today it's worth $450,000.With a budget of 500k....stick with a house in south west or west. OR a unit in Homebush west/auburn ( careful some units are black listed) ....OR townhouse in Liverpool/cabbramatta etc...
I've always liked that area for investing. Quick questions, have prices moved since then?
What kind of yields are you getting in the area Mick?
^ 5% yield ( brick home) but i bought for CG rather than yield...
I'm adding a granny flat for one of the purchase and the yield will shoot up to 8.5% or there about.
CG wise, it hasn't gone up that much yet - roughly $10k in 3 month ( $465k in Oct 2014 - Brick home - 600 sq meters flat land renovated). I expect CG to boom towards end of this year when most of the off the plan finishes...
I'm adding a granny flat for one of the purchase and the yield will shoot up to 8.5% or there about.
CG wise, it hasn't gone up that much yet - roughly $10k in 3 month ( $465k in Oct 2014 - Brick home - 600 sq meters flat land renovated). I expect CG to boom towards end of this year when most of the off the plan finishes...
You can get 3 or 4 bed free standing house at Plumpton, Oakhurst or Glendenning under 500k.
Penrith council has a planning proposal for land rezoning. The plan is yet to confirmed, cerain pockets have been rezoned to R3 - medium density. Property price increase for this rezone have not been reflected in my view..
When looking re or domain, use the interactive map in conjunction with the Penrith council rezone maps to identify the R3 zoning.
http://www.penrithcity.nsw.gov.au/O...bited-Citywide-Local-Environmental-Plan/Maps/
When looking re or domain, use the interactive map in conjunction with the Penrith council rezone maps to identify the R3 zoning.
http://www.penrithcity.nsw.gov.au/O...bited-Citywide-Local-Environmental-Plan/Maps/
Thanks for the feedback on SW Sydney area. Do you think through time the whole area could gentrify to become a little like the pricey hills area? I've noticed there's a few flashy off the plan apartment buildings that are going up in Liverpool.
Can you still get those sort of yields in that area?
