Sydney - Where to buy investment under $870k?

Hey everyone..

What should I do with $870k in regards to Property? Trying to target growth more than yield.. (but need yield to pay loan of course)

1. Old unit in inner suburbs? Randwick / Marrickville..
2. Unit or old house in northern beaches area?
3. House in western suburbs.. West Hoxton, Quakers Hill, Blacktown..
4. Try to profit from badgers creek airport and buy something out that way and fingers crossed..
5. Forget Sydney altogether..

I somehow can't see units going up much in value.. Thats a concern for option 1 and 2..


-Frank

 

Why do you want to invest in Sydney?

Do you see value in Sydney with prices at an all time high?

 

I was waiting for someone to ask me that .. I wouldn't mind opinions on your very question.

I want to invest in Sydney because it seems 'safe' its where everyone wants to move to. Supply is still not meeting demand from overseas and interstate.

I've lived all my life in Sydney and I will feel comfortable knowing the demographics of whatever area I end up buying in.

Yes it's an all time high but considering property prices in Sydney don't really seem to go backwards much, hasn't it always been an all time high?

I do worry that wages aren't moving up much and owning a property is getting further and further out of reach in Sydney for a lot of people and concerned about how this will affect future growth.

But having said that, I feel I need to buy something very soon and I feel safest in Sydney.. What other areas have strong consistant growth other than Melb? I would buy in Melb but don't know any areas there.. I'm not sure I feel safe buying in Qld although it's suppose to be ok but again I wouldn't know where to start.



-Frank

 

Frank pal, please....

 

Mistake #2 coming soon

You don't like my plan?

-Frank

 

It is hard to see value in Sydney right now after the big ramp up over the last 3 years or so. Especially if you are looking for growth. I mean how much more growth can the market take at this point?

Nobody knows the future and you need to make a decision your are comfortable with.
The consensus on the forum is Sydney is at its peak and it does seem hard to see it go higher, but again, nobody knows.
I remember people waiting for a correction in 2013... well, we know how that turned out!

You need to decide for yourself if that is a risk you are willing to take.
Same goes for the property itself. With this budget you are looking at different options depending on the area you target. It's all got its pluses and minuses. Try and pick something that is in demand in the area and of course in a location where people want to live.

Not much help I'm sorry!

 

Your budget is more appropriate to get a house on the central coast rather than the northern beaches

 

Parramatta region. Some satellite suburbs are still offering houses around the price point you are looking at. Check out this thread for fundamentals overview: NSW - Wentworthville, Pendle Hill, Toongabbie - Suburbs on the Parramatta line

 

growth is speculative. how risk adverse are you ?

 

option #5. Then go Brisbane.