Sydney $1 million investment

Discussion in 'Where to Buy' started by Craig John, 26th Jan, 2020.

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  1. Craig John

    Craig John Active Member

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    Where would you buy in Sydney now with up to a million dollars and why?

    Not much other than apartments in the inner and middle ring... are these still good options?

    What about a house in the outer suburbs?

    Long term investment
     
  2. Clive Palmer's Yacht

    Clive Palmer's Yacht Well-Known Member

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    If you can handle some negative gearing, I still like houses in the inner ring. Mainly because high demand from professional tenants (esp dog owners, when compared with unit rentals), and owner occupier (dog owners, young familiea) demand also strong - which underpins capital gains.

    I think younger generations prefer proximity to the city vs spacious properties in mid-outer rings, a trend which I think will continue.

    As density is already high, it's harder to subdivide and add much more supply - other than via unit developmemts, which I think are less preferable for above mentioned reasons and don't always work because of already high land prices coupled with difficulty in gaining approval for larger/taller block builds.

    Listings few and far between, but there are smaller terraces in the likes of Newtown, St Peters, Ashfield, Dulwich Hill which tend to be doer-uppers that still can be had around the $1m mark.
     
  3. Clive Palmer's Yacht

    Clive Palmer's Yacht Well-Known Member

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  4. Sackie

    Sackie Well-Known Member Premium Member

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    I'd buy older 2,1,1 unit, reno and sell. Price point in the low 600s to buy. Within 13km of CBD.
     
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  5. Damo93

    Damo93 Well-Known Member

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    I recently returned from Sydney and stayed in Ashfield and visited friends who rent in Dulwich Hill. I would opt for 3x2 apartment with 2 car park bays within 1km of public transport and up to 15km from Sydney CBD. Big demand amongst renters, very little to no stock.

    Side note: Went on a Day trip to Blue Mountains and a lady serving Gelato at a shop was horrified we had chosen to stay in Ashfield..not the most desirable of areas..if news reaches that far..
     
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  6. Scott No Mates

    Scott No Mates Well-Known Member

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    She'd been watching reruns of Pizza and thought that you'd said 'Hashfield'. :oops:
     
  7. Alex123711

    Alex123711 Well-Known Member

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    What are some good suburbs within 13km?
     
  8. Sackie

    Sackie Well-Known Member Premium Member

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    Look at all the areas around the CBD in a 13km radius which meets your price point and then do some DD on them.
     
    Damo93 likes this.