NSW Confused. which city is the best bet Next ? Brisbane, Adelaide, Canberra or Hobart ?

Discussion in 'Where to Buy' started by Kangaroo, 7th Nov, 2015.

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  1. D.T.

    D.T. Specialist Property Manager Business Member

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    Same as anywhere.
     
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  2. Gockie

    Gockie Life is good ☺️ Premium Member

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    Sydney you could have bought virtually any house anywhere... everything went up double digits. Won't be the same for Brisbane though
     
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  3. D.T.

    D.T. Specialist Property Manager Business Member

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    Yup, lots of people with dumb luck in Sydney. Be interesting to see how they fare in other cities :)
     
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  4. JDP1

    JDP1 Well-Known Member

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    And those in Sydney as well..now that it's entering a different point in its cycle.
     
  5. Toon

    Toon Well-Known Member

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  6. Rich2011

    Rich2011 Well-Known Member

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    Would you buy in Gold Coast for CG at the moment?
     
  7. Michael_X

    Michael_X Mortgage Broker Business Member

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    Living here, I can definitely see potential but can't seem to get the numbers to work for neutrally geared properties.

    One way is to do the AirBnB rentals but that's a bit too active for my liking. Know a few people doing that here and getting great returns.

    For me the first criteria is always neutrally geared properties. If something happens to you or your source of income, at least your portfolio doesn't topple over. After that, it's trying to get as close to a CBD hub as you can, eventually those areas will do well. Maybe in one year or ten years, doesn't really matter as it's costing you nothing to hold.

    I don't spend too much time trying to pick hotspots...if you go back a few years and look at the predictions from the property experts, half of them are wrong. At the end of the day, it's all speculation.

    If I could find good numbers in GC, would happily buy here.

    Cheers,
    Michael
     
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  8. Rich2011

    Rich2011 Well-Known Member

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    So,
    1. Where would one buy to make a good AirBnB as that does appeal to me, what area's are the people you know doing it?
    2. When you say CBD hub where would that be on GC?
     
  9. Michael_X

    Michael_X Mortgage Broker Business Member

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    1. Close to amenities, the tourist attractions, the beach etc. I wouldn't be buying the high rise apartments but anything else with some good land content and you can add some value would do well in a good location. I am staying in Robina myself through AirBnB, also quite like Southport.

    2. I would say the heart would be Surfers, so just expand out from there.

    Cheers,
    Michael
     
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  10. JenW

    JenW Well-Known Member

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    Anywhere (almost) but Hobart. Lovely place to retire to, nice low cost of living, but horrible for anything else. Invariably has significantly higher unemployment compared to mainland states. When all the young people are having to leave so they can get jobs, you know things aren't going so well.
     
  11. JDP1

    JDP1 Well-Known Member

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    Yes, the last part is the main kicker, and why I'm not bullish on Hobart. Similarly with Adelaide. brain drain is very tough to reverse and takes a long time and requires consistently strong efforts by business and politicians. Adelaide and Hobart don't have much of either.
     
  12. See Change

    See Change Well-Known Member

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    Sounds like the same things we were told when we bought there over ten years :cool:

    Rent and capital have doubled since we bought .

    Very happy with our Hobart purchase . Have looked , but at this stage Brisbane is ahead of it in our priorities .

    Cliff
     
  13. D.T.

    D.T. Specialist Property Manager Business Member

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    This is something that seems to get regurgitated around the place by "experts", places keep going up anyways
     
  14. See Change

    See Change Well-Known Member

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    Though DT , you do need to get your timing right

    I was first made aware of its potential after a bidding battle over a property in Hobart between The Wife and Goanna which Goanna won .

    Most of our capital growth occured in the 2-3 years after we bought
    and the rent has gradually gone up with time .

    Cliff
     
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  15. MTR

    MTR Well-Known Member

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    Timing is everything, imagine if you purchased in Perth after 2014? your property would be going backwards. However, if you purchased in Perth in 2012-2013 you would have made considerable profits.
    We know property goes up over time but that is not strategizing to maximise returns, not only this, but you will be servicing debt in a falling market if it is negatively geared, double whammy.
     
    Last edited: 9th Nov, 2015
  16. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    I just enquired about this property with REA. He reckons $50K would be comfortable in terms of reno. Not a large prop, internal 106m2.
    The open just wrapped up. He said decent turnout today at the inspection, and have had a few offers. Best and final offer by 5pm coming Monday.
    He wouldn't go into why vendor is selling, although I didn't really press hard on this. No B&P done to date. Brick shell and solid.
     
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  17. ramssss

    ramssss Active Member

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    I suspect the listing price was designed to whip up a bidding war on this one. Once renovated, what do you think the final value would be?
     
  18. D.T.

    D.T. Specialist Property Manager Business Member

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    There's quite a few other properties in the area going for around the $285K mark and renting in the low 3's. It'd be an amazing pickup at the price quoted - but as you said, likely to be click bait unfortunately.
     
  19. Steven Ryan

    Steven Ryan Well-Known Member

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    Brisbane looks to have the most solid fundamentals. Adelaide and Hobart could be dark horses though.

    $350k will give you a big budget. May be an option to spread your capital around a bit :)
     
  20. peastman

    peastman Well-Known Member

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    So, after reading this entire thread, I have come up with the following conclusion.
    Buy in Brisbane, Adelaide Canberra or Hobart, but stay away from Brisbane, Adelaide, Canberra and Hobart.
     
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