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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.
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
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
Have you looked around campbelltown area? Could have some opportunities sub 500k.
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
^ 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)
^ 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...