NSW 60k Deposit for NSW IP, Where & what should I buy?

@BuyersAgent Matt, it seems that Berkeley is the great spot to invest this year


Looking at the Score graph above, it is almost perfect place for investing or even living as retirement place.

 

Hope you are both properly documenting this.

 

Berkeley you reckon ? yeah looks good, do you know what part is best ? any streets to stay away from that you have seen ? Will it do better than Park Ridge QLD ?

I dunno why, but I always think of berserk tenants when I see the name Berkeley & that has stopped me from really looking further, funny how things so random can put you off hey....should really be thinking of the great education place of similar name.

Will there be some fire flood sales soon ? (see what I did there)

 

well done @Davothegreat !

Wouldn't care to guess whether it or park ridge will outperform but it is important to note Berkely is a low socioeconomic area depending on what streets social housing is anywhere from 1% to 57%. In general the part closest to water is ok. A retired policewoman I know used to work in the area back in the nineties and it was indeed called Beserkly back then. Places can change but with current high social housing percentage I would say other areas nearby are a safer bet - also due to proximity to steelworks. Its not my first suburb of choice on the lake others are further along the gentrification process with higher percentage private ownership.

 

Nice post @Tekoz - As above though not the most obvious choice for retirement. Shell cove much trendier for those with the cash, and northern gong of course trumps that again but in a higher price bracket. Ok for investment but so was most of Illawarra last yr. There are better options nearby imo. Each suburb also has micro locations that are better and not so great. THen three is the individual property quality and each deal is different too.

 

I can't see the stratospheric growth of the past 2 years continuing, particularly with the Sydney market slowing down. Would love to be proven wrong though.

@Tekoz you want to retire in Berkeley? Maybe go for a drive down there first before you pack your bags... save the housing ghetto streets of Warrawong for the last stage of your visit - leave a nice lasting memory. ;-)

 

I wont be going to Beserkely or Parkinsons Ridge...... Sorry Matt I forgot to add a smiley at the end....

 

@BuyersAgent ah I see, I was under the impression that Berkeley is nice place for retiring or investing due to the graph I posted above.

Everything looks good on the graph above as they are all green but yes I don't know about the reality.

If that's the case then I'll continue to search on other area under $400k that is all green bar like Berkeley above.