Just looking for opinions on buying apartments in Sydney in the current market, and where would be the best places to look?
Personally I'd avoid any areas where there are high levels of supply coming through. Seeing rental yields for existing stock drop significantly in some cases. I'm seeing lots of activity in the eastern suburbs and inner west around Marrickville etc with some good yields.
Depends on budget and goals. Coastal areas. Small blocks. East side. Some inner west great value areas. In certain there are good deals there for those who want a ppor unit or investment. Add value units. Low ball plenty of deals. Get one to stick. Can work. I've done it plenty a time.
Inner West, Lower NS and Eastern suburbs. Small boutique blocks of usually 1970's 3 storey walk-ups - plenty of land component. NO lifts, gyms, pools or spas. Away from new high-rise developments. Close to transport but not backing onto it!
Lakemba, Wiley Park, Punchbowl, those are the areas I would be looking at. Big plans are already in place and with their close promixity to the city as well, I can't see these suburbs and surroundings not doing well in the future
Can I ask you to elaborate on this? I recently came across a 2storey walk-up that, on the surface, ticks quite a few of my criteria. Apon further investigation, a new development of low rise units will be built, right next door in the near future. Given that I am looking as an OO, this place just doesn't appeal to me anymore.
Due diligence is the key. Check everything. People are shying away from high rise unit because of cladding, Opal and Mascot and I’m sure many other apartment buildings. Invest in areas which are growing with transport e.g. metro, areas with new shopping developments and good schools. Personally I’ve been looking around Castle Hill because of the metro, the fact Castle Towers will be the biggest shopping centre in Sydney and it has really good schools.
