Hi guys, I have one IP in quakers hills sydney and looking for my second in melbourne hoping to learn alot about areas here. Danny
Welcome Danny, I think you will learn a lot from this forum. There are some very helpful people here. You should try and get to the western Sydney meet ups if you are around that area. They are held at wenty leagues every second month.
Welcome! Next Western Sydney meet up is on the 11th November, so it's just around the corner. Details here.
no sales pitch. just a casual meetup with like minded people. tag along Danny. help us find the real Datto. LoL
Welcome. QH would likely have done well for you - i've got a client with all 4 of his properties there and they've done amazingly well for him in a relatively short time period. A few with GF's on them now - seems to very popular in that area. WS meeting is just a chat with people around, not a sales pitch at all. Great resource and quite fun!
Sydney has become so expensive, i think i will wait till things settle here But i see lots of potential in melbourne and its quite cheaper
@Danny370z have you considered Brisbane? A lot a threads on PC about it. Melb has just started to cool down. Probably wait for 6-8 months to buy there
Hi @Danny370z - firstly welcome! A few things to keep in mind about Melbourne. Firstly, it's like construction on steroids in Victoria at the moment - both inner city apartments and houses/new developments in the fringe/outer suburbs. Secondly, confidence in the Victorian state government isn't particularly high at the moment - quite a few issues over the last year or so which has had a negative impact. Confident, at a state, local and federal level is all important when investing in property - as without confidence, people aren't likely to put their hand in their pockets and spend money on investment properties. Thirdly and probably most importantly, the Melbourne economy is heavily driven by the manufacturing industry. Australia-wide, the manufacturing industry isn't particularly setting the world on fire. Highly concerning (for Melbourne) is the fact that 98,000 jobs will be lost over the coming 18 months (fact) as Toyota, Holden and Ford close their manufacturing plants. That's a huge impact on confidence. Job security (or lack thereof) will definitely impact confidence in Melbourne. Just a few things to keep in mind. Good luck!
I'm in Melb myself. As I've said before, I wouldn't be buying here ATM - unless it's your dream PPR, then it's not a financial decision but a lifestyle one.. Melbourne will taper off early into 2016, if you wish to buy here, I would be holding off until towards the end of 2016 when the nervous nellies start to pop up. If you do not want to wait until then, I suggest as per other members buy in brisvegas.. Last thing you want to do in jump into melb then get a 10% correction late next year!!
Melbourne has apparently taken over Sydney in terms of growth I think, so will be a while before there are any good buys there. Unless you like buying at the peak : /
Thank you for your thoughts. Apartments are defenitly out of the question as i think there is a massive over supply. And yes i do agree about the state government has stuffed things up i was really hoping they wouldnt scrap the east west link But im looking in west melbs and i cant get my eyes off it haha Qld to me has always been a strange one ive known so many ppl that have made zero CG over a couple of years
