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5th property - where to invest?

Discussion in 'Where to Buy' started by AlexV, 10th Jan, 2017.

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Where to invest in 2017? House - purchase price $700K-800K

  1. NSW

    2 vote(s)
    6.1%
  2. QLD

    17 vote(s)
    51.5%
  3. VIC

    14 vote(s)
    42.4%
  1. AlexV

    AlexV Member

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    Hi all,

    Finally my first post in Property Chat! I am planning to purchase an IP this year but I am still not sure where. I have 4 properties in Sydney so I was thinking about buying in QLD or VIC. However I may still consider buying in Sydney western suburbs which may see growth with the construction of the new airport. I've got a long term strategy (around 10 years) with focus on growth rather than cash flow. My budget would be around $700K-$800K (probably a house). Do you have any recommendation? I am not familiar with QLD or VIC so I may need a BA to assist.

    Thanks everyone!

    AlexV
     
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  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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  3. bobbyj

    bobbyj Well-Known Member

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    Regional melbourne?
     
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  4. MTR

    MTR Well-Known Member Premium Member

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    Melb, but buy at or below the FHB cut off at $600K.
    There are still some good pickings in areas relatively close to CBD. If you can source potential deve site will help long term growth if holding.
     
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  5. fols

    fols Well-Known Member

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    Great work on 4 properties in Sydney- well done. You now need to diversify. Agree with BNE & MELB.
     
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  6. bobbyj

    bobbyj Well-Known Member

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    Hi MTR,
    What areas can you suggest?
     
  7. MTR

    MTR Well-Known Member Premium Member

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    west and north
    Look at Broadmeadows, Dallas, Jacana .... I have not looked for a while but these are or were affordable, on the nose areas with locals, many development blocks, look for properties close to rail. these may still represent good value.
     
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  8. D.T.

    D.T. Adelaide Property Manager Business Member

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  9. AlexV

    AlexV Member

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    Thanks everyone for your answers!
    Any recommendation for a good Buyer's agent in Melbourne area?
     
  10. MTR

    MTR Well-Known Member Premium Member

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    Its very interesting, suddenly everyone is waking up to Melbourne, don't you love it, been flying under the radar on PC and booming since 2013, same time Sydney started booming. Been banging on it long enough but the herd went to Brissy for whatever reason... and missed some spectacular growth

    Question though is it too late? I don't know? I would look at bread and butter areas to reduce risk
     
  11. Al1979

    Al1979 Well-Known Member

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    I like Lalor. It's below your price range but also in that sweet spot for FHB. Yield is usually below 5% but I think growth will be fantastic over the next three years and beyond. This is just a recommendation of a suburb for you to do your own DD on, please don't buy without researching.
     
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  12. MTR

    MTR Well-Known Member Premium Member

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    Lalor has had some serious growth, with developers jumping in. I guess the case everywhere, there must be some hidden gems no one knows about;)
     
  13. Perthguy

    Perthguy Well-Known Member

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    If I was buying now I would be looking at Adelaide too. For $700K-$800K you can get two houses in growth potential suburbs.
     
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  14. Al1979

    Al1979 Well-Known Member

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    Haha, I think you know there is! Lalor has had growth, is it the top? I don't think so at all but hey I could be wrong. I think if you purchased now in Lalor you should still get strong growth for a few years and certainly over 10 years. If you can land bank at the same time then happy days!
     
  15. Al1979

    Al1979 Well-Known Member

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    What are yields like in Adelaide? Can you get over 6% in areas tipped to grow?
     
  16. MTR

    MTR Well-Known Member Premium Member

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    I really don't know, not looked lately.

    I know a deve site sold recently in neighbouring suburb Thomastown sold for $680K record price? When I purchased I paid $428K in 2013, similar block.

    There will be a cut off point for deve sites, when the builders can no longer make money they will stop buying.

    I love Melb though, I still believe its the safest market in Australia, number 1 immigration, economy thriving, service industries buzzing along... a nice part of the world:)
     
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  17. Perthguy

    Perthguy Well-Known Member

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    You can get over 6% in lots of areas. Whether those areas are likely to grow is subjective.

    There are lots of threads on Adelaide by @Corey Batt and @D.T., like this one:

    SA - Salisbury LGA Summary

    I have found them really useful.
     
  18. Coota9

    Coota9 Well-Known Member Premium Member

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    Yep Thomastown and surrounds are booming at the moment...actually sick of my son reminding me:D
     
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  19. dickle

    dickle Member

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    Sydney
    Any suggestions on cash flow suburbs with a $200k range in Adelaide? Obviously after capital growth, however more focused on cash flow for the next purchase.

    Thanks
     
  20. Perthguy

    Perthguy Well-Known Member

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    SA - Elizabeth SA Mega-thread continued..