NSW Sydney PPOR Options

Discussion in 'Where to Buy' started by dengus, 23rd Jul, 2018.

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  1. dengus

    dengus Member

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    Hi All,

    You have $450k - $600k to spend on a PPOR in Sydney Region to be later turned into an investment property.

    Minimum 3 bedrooms and House / Villa / Townhouse preferred.

    Looking to purchase next year.

    Have fun.

    Regards,
    Dengus
     
  2. Cimbom

    Cimbom Well-Known Member

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    For a house I think you'd need to go out to around the Campbelltown area and to the top of your budget though I would be very cautious about buying in the near future
     
  3. spludgey

    spludgey Well-Known Member

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    Interesting that there have been a few posts like this lately..
     
  4. bob shovel

    bob shovel Well-Known Member

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    It's the dfa guy from the project sniffing for "research"
     
  5. hammer

    hammer Well-Known Member

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    I reckon everyone is thinking of getting in a bit early.

    Darwin and Perth have taken 3 years to even look like hitting the bottom....

    From what I've looked at historically 3-7 years seems to be about the aussie norm? (Please correct me if I'm wrong!)

    Sydney has not even finished its first year of correction.....
     
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  6. bob shovel

    bob shovel Well-Known Member

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    Fomo fomo'ing?
     
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  7. Gockie

    Gockie Life is good ☺️ Premium Member

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    I’m going to be a bit contrary, I think the low end may hold up since it’s the only Sydney market segment suited for FHBs or people coming from cheaper markets.
     
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  8. hammer

    hammer Well-Known Member

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    Ha! Maybe!

    I know it happened to me post Darwin boom...we spent ages getting shafted by the rent and it was honestly looking like we'd never ever own our own home....then the crash came and I was champing at the bit to buy a place once prices dropped 10 percent....

    My wife reckoned we should wait...and we did. Thank. The. Stars!

    Prices continued to drop like a stone for the next 2 years....and we nabbed a bargain.

    With the financial situation and prices very, very high.....I suspect Sydney has a long way to go...
     
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  9. hammer

    hammer Well-Known Member

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    I dunno @Gockie . You might well be right but in Darwin the FHB stuff dropped too....420k to 250k....team WA should be able to confirm what happened in Perth as well.

    But then again, every city is different....

    I'd still be waiting. If the price drops 25k a year then it is cheaper to rent.....
     
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  10. bookworm

    bookworm Well-Known Member

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    At that price point, I think you would struggle to get a 3 bedroom townhouse in a semi-desirable location in Sydney. If it isn't a forever home (as indicated by your intention to rent it out), would you consider say Brisbane or Victoria for investment and rent in Sydney?

    I personally don't subscribe to the wholesale Sydney crash, certainly not in some highly sought after areas in the lower density sphere.
     
  11. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    You may be able to purchase a townhouse or villa in the Blacktown region - but would be closer to $600k
     
  12. Gockie

    Gockie Life is good ☺️ Premium Member

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    I just think Sydney has the demand from migrants.... they just keep coming, supporting the low end home prices. FHBs have really struggled to buy recently too but now the market has less investors, they have a chance.
    From https://www.businessinsider.com.au/australia-housing-market-price-falls-sydney-melbourne-2018-5 3C218256-DE55-448B-A374-E025F23691A8.png
     
    Last edited: 23rd Jul, 2018
  13. dengus

    dengus Member

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    Very similar situation, I'm happy to wait longer. The other option is purchase an investment property in another location (Brisbane,Melbourne, Perth) then use equity to buy a PPOR in Sydney, however seems as though APRA and banks are tightening the reins on investors and I'm struggling to see where the growth is going to happen in the next 3 years.
     
  14. Cmelderis

    Cmelderis Well-Known Member

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    A friend just bought a 4x1 brick house on 700sqm in Emu heights for 600k....not sure if thats too far out for you
     
  15. dengus

    dengus Member

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    Thanks, probably a bit far, but beggars can't be choosers.
     
  16. radson

    radson Well-Known Member

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    Apparently Medlow Bath is good value relative to surrounding areas...officially in the Sydney region.....just :)
     
  17. aving1001

    aving1001 Well-Known Member

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    how about punchbowl? It has got quite a few townhouses with advertised price around 700k.
    could we expect significant negotiation room with now so called buyers market?
     
  18. AAA2214

    AAA2214 Well-Known Member

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    Ya lot of townhouses in Quakers hill in that price range. If you can increase your budget to something around 700-800k, you can get houses with good sized blocks

    Few properties listed this week -
    1 Afton Place Quakers Hill NSW 2763 - House for Sale #128892718 - realestate.com.au
    52 Farnham Road, Quakers Hill, NSW 2763 - House for Sale #128892722 - realestate.com.au
     
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  19. dengus

    dengus Member

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  20. AAA2214

    AAA2214 Well-Known Member

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    Ya the Farnham road one might suit for investment down the line for you as its fetching 500 per week currently. The Afton one is more on the Luxury side for predominantly owner occupiers
     

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