NSW Where to buy IP in Sydney with $1 million

Tough yes. But maybe possible. I reckon they'll all disappear though soon.

 

Haha... Why don't you give the GPS coordinates?

We did the SW drive once. It felt lot longer than 1350 though.

 

Agreed. Per one of our key contacts, a lack of stock is increasing prices and making the market more hotter....this is Western Sydney.

 

If you're ok with the likelihood that Sydney is all but out of puff and won't do much for a decade, go blue chip.

 

If you have 1.2-1.3 you could buy a nice 3 bedder unit in manly .

Though it would have cost around half that five years ago ....

Cliff

 

I would agree with this.
Although the non blue chip sydney may have more upside potential, but likely it will also have more volatility.

 

I think you have to give a definition on non blue chip so we can debate. Is it places where the home median is under 1 mill?

 

fair point. I keep thinking its like Brisbane where $1 mil will buy a f@#$ing mansion overlooking the river with cityviews ...
In sydney, 1 mil may get a bit more than a car spot. ...
Anyway, my point is , in sydney, buy the best neighbourhood you can afford taking into account where its in the cycle as there may not be much in the tank for any sydney neighbourhood; on this cyclke, but next sydney cycle, I would think the better areas will be amongst the first cabs of the rank to boom (as they did in the cycle a few years back?)...As long as you can hold it for that long.

 

If you can afford it.... but I'm not planning to buy $1 mill IPs.
And in other news... mearly 379 suburbs in NSW have a $1 mill median...

The number of million dollar suburbs has continued to rise

 

The area near Macquarie shopping centre and Macquarie University is a good investment, new apartment sold 70k for 1 bedroom 2 years ago and you can go for an old apartment for good value for 2 bedrooms, easy to rent out and good rental return as well.
Lots of big companies in Macquarie park and North Ryde.
Close to Eastwood, Chatswood, Top Ryde shopping centre as well.

 

there is a suburb - brisbane - 900 km north, or wollongong/newcastle.

but if you are risk taker, i would buy two old units in small eastern suburbs unit blocks. soon after new strata laws, they may be all nocked down....

 

Care to elaborate on the new strata laws and why small blocks will be knocked down?

 

the older blocks, like this one: 9/94 Gardeners Road Kingsford NSW 2032 - Apartment for Sale #124004386 - realestate.com.au have 9 units. each one now ~ 800K or less. under new laws 75% of strata people can approach a developers and sell the block. thats 7 people. easier than convincing all of them. i.e. you can outvote the "top floor - prime residents". my view only offcourse. if i could - i would have bought a few of those.

 

The area within 10 minutes walk of Rouse Hill Town Centre will continue to do well. A very popular destination precinct now.

• Rail link opens in 2019 which will run through Epping via Norwest and Macquarie Park and finish at Chatswood. Once the Rail Link opens it will be about 10 minutes to Norwest Business Park and 30 minutes to Macquarie Park and the Uni. I expect 50 minutes to the city one the second rail crossing via Barangaroo opens.
• The town centre will double in size. Construction of the new section between Rouse Hill Drive and Commercial Drive will commence in 2017
• Hospital is planned for 'Rouse Hill'. No formal announcement yet and site has not yet been selected. Money from poles and wires is going towards funding it.

Detached 3-bedder houses close to the town centre are selling for the $900k to $1M mark. Units (2-bedders) at the perimeter of the town centre are selling for $800k-ish ( The Boulevard). Others a bit further near the mean fiddler are selling for $670k.

I live in this area and have been watching its development closely for 14 years. I got into the market here at a good time (2012). In my opinion the walkability of the precinct and the rail link will underpin values here.

I'm tipping the market here to rise 10 to 15% in the next 12 months. It could easily do a minimum of 5% pa after that until the rail link opens in 2019. Well that's my hope anyway

 

You'd drop a mill on some recommendations of strangers from the internet?

 

A million dollar house is only a normal house in middle ring Sydney.... chump change here.