NSW Which city do you like for 500k

With all the talk about Sydney's property prices, many people on tight budgets will need to look elsewhere if they want a house.
Currently 3 places that come to mind are parts of Newcastle (e.g Cardiff), Adelaide and even Hobart.
Over the long term which of these 3 cities do you expect to have the best prospects for economic and population growth.
Couple of questions;
1. Has Newcastle fully reinvented itself as a viable alternative for Sydneysiders with a vibrant economy able to sustain employment?
2. Is the latest positive growth of Hobart just short term investor sentiment or is there more going on because for many years this has been the poorest performing capital in Australia?
3. As a city, is Adelaide too isolated for Sydneysiders to consider as an option and how structural are Adelaide's economic problems. As a city it gets high ratings for liveability but then you hear negative sentiments with stories of people leaving.
Interested in what people think about these 3 options.

 

You don't list the option, however a well located house within 15km of Brisbane CBD will have 500k well spent.

 

If own livings, adl no brainer... however for investment, I would prob pick Brisbane or even Hobart.

 

Talking to an investor friend in Newcastle she tells me it's a hot market

Also believe Hobart inner city has been a strong performer

Do a search on PC there are threads on these markets

I would also make you you do appropriate ground work, phone re agents to verify what is happening

 

Adelaide is nice city. I'm interested whether Sydney people have this on their radar because it's definately an option out there price wise . There is talk that they are moving to the Central Coast, Newcastle and Wollongong, maybe it's keeping family ties, but will be interesting to see if this is the case.
As far as investment is Hobart the flavour of the month or will it overtake Afelaide's median price?

 

I think every agent is going to say the same thing, it's the best time to sell, it's the best time to buy.... just my 2 cents

 

You need to ask the right questions

Volume
Days on market
Who is buying
What are they buying
Multiple offers

Check sold properties
Check out realestate.com for signs of movement

Need to phone lots of agents easy to work out fact from fiction this way

 

I think these three cities move in different rates comparing to syd and melb, which prices change in 12 months significantly. These three cities tend to move in three years time frame, which means you won't see much movement till three years gone by, you start seeing a bit of move, then another three years etc.

Reason I voted Brisbane is prob they have the population base, its close to Sydney, it's got Gold Coast, with lots of foreign investment... and it's more diverse. However the oversupply is an issue too...

Hobart is nice too at least it's got a booming tourism industry, its close to melbourne and also it's the cheapest, high yields.

Problem with Adelaide is, it's hasn't got enough population/ migration inflow, and not as many diversified industries. The only remedy I could see it shoot up is unless the federal government brings some huge project to it, for example billions and billions of defense projects to it, which is really... unknown....

If you have a lot of free money where you want to diversify, it's not a bad place to bet, at least it's such a livable place, but if you want to make big CG out from 5-10 years, I am really not that hopeful...

However, there are heaps of extremely beautiful houses in adelaide, costing a fraction of prices in syd and melb, you could acquire it for future retirement, not a bad option too.

 

I was there yesterday and place seems very busy. There are properties in the mid 400's around Cardiff with rent around 400 per week and 40 days on market. Is it too late to buy here?

 

Newcastle or Brisbane but I have vested interest in both
Try to buy as closer to Newcastle if you can
Cardiff is lake mc council- so subdivision rules are different to Newcastle (where you can subdivide 500m2 lots a long as frontage 15m)

 

Canberra

Median price has just exceeded 700k - catching up to Melbourne

 

In 15 years time when you tell people you bought in outer Melbourne (which may very well be our largest capital by then) for under $500K they'll ask you why you didn't buy 5 of them.

 

Newey is cooked in my opinion. For this cycle anyway.

 

That's what I'm concerned about so I thought with Cardith/Macquarie hills being further out it maybe better, or is it cooked as well? Things are selling in under 40 days which may sound that it's cooked as well whereas parts of Adelade I'm looking at is 72 days.

 

And you'd expect them to give honest answers ?
I am truly curious to know how a beginner investor would really know fact from fiction, the data for which has been supplied by an REA ?

 

Plus there seems to be many views on topics that can be conflicting. For example some commentators are very positive about investing in Hobart while others may urge you to avoid investing there.

 

Thanks MTR, but could you please elaborate for this noob..

Any other questions to ask?

 

No idea, its worked for me, great success, ask lots of questions and I am a good listener, most people wont do this.