Where to buy 2016?

Good argument. We all do what works for us. I think Bris will do well as it is seriously good value at the moment.

 

I think making money in on the property market in 2016 will require more hands on work. You will need to manufacture growth either via renovations or growth.

Here are my thoughts on the various markets:

1. Sydney - largely a no go area....but there are pockets where you can swoop and make an offer to see if it is accepted. I feel that Sydney will come off a lot over the next few years as people see that it is not going up as much as the cost of holding bites. If rates go up ...it will be a lot more noticeable.

2. Perth - is prime for buying but you need to low ball. This market will pick up in 2020 or there abouts. If one takes a longer term view this is a market worth getting into.

3. Melbourne - The cheaper outer suburbs will do well as affordability drives growth. Look either houses with decent land or try to get land in select new estates below market value

4. Adelaide. - market is definitely stirring. This market is very different and you need to be close to the city (well under 20 klms) or near the beach or fantastic infrastructure to have good capital growth.

5. Brisbane - it will grow albeit slowly. I see another 5-6% growth this year. It is unlikely to do a Sydney but will be steady. Again buying in suburbs where the locals want to live is key.

7. Geelong/Wollongong - both of these markets present opportunities on the back of the Sydney and Melborune growth. They are also reasonably close to both of these cities at 60 klms and 75 kms respectively.

 

True, I've lived there before and would live there again in a heartbeat.
Although I would probably ride my bike to work, the walk to Milton station is a bit long.

 

Great points on all 7. Good stuff.

Looking to hit #2 very, very hard near middle to end of this year. #1 i am always looking for great deals in any cycle as Sydney is more unique and in demand than anywhere else in Australia, imo. Also looking to hit #4 hard for a few smaller sites.

As for adding value, i completely agree. Some of the best results will come from value adding.

 

@sash how do you select the right estate?

 

I don't understand this part - That's literally the whole metro area.

 

I actually compare estate land values. Sometimes when a new estate opens they price their land significantly less. In my case the block I bought in officer was about 40-50k cheaper than the competitors...also go with a big developer as there is less risk.

 

Well select parts....the 20 klms is more around beach corridor.

My preference is within 10klms....maybe 12 klms at a stretch.

 

So for some one who gives advice to investors , your reason for not advising Brisbane is

" not my cup of tea " ....

Seriously ?

Cliff

 

Opinion not advice

 

My mistake , I must have missed the " opinion / advice " button

Interesting though .... You're here as a business member , who advises people where to buy . So on a thread titled " where to buy in 2016 " your postings are opinion , not advice ... .

My observation over the time I've been on somersoft and property chat is that the recognised " business members " ( unofficial on somersoft , paid for here ) are more considered and carefull when posting their opinions , as there will be an tendency by some members to consider that opinion as advice


Cliff

 

My advice is to invest in Brisbane.
My opinion is to invest in Timbuktu.

 

My advice, anywhere away from what interests me.
My opinion, all the data has been placed at your feet for Park Ridge

 

You know well that Sash is deliberately hinting to avoid Playford/smithfield slums

 

That's fine, so am I. Quota is well and truly met.

But it seems like such a Sydney thing to say to be X from CBD because in Sydney that's a thing. Being X distance from Adelaide puts you in every single suburb there is because it's a tenth of the geographic size.

 

Don't worry mate....will let all know once I have gone unconditional on the Adelaide purchase ...dropped them down to 232k....just got the Pest and Building...some leaks in the tin roof...wanting a fix or mo money down. I think it is screaming bargain for something less than 12-13 klms to the city.

Found another one...conditioning the agent to accept an offer of 260k..this is a brick home. A quick reno..I should get 320pw in rent and almost guaranteed CG.

Adelaide is no Sydney...the money is in the suburbs closer to town...say within 20-30 minutes from town....good buying.

 

Exactly

So whole metro?

 

Patience grasshopper....all will be revealed soonish.....I am not knocking Elizabeth (remember I own one there)....just that 90% of Adelaide locals would refuse to live there if they had a choice.

 

no probs, sing out if you need any help at this end

 

Hi Cliff, I provide home loans advice and opinion on where to buy