NSW where to buy IP for 300-400K, western Sydney or central coast?

Discussion in 'Where to Buy' started by Fadi Keyrouz, 2nd Jun, 2019.

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  1. Fadi Keyrouz

    Fadi Keyrouz New Member

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    Hi

    I am looking to purchase my first IP and ive been doing research ab western Sydney and central coast , any recommendations ?
     
  2. Cate Bell

    Cate Bell Well-Known Member

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    Have you considered a house in middle-ring Brisbane, Moreton Bay or Redlands? I am no expert, but I think those areas (western Sydney or central coast) will be flat for the near future while Brisbane, in the right area, will see much better capital gains.
     
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  3. Cate Bell

    Cate Bell Well-Known Member

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    *Capital growth
     
  4. riahi

    riahi Member

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  5. Fadi Keyrouz

    Fadi Keyrouz New Member

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    Hi Cate , thanks for the reply , i have been looking into this area since last night , it looks like they are a growing area and gv spending money in the infrastructure and within 35min of brisbane , i might consider it
     
  6. marty998

    marty998 Well-Known Member

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    The Manchester St, Merrylands one..... interesting setup they have there with the Microwave :confused:o_O
     
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  7. Propertunity

    Propertunity Well-Known Member

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    As buyers agents, we buy on behalf of clients in both areas.
    For your $300-400K budget, I've been noticing recently, that you can actually get a house on land in some parts of the Central Coast.......probably not really great houses but still a fixer and not a unit with a BC to deal with.
    Some examples:
    71 First Avenue, Toukley, NSW 2263
    95 Delia Avenue, Halekulani, NSW 2262
    119 Tuggerawong Road, Wyongah, NSW 2259
     
    Last edited: 4th Jun, 2019
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  8. NewGuy88

    NewGuy88 Well-Known Member

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    Do you recommend any particular suburbs of Central Coast < $400K? Thanks
     
  9. Propertunity

    Propertunity Well-Known Member

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    Yes, we do but only to paid up, signed up clients - as this is part of our professional services and how we earn income as a BA. I hope you understand. Cheers,

     
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  10. NewGuy88

    NewGuy88 Well-Known Member

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    My bad! @Propertunity
     
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  11. wilso8948

    wilso8948 Well-Known Member

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    I'd probably take that <400k budget up the road and look on outskirts of Newcastle/Lake Macquarie area personally. Areas West of the Lake can find freestanding houses in good condition close to water, amenities and public transport all within 30 mins of Newcastle CBD. Personally I'd choose that over the Central Coast. In my opinion a better demographic and better employment opportunities. All opinion however.
     
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  12. NewGuy88

    NewGuy88 Well-Known Member

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    Thanks for your feedback, any opinion on Cessnock or Maitland ? @wilso8948
     
  13. VB King

    VB King Well-Known Member

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    I would look at where jobs growth, benefit from investment in infrastructure, commutability to Sydney, and improvement in amenity are.
     
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  14. larrylarry

    larrylarry Well-Known Member

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    There has been an increase of people commuting to work from Central Coast to the Sydney metro, as it's more affordable. I was also browsing the realestate.com.au earlier and like @Propertunity said there are some affordable properties ($300-400k) and if you're handy or have a small budget to do a bit of makeover...worth considering.
     
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  15. Propertunity

    Propertunity Well-Known Member

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    Yeah, nah! No so much.
    Back to the northern end of the Central Coast, you can also think about proximity to beaches and the M1 motorway for commutes to Sydney.
     
  16. wilso8948

    wilso8948 Well-Known Member

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    Cessnock/Maitland really only benefiting from growth seen in Newcastle. Better value for money in the price ranges you are looking at. There's an abundance of land out that way and a decent commute to Newcastle CBD
     
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  17. Cmelderis

    Cmelderis Well-Known Member

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    upload_2019-6-14_14-11-22.png

    Speaking od Cessnock, is this sale really something to brag about? 199 Days :eek:
     
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  18. Aaron Duffie

    Aaron Duffie Well-Known Member

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    I live in Cessnock and I wouldn’t buy an IP here. Never been strong growth although you could get good rental yield if that’s what you’re after. I’ve recently purchased in Newy so I’ve done lots of research and you are better off in Maitland as it has lots going for it including just expanded shopping centre and much quicker growing population than Cessnock but ideally you’d buy in Newcastle if looking in the hunter. Although with $300-$400k won’t get you much you’d be buying on outskirts of the city or an old house in need of a reno. Hope this helps