Opinions sought: 2 Bed, 1 Bath red-brick 70m2 3 storey walk-up unit in the Eastern Suburbs of Sydney. Assume close to buses and/ or light rail. Is a car space a must have or a not necessary for you as an investor?
In many inner subs of Melb, residents can get a street permit either free or for a small annual fee. The Y-man
Which suburb specifically? If it is close to facilities and transport then I wouldn't be too concerned personally. The price needs to be right though... in some areas particularly around Elizabeth Bay etc carspaces fetch a premium.
Big range there - if it is walking distance to Bondi Beach or the Junction then no problem. Some areas of Randwick though you'll limit your market appeal.
We are moving into the carfree era - companies are about to emerge offering km per mth, then driverless cars. We don't need cars - the 100 year love affair is over. Ive converted all garages to holiday studios. So, not necessary for me as an owner, or an investor as I rent each separately and so does everyone I know in Sydney (ie, 1 bed flat $600pw + garage $80 pw, sometimes to same person sometimes not) Renters often dont have cars and dont expect car space - used to paying extra or sourcing their own.
As @Morgs said, it depends on the exact location within the Eastern suburbs locations you have listed, as well as the type of apartment. For example, A lot of the art deco flats in these areas were not built with parking, but a lot of them are in AAA grade locations near beach, pubs, cafes etc and have fewer units in complex plus better floor plans (often with bigger bedrooms & sunrooms) than the 60's & 70's apartments with parking/ garages. They also have high demand with renters and owner occupiers. So, its a case by case basis- To say one must have parking means you don't know these areas well.
