It depends why you're out to buy, what your property investing goals are, what sort of risk you can tolerate, what your income and career prospects are, and where you are in your life's journey. And that's just food for preliminary thought.
But, if you've got $850K to drop and want something like a 2 bedder with a garage, spend it in Surry Hills. You can walk into the CBD and crawl home from the pubs. It's what I do!
But, if you've got $850K to drop and want something like a 2 bedder with a garage, spend it in Surry Hills. You can walk into the CBD and crawl home from the pubs. It's what I do!
Historically, the lower north shore, inner west, and northern beaches have done ok for that sort of money.
5 years might be too small a window thoughn
I recall most planners would like a 10 to 15 yr window for resi property ?
ta
rolf
5 years might be too small a window thoughn
I recall most planners would like a 10 to 15 yr window for resi property ?
ta
rolf
wayward, I agree with the other 2 posters re suburb choice.
For $850K you can get a decent 2-3brm 1-2bath 1 car semi or freestanding house around any of the Inner West suburbs (including the East - Surry Hills etc), LNS. I'd avoid spending $850K on a unit - most of the top floor 2brm units with garages would be mid $500K's. Top floor in smaller unit blocks with views would go to $650K as would 2brm townhouses. 3brm townhouses to $750K max.
Actually you could get 2x waterfront houses on the Central Coast for $850k
That's got me thinking, why not split the funds and get 2 places: say, a $450K 2-bed, 1-car apartment somewhere within 10km of the CBD, and a good size house in some place like Newcastle (or even interstate)? Or even 3 ways, and really spread the love around?
east side of the city south side of the harbour but not past the airport.
If you are looking for capital growth within a 5 year period I would strongly recommend that you focus your attention within a 5km radius of Sydney CBD. Regional areas like the Central Coast and Newcastle have wider peaks and troughs. It is true they are in a slump at the moment but there is no guarantee of a pick up to give you significant cap growth within 5 years. Sydney inner ring is tried and true - there is always demand, even when the market slows. Just be careful that you buy quality property.
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central coast has long periods of no capital growth
I agree with you that there is more certainty of capital growth the closer you buy to Sydney CBD. The central coast has not shown any significant capital growth for close to the past decade. In 2001/2 you could buy a waterfront block in Point Frederick for about $1.2 mil. Now, ten years later, you can buy one for about $1.6 mil. You would have achieved a similar result putting that amount in the bank for ten years.
I agree with you that there is more certainty of capital growth the closer you buy to Sydney CBD. The central coast has not shown any significant capital growth for close to the past decade. In 2001/2 you could buy a waterfront block in Point Frederick for about $1.2 mil. Now, ten years later, you can buy one for about $1.6 mil. You would have achieved a similar result putting that amount in the bank for ten years.
not all waterfronts are the same
There are waterfronts and then there are waterfronts. A waterfront in Point Clare would cost about 850k. Absoulte Waterfronts in the wyong region cost about 600k. I think any waterfrontage costing less would not be desirable.
There are waterfronts and then there are waterfronts. A waterfront in Point Clare would cost about 850k. Absoulte Waterfronts in the wyong region cost about 600k. I think any waterfrontage costing less would not be desirable.
Real Estate generally (not just Central Coast) has long periods of low or no CG. In a typical 7 year cycle there are probably only 2 years of outstanding CG. The rest of the time it is flat, falling or rising a little.
