Brisbane&Sydney

What kind of distance out of the city do you class as inner bne?

 

Within 5km of cbd.

 

id say 5-7 inner, mid 8-15, outer 15+ ...but thats just me and limited to brisbane only. Obviously different for each city. In NY, id consider upto 25-30km as inner!

 

Probably a good idea to research what's happening in Sydney. Have you been living under a rock?
By all accounts the market has peaked.

 

Not everyone follows real estate. Plenty of other things in life to focus on

 

Like what...

 

Do people still read newspapers?
What about the internets?

 

AMP had NSW 2000, Annandale, Zetland & Waterloo from memory. Not that surprising.

 

A picture paints a thousand words ... or, maybe just a clock will provide better insight.
Courtesy of Herron Todd White - Australia's Largest Property Valuation & Advisory Group

 

The Eastern suburbs may hold up ok while rates are not climbing, I am not sure what sort of place you would get for that budget as many outer suburb units are way over 600 in reasonable areas.

 

Well rose bay is imo one of the cheaper suburbs in the eastern suburbs, but that's no more.

Here ya go: a lovely 1 bedder for ya.

Sold Price for 11/22 Manion Avenue Rose Bay NSW 2029

 

Depending on which suburb, don't think there is much space to build on anymore in places near the beaches.

I think the consensus is, Sydney will be a flat market for quite some time, how long, nobody knows, so a purchase all depends on your long term goals.

@Leo2413 - I've thought Rose Bay is quite the nice suburb and didn't think it's one of the cheaper ones.

We walked around Clovelly last easter weekend, it was quite nice.

http://www.realestate.com.au/property-apartment-nsw-clovelly-120399997

Good luck!

 

Thanks guys for the replies. I do need to research more before making a decision.

 

I would never be in the market for a place like this, or any of the Eastern suburbs. You really need to be in the money to hold IPs in these places long term, unless you like being a financial partner with the NSW govt.

I am not even sure how the unit market works there to be honest, but with houses and better areas, basically while business is doing ok, all good, if we have a recession, it will drop like a rock.

Often it would be what signaled the end of Sydney cycles decades ago, the East going down, now it seems the West will be the loss leader.

 

There was no space there 4 decades ago, unless councils start selling parks etc.

 

@Clairal

The question isn't so much where you want to buy but rather how you see 800 k increase to say a mil to make it worth your while.

Brisbane isn't going to convert your 800k to a mil any time soon unless if you are planning to build some negative gearing for yourself and sit tight for many years. There is nothing in Brisbane to warrant that type of growth in the short to mid term.

I would invest that money close to the hills district of Sydney where train line is going on and is also close to Parramatta where everything is happening.

 

Don't get me wrong it's a very nice suburb i agree. When i said 'cheaper' i meant it's cheaper compared to many other neighbouring suburbs but it's still 'expensive'.

I think the demand for many of the areas in the eastern suburbs especially unit markets has been very strong. Good fundimentals. Prior to sydney boom we bought 3, 2 bedroom units, renovated them and 3 years later revals have been 400k-500k for each equity. Probably could have bought in many places pre boom and made good money. But the locations of these units are near sought after beaches. Will always be in demand.highly doubt you'll see these units prices go back to pre boom prices ever again. That boat is goneskie.

 

Was being a bit cheeky there @Leo2413.
Have you held on to those units or sold up? Curious when you first bought them, what was the yield?

 

Disagree. I could easily see if s/he bought 2x 400k properties they could get to 500k in 1-2 years in Brisbane.
The Hills in Sydney has boomed already. If Clairal had bought in 2012 here s/he would be sitting very pretty. But buying now in the area for investment is quite risky. Anyway, 800k is more of a townhouse budget than house in the area... @Clairal... I could not tell if you are a guy or a gal... tell me and I can get rid of the annoying s/he's!