NSW Regional NSW

@Ardi

Higher council rates
Insurance (in some area)
Higer PM fees
May be Longer vacancy

Take above in to consideration.

Was taking to a client in Tamworth recently, and she mentioned that trades are moving to metro cities for more money and few left in town are extremely busy or charging thru roof, pushing up building cost.

 

Also be careful of strata levies. Some agencies charge 15% fees.

 

Thanks @Be Developer and @Chilliblue.
It is great to be able to fet input into this from experienced investors. In time can save thousands in poor/ ill informed decisions+

 

And.... Be careful of buying a IP in a one Real Estate Agency town like i did 12 years ago in Barmedman , very costly management fees !!!! I had no choice !!!

 

Two and a half hours South is good

 

Tamworth City Council rates are quite high IMO but I have found getting small handyman type jobs done is inexpensive.
Rents there have continued to creep up in line with inflation without any large increases.

 

I like it there too, but I did get scared off from buying in West Tamworth.
Next time I'm there I'll have another good look around.

 

Yeah every man's a handyman in the country so the job gets done well and cheap. Not sure about tradies yet but first impressions are ok. Rates are high and real estate agents are pretty awful and exy. None of that is sufficient to detract from the affordability nor the yield nor the supply of unrenovated property.

 

@Ardi why not buy in Western Sydney area at the moment ? Regional area is hard to justify the capital gain except for cash flow.

@WinDyz. has got some experience in that area to look around if you are interested especially in Parramatta area .

 

I have properties in Orange and Wagga. They haven't done much for a long time. The HTW report posted in here yesterday indicates that Orange is in the start of recovery and Wagga is moving a little too. I can't see it in the prices yet but fingers crossed we see a brighter future for these areas soon. Based on economic predictions it may be worth looking at Orange as prices are pretty much at rock bottom and a good negotiator could get a good deal out there.

Western Sydney? If you want to buy at the peak of the market with fabulous 3% yields then hey, why not Tekoz

 

Here's a mini-video of Parkes Council's explanation of why Parkes could be a good place to keep on the radar. Not biased at all.
And the latest write-up.
http://www.parkes.nsw.gov.au/news/1169174-inland-rail-video-launched

 

This should have happened 50 years ago! It must be a nightmare with all those trucks currently going through the town on the Newell Highway.
I am always skeptical of plans when Governments are involved.

 

Yeah it's taking a while. It'll make such a difference if and when it happens. The council remains optimistic.

 

I certainly hope it does go ahead. It would be a great improvement to the current situation.

 

This below link may be beneficial for some investors looking at Regional NSW

http://www.evoproperty.com.au/?_ga=1.236591809.1173472612.1438809201

Cheers,

Phil

 

Hi mate, i think western syd is probably out of my price range and was also thinking i may have missed the boat.
I also worry if sydney stabilizes the media will turn all "doom and gloom, the bubble has burst" and this might rub off on surrounding areas.

 

If Sydney goes down a hole what happens to to country towns like Adelaide or Brisbane?

 

@Pistonbroke it should go up or neutral because the price increase in those are that you mentioned is not bubbling fast like in Sydney.

 

If Sydney f@rts the rest of Oz catches pneumonia. (Mining boom excepted).

 

Little towns like Brisbane could get hotter if everyone moves away from Sydney.