NSW PPOR Sydney $2.0-2.5m

Discussion in 'Where to Buy' started by azif, 1st Mar, 2020.

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  1. azif

    azif Member

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    Looking for something ~30mins to sydney CBD on public transport prefer a train, good public schools are the other main important consideration.
    Mortgage is going to be pretty large so ideally want it to be an investment for the long term as well so was thinking freestanding is better long term?

    From looking at auctions I've seen current prices
    • $2.5m - freestanding ~500m2, old place that requires some work - lanecove/willoughby/greenwich
    • $2.5m - already renovated freestanding ~500m2, stanmore
    • $2.5m - already renovated semi ~250m2, crows nest/mosman/cremorne
    • $2.0m - semi/terrace ~250m2, inner west (stanmore/enmore,lilyfield)

    Prefer to spend at bottom of the price range but it doesn't seem to buy much in inner ring Sydney. Any suburbs we should look at?

    Stock is very tight at the moment, but doesn't look like it will pick up any time soon. House prices are tipped to rise over the year ~10% as interest rates drop so should I be rushing in before we get priced out of the inner ring? But on coronavirus/economic uncertainty means there looks to be a much larger downside.
     
  2. Morgs

    Morgs Well-Known Member Business Member

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    I see lots of transactions in those areas/price brackets; in many cases lot of clients being priced out as the competition is quite strong and stock on market really low. Fair bit of stock seems to move off market in these areas as well.

    Would think around Lane Cove / west side of Chatswood you'd be able to get something with a bigger land content out that way. Potentially looking at lower yields though compared with stock that is more centrally located around Crows Nest/Cremorne.
     
  3. tess_

    tess_ Well-Known Member

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  4. MWI

    MWI Well-Known Member

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    All the areas you nominated seem ok but it depend on your research and your strategy.
    I would buy where the median price is around that mark for that suburb, older with renovation potential, closer to CBD or more perceived premium suburb, where incomes are growing faster and their is ECB (Established Capital Benchmark - meaning much higher values properties).
    Did this ourselves 12 years ago and now most likely wouldn't be able to enter this suburb at current prices as disparity in price seems to bet bigger and bigger!
     
  5. Gockie

    Gockie Unicycle - get exhausted but never two tired Premium Member

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    Whatever you buy, keep in mind the stamp duty is around $100k+ at this purchase price bracket
     
  6. Blueshoes99

    Blueshoes99 Well-Known Member

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    Try Pymble, Turramurra, Wahroonga, waitara. You’ll be able to get something around the 2.5 mark.

    Large houses on large land with transport and good schools and local facilities and shops... very very safe with low crimes and above average income families.

    Don’t forget in the future trains will be faster and you’ll be able to get into the city in about 30- 40 mins.
     
    ndpjai likes this.
  7. Gockie

    Gockie Unicycle - get exhausted but never two tired Premium Member

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    Agree, nice areas (pretty much all of the north side of Sydney is nice) but where did you hear that trains will be faster in future?
     
  8. Scott No Mates

    Scott No Mates Well-Known Member

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    They're slower than they were 50 years ago.
     
  9. Blueshoes99

    Blueshoes99 Well-Known Member

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    once it links into the city. There will be no change over at Chatswood and you’ll ride one train into the city
     
  10. Trainee

    Trainee Well-Known Member

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    since when do people from pymble etc have to change at chatswood?
     
  11. Blueshoes99

    Blueshoes99 Well-Known Member

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    they don’t but once the train line is all metro from Chatswood it will be faster. People get off the metro and change to the old trains at Chatswood
     
  12. Jacque

    Jacque Jacque Parker Premium Member

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    Much will depend on your preferences, renovation skills (or propensity to renovate :D) and what type of neighbourhood you prefer. I like the north side and Inner West- both have different offerings but very different vibes. If you have to be within 30mins you're limited but there's still lots of options. If it were my $$$ and it has to be a freestanding house, however, I'd be buying the NS - considering all the way up to as far as the 30mins will allow on the north shore or northern lines. Walking distance to station (or bus) good street, decent land and also considering local school catchments. Happy hunting :)
     
    fols likes this.