I am a new investor and have a budget of $600,000 to invest. I live in Sydney and would ideally like to invest in Brisbane or Adelaide but traveling there to see a property is a challenge. Therefore, thinking about investing in regional New South Wales where there is scope of capital growth. Interested in buying a house instead of a unit. There is nothing in Sydney that would fit in that budget. Hence, I believe regional areas would be the only option here. I have done some research on Newcastle and Dubbo region but would like to hear from the experts regarding some other regional areas where it would be worth investing. Help please!
I’m by no means an expert but I believe Newcastle would have better growth prospects than Dubbo. If you do want a regional/rural city I think Orange is a better option than Dubbo also as has much better amenities and closer to coast/sydney. I was looking at Orange but also Central Coast now for same reasons that I want a house over a unit and can’t afford a house in capitals.
I'm a HUGE fan of Orange. I own 3 properties there. My company has sold many properties there. But ...... right now prices are at peak.... Dubbo on the other hand, which traditionally sits at a very similar price point to Orange, is well behind Orange at the moment . It is at least 150K cheaper to buy a 700M2 block of land in Dubbo than in Orange. This sort of gap has never existed before..... This gap may be here to stay, or perhaps Dubbo has room to move/catch up? After all, Dubbo has the lowest unemployment rate in the state and a lower vacancy rate than Orange.... In the end, I think either location will serve you well.... but 600K will go further in Dubbo at the moment