NSW Where to buy for long term capital growth - 900k max

Discussion in 'Where to Buy' started by LM13GR, 18th Feb, 2021.

Join Australia's most dynamic and respected property investment community
  1. LM13GR

    LM13GR New Member

    Joined:
    15th Jul, 2019
    Posts:
    3
    Location:
    Sydney
    (First time poster)

    As the title suggests, I'm looking for locations I may have missed/not heard of that would be suitable for an investment property focused on long term growth.

    Approx. $900k max purchase price and only looking at free standing homes atm.

    I've been looking at the below areas but the growth over the last 8+ months has seen properties increase 100k+

    Central Coast - mainly Umina Ettalong Booker Bay.

    Wollongong - Cormial area

    Newcastle - 2-3km radius of city centre

    Any help would be appreciated :)
     
  2. No_Limits

    No_Limits Well-Known Member

    Joined:
    10th Jan, 2021
    Posts:
    394
    Location:
    Sydney
    Can't speak to other locations or which is best, but Newcastle is good. Has moved, but not as crazy stupid hot as other coastal areas like GC. Don't know if you could still jag something near hamilton/hamilton south area for $900k, but that might be a starting point. Personally I would buy in Newcastle again myself but for concentration risk, won't.
     
  3. Jessi

    Jessi Active Member

    Joined:
    18th Feb, 2021
    Posts:
    27
    Location:
    Sydney
    which suburb in Newcastle would you suggest for an IP? Or like how far from city center?
     
  4. Shamrock1

    Shamrock1 Well-Known Member

    Joined:
    20th May, 2020
    Posts:
    78
    Location:
    Newcastle
    I’ve researched Newcastle lately and the best suburbs under $900k with freestanding houses would be Adamstown/Lambton/Georgetown/Tighes Hill/Mayfield
     
  5. LM13GR

    LM13GR New Member

    Joined:
    15th Jul, 2019
    Posts:
    3
    Location:
    Sydney
    Thanks for the reply.

    I'd love to get something in Hamilton area but there's so little stock there right now. I think a lot of properties are being sold off market.

    Out of the Wollongong, the peninsula and Newcastle, it looks like Newcastles prices have grown the most recently (although all have done very well)
     
  6. LM13GR

    LM13GR New Member

    Joined:
    15th Jul, 2019
    Posts:
    3
    Location:
    Sydney
    Thats where I've been looking. Crazy a house on 445sqm just sold in New Lambton for 1.6m
     
  7. Kensar

    Kensar New Member

    Joined:
    20th Feb, 2021
    Posts:
    3
    Location:
    Newcastle
    I stumbled across a tiny village called Coomba Park about half hour from Forster on Wallis Lake. There was a house for sale so I grabbed it and had a tenant ready to move in and wanting to pay 3 months in advance. The place reminds me of Cape Tribulation with only a general store that sells fuel, groceries and grog- the town is so laid back and immaculate. Real estate prices are cheap- I paid under $400k for a place with beautiful lake views and getting $400/wk rent. Lots of holiday houses there belonging to Sydney buyers who come up on weekends. I think this may be a place to watch in the next 12 months
     
  8. Shamrock1

    Shamrock1 Well-Known Member

    Joined:
    20th May, 2020
    Posts:
    78
    Location:
    Newcastle
    That was an exception though that house. New Lambton prices usually about $1-1.1M
     
  9. Tom87

    Tom87 Active Member

    Joined:
    14th Aug, 2019
    Posts:
    28
    Location:
    Newcastle
    House few doors down on 350m2 sold for 1.7m. But a lot nicer than the 1.6 house.
     
  10. Kersertwo

    Kersertwo Active Member

    Joined:
    10th Feb, 2021
    Posts:
    42
    Location:
    Central NSW
    Have you visited those Central Coast areas? Would love to hear your thoughts. Ettalong is probably my favourite however I need to visit again. I think it has huge potential with less downside. Woy Woy doesn't have the best reputation which is one of my biggest concerns.