Where to buy for less than $500k?

I’ve had a good read for hours but everyone is so wealthy!

I have only 1 property that generated enough to purchase a house for around 400-450k.

if anybody is buying in Newcastle, I suggest you do, it “made me” over 100k in a year!
Anyway single income, not huge amounts to go around

I’ve been reading a lot and places do suggest Perth and maybe Adelaide?

are buyers guides good? I just can’t travel as I’m in Sydney.

the idea is for equity. I guess in the next 5-10years to create equity

any suggestions or readings for me?
Thanks!

 

Try logan

LOGAN 2021 [QLD]

 

Somewhere in Queensland, along the coast, with good fundamentals would be your best bet IMHO.

With your budget range, I would personally consider:

• Cairns
• Townsville
• Rockhampton
• Bundaberg
• Hervey Bay
• Mackay ? (Some people here seem to like it but I’m really not sure and won’t personally buy there)

Rocky and Bundy are way below your budget. With your budget, you can get a solid investment in either Cairns or Townsville. Your might struggle a bit with Hervey Bay but I reckon youve still got a chance.

If you’re really into Brisbane, bear in mind that most places in Brisbane have already taken off and some suburbs have already grown 100+% in the current cycle (the median house price in New Farm for example has increased 57.6% in the last 12 months. Isn’t that crazy?!). There are still places you can buy with your budget but they tend to be low socioeconomic areas in the outer ring (not to say that they don’t have good CG potentials, its just something that you need to be aware of and be careful with as an interstate investor so that you can take proper actions to mitigate your risk e.g. property manager, insurance, etc.). Ive included some figures here: Whats ahead brisbanes property market [QLD]