NSW Where to buy in Sydney - advice needed

Discussion in 'Where to Buy' started by Seal, 10th Jul, 2015.

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  1. JDP1

    JDP1 Well-Known Member

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    No ones saying you must sell when the market is high..it's fine to hold till retirement. Ideally you would want cg as much and and as soon as possible per cycle. You can take equity out and fund another property or something else...
    The issue with Sydney is that it's questionable how much cg it has remaining in this cycle, because it has done so much already, as compared to other markets. You will likely need cg sooner rather than latter to fund your next IPS as you say is your goal. Buying in other markets that have not done as much as Sydney should not be purely seen as timing the market.
     
  2. WinDyz.

    WinDyz. Well-Known Member

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    I see it as speculative. I would rather buy in a premium location that I know has been performing well in the past, than buying in other state that I have no idea and risking it.

    Last year there are several people suggesting that Sydney has reach the top of the market, and there is no growth left. But I bought my 4th IP in Sydney two and half months ago and it has gained around 50k-70k in that 2.5 month duration (Valued by the bank).
    There are market within market... and i don't think it's possible to say which market have more growth than the other.

    For me buying in Sydney is safer, as i can visit the site and see where the market is going (supply and demand). I can go to an open house once or twice a week, attend auction every week, and studying the area around it (i.e. location, school, cafes, transport, finding out potential new infrastructure, etc) in particular area that i want to buy.

    Where if i have to buy in other state, I would not be able to do my DD at this kind of level, and I'm not comfortable buying without this kind of knowledge. Unless i engage with buyers agent.
     
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  3. JDP1

    JDP1 Well-Known Member

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    Ok, I had an idea there might be a bit more to it..you don't want to take the risk of a market you are not familiar with...that's understandable. However, does not necessarily mean other markets are speculative.
     
  4. meme plecko

    meme plecko Well-Known Member

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    As risky as Sydney is right now, where else can you get this much capital gain this quickly?

     
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  5. JDP1

    JDP1 Well-Known Member

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    1. Don't know whats behind the numbers- could be that the property was purchased below market value...or could be that its had capital improvements, or simply capital growth or a mixture ...dunno.
    2. Assuming its pure organic growth, do you think those numbers are sustainable?

    I think you would find areas in Melbourne eg glen Waverley that have also gone crazy with growth numbers in a short time.
     
    Last edited: 17th Jul, 2015
  6. meme plecko

    meme plecko Well-Known Member

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    Oh, yes, GW in Vic, of course ☺
     
  7. Gibson

    Gibson Well-Known Member

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    Wow congrats, great to hear. Are you able to share which district No4IP is in?
     
  8. C-mac

    C-mac Well-Known Member

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    WinDyz I too would be keen to hear which market you purchased in, in Sydney. Not looking to buy in Sydney myself (I stopped buying in Sydney in 2012), but I enjoy hearing about people's buying suburbs within Sydney, at this point in Sydney's cycle.
     
  9. meme plecko

    meme plecko Well-Known Member

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  10. Seal

    Seal Well-Known Member

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    What do you reckon a good 1 bed is worth at present.
     
  11. Steven Ryan

    Steven Ryan Well-Known Member

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    @Seal, without parking, a good, established 1 bed near transport etc will fetch ~$550k.

    Would have paid $100k less a year ago.
     
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  12. meme plecko

    meme plecko Well-Known Member

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    Steven,you are looking at 50 properties in Brisbane today, commenting on where to buy in Sydney thread, inviting everyone to have a coffee with you this arvo, where do you get all this energy from? Red Bull or something more serious?
     
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  13. Steven Ryan

    Steven Ryan Well-Known Member

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    Adrenaline!!
     
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  14. Tekoz

    Tekoz Well-Known Member

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    @Seal for one bedder or studio, I strongly recommend Sydney CBD or anywhere close to inner city area, look for the suburbs statistics where the dominant population is young professional.

    You won't regret the above decision since it is proven and tested.

    Hope this helps.
     
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  15. Gockie

    Gockie Life is good ☺️ Premium Member

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    I think the boom makes Sydney a bad place to buy atm. But if you must, a 1 bedder inner city/inner west is ok at a good price (if somehow you arent fighting multiple others to buy it) but i'd still avoid a studio anywhere. Too small. Slower growth. Harder to borrow for.
     
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  16. Gibson

    Gibson Well-Known Member

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    Agree w Gockie, if you must - Inner West still has some pockets where you can grab a reasonably sized 1 bedder. A parking spot or garage with it even better.
     
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  17. sash

    sash Well-Known Member

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    WinDyz......question....how many cycles have you seen in Sydney??

     
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  18. Tekoz

    Tekoz Well-Known Member

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    @Gockie : yes, that's what I'm now aiming to buy, if I can't get it, then it is fine, there will be another chance especially during 2018, thanks for the suggestion and tips, I appreciate it muchly:

    Read the full story
    http://abc.net.au/news/6628408
     
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  19. Tekoz

    Tekoz Well-Known Member

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    @sash do you mean this graph:
    Since 1996

    [​IMG]
    that's from RPData http://blog.corelogic.com.au/

    ifyou have more complete graph, please share it here man.
     
  20. WinDyz.

    WinDyz. Well-Known Member

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    2