600-700k where to invest

Where would you invest 600-700k?

Partner is keen on coast to tick off the holiday house bucket list. I’m not partial to holiday homes and don’t care where we invest as long as growth is strong and additionally it can be tenanted at $450+ /wk.

In order to appease partner, I have been looking at Central Coast, Newcastle, Wollongong and surrounds but the coastal suburbs in these areas are above budget given the recent growth.

Partner is thinking Port Macquarie because it’s coastal and median house fits in budget and rental is $450+. I just don’t think it’s the best use of the money for growth. Correct me if I’m wrong.

So what do you think - Where would you invest the money and why?
Criteria:
- strong growth
- $450 plus rent per week
- area that is not high crime
- house

Not essential but preferable:
- coastal suburb or
- capital city like Brisbane, Adelaide, Sydney, Melbourne

 

Middle-outer suburbs of Brisbane, or Logan? Rochedale South, Daisy Hill kind of area?

Not sure about Port Macquarie (nothing against it, I'm just not familiar with the area).

 

If i was to buy today in that budget i would buy a detached house at about that 20-25km ring from CBC in Brissy on the southside around Jindalee, Mount Ommaney and those suburbs. The north side at a similar distance from CBD seems to have moved a fair bit upwards in price whilst these suburbs don't seem to have moved as much - yet...

 

Yeah, I'm in a similar boat - looking at Oxley, Salisbury, Jindalee, some of the Logan suburbs too.

 

I am also on the same boat. Having a hard time deciding between the Brisbane area vs NSW central coast/Hunter...

 

Ide be looking in adelaide.

 

I will vote for 15kms south west brisbane suburbs say oxley, jamboree heights, most centenary suburbs, great location to purchase an IP more family friendly suburbs

 

Centenary suburbs are quite nice but lacking a nearby train line like their counterparts in the north (arana hills etc).

 

Have you considered buying property in a region that is more countryside? I ask this because where I am currently working, we have solid rental returns on homes that are trying to be sold. You would be able to purchase multiple homes and make that sort of return; if not higher. Send me a message if you are interested.

 

Perth.

 

Liverpool
MacArthur
10 year hold

 

- Where is the “countryside” region?
- Are you selling these homes? Are they new?
- What are the capital growth prospects and what are the growth drivers? Why would they be good investments for the purchaser?

 

Logan council. Start researching there are 77 suburbs in there

 

Any idea on what suburbs in central coast and why? I was thinking Ettalong/Umina as in my price range for a 3 bedder however the suburb doesn't seem as nice as I initially thought ie not a great vibe for eating & beaches are not that nice.

 

Even I felt the same when I went for inspection 6 months back specifically around Woy woy and surrounds still several years away

I went back to Brisbane my proven strategy

Quite difficult if you don’t know the market locally very well

But in general central coast has great potential

 

haven’t zoned in on suburbs yet. I will engage a buyers agent once I have decided on the region.

 

Ah ok sorry jumped the gun on you there. What was your main reason for thinking Central Coast or Hunter? My initially thinking was I wanted to buy rural NSW in a main town like Orange to benefit from the WFH movement but some doubt that it will continue crept in after reading multiple comments saying majority will flood back to capitals. However I have decided that cant/wont be everyone and there will be still many that have the option to WFH or at least a few days from home. With many moving from Western Sydney suburbs to the Central Coast I am thinking surely they have a better life style and property and only being a bit further from the city those that can will stay and those that can move will. I think the area has a great risk/reward ratio at the moment keeping in mind picking the right location on the CC and property type is extremely important

 

I would buy a property in Brisbane, the market has been going well.
E.G purchased a property in Arana Hills for $550k in January and its already worth $640k, it's also renting for $500 per week.
There are also other suburbs across logan were you can get in at a lower entry point and have a 5% yield.
Most properties are receiving 8 - 16 offers so demand is defiantly there.

 

I am in Sydney, so would like to ideally find something within driving distance and there's a thinking that there are always more jobs and companies in the Syd/Melb and surrounds, so it's probably a safer long term investment?! Central Coast appears to be a good balance in terms of proximity to Sydney metro and also a bit of lifestyle choice. But who knows if the lifestyle movement will slow down (or even reverse) post-covid. But I agree that the location/type is important no matter where you buy. I was looking at Hunter (near Maitland) as well as there are more affordable pockets there. Lately, my mind points towards Brisbane. So definitely haven't finalised my plan yet. A newbie here.... trying to learn and research.