Worst suburbs to buy in 2016

Discussion in 'Where to Buy' started by Barny, 12th Dec, 2015.

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  1. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    It'll be great for growth once all of that is built but we're only talking about 2016 on this thread and rents are still catching up with the price increases.

    According to Domain prices in the west dropped by 7.3% in September and auction clearance rate was at 56.4%. West and South West Sydney had the lowest auction clearance rates of the entire Metro area in September.
     
  2. HUGH72

    HUGH72 Well-Known Member

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    Interesting thread, I look at this 2 ways:
    1 Locations where I would never buy, due to size, negative population growth, too reliant on one industry etc etc
    2 Locations where timing comes into play, places that might be on the nose currently with falling prices and high vacancy rates.

    Looking at category 2 while I don't think I would touch it in 2016 by 2017 I will be looking at Perth closely.
    Likewise I think there could be a little more pain in store for Darwin, yet it's a market long term I'm keen to get into.
    I wouldn't touch anywhere that has run hard already as a rule.
     
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  3. ZachAnsel

    ZachAnsel Well-Known Member

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    I think Perth and Darwin still down around 4-5 O'clock. So in my view it will "catch a falling knife". Unless you can low ball to desperate seller.

    But I agree with OTP near CBD area will perform worst as well.. Funny because Gold Coast is perfect lesson learned couple years back, yet people still purchase OTP when the clock market is about to fall.
     
  4. larrylarry

    larrylarry Well-Known Member

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    When you say Perth are you talking about mining towns or generally across the metro? I would love to own something in Murdoch and surrounds.
     
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  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Tennex, are you referring to Badgerys Creek Airport. A quick glance at the EIS would show that not all of the services are going to be available day 1 for the first flight. The airport will be rather small scale for several years (similar size of a regional airport catering for 1 million passengers/annum). Until the airport strikes critical mass, much of the mooted infrastructure will not be budgeted, designed or built.
     
  6. Arashi87

    Arashi87 Well-Known Member

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    Worst suburb sometimes can become a good suburb to buy when others are moving away from them:D:D:D
     
  7. melbournian

    melbournian Well-Known Member

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    true many years ago, in melbourne - footscray, maidstone, west footscray, sunshine were suburbs ppl wouldn't consider buying as they had a stigma attached to it. just last weekend footscray sold a 2 mil dollar house.
     
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  8. Perthguy

    Perthguy Well-Known Member

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    I am currently looking to purchase in Perth and I'm finding prices still falling and many properties overpriced. So @larrylarry, I would say this is metro wide.

    That said, in high demand areas where properties are priced well, they are selling quickly. Anything with a sniff of being overpriced is sitting dead on the market. I am following a number of properties that were listed in Jan/Feb this year. That is a long time to be on the market.
     
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  9. See Change

    See Change Well-Known Member

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    Seriously ? ... I don't have anything there but .... If you'd said the Logan of Sydney , I'd agree

    There were plenty of peopl bagging Mt Druitt 3 years ago , yet it doubled . Some people are just short sighted .

    Cliff
     
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  10. JohnPropChat

    JohnPropChat Well-Known Member

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    Suburbs listed in magazines and seminars. Most of them have already moved and are listed retrospectively.

    New estates in Perth - amazing how developers managed to keep all prospective buyers in a cone of silence.
     
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  11. JDP1

    JDP1 Well-Known Member

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    Well...you could make an argument that Logan is closer to Sydney than it is to brisbane :)
    edit: logan will do ok...certainly not the worst - purely in terms of CG/Yield...its low entry price will help in decent CG numbers. CG will be volatile though...
     
    Last edited: 14th Dec, 2015
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  12. norwoodman

    norwoodman Well-Known Member

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    Here's one vote for avoiding Brisbane CBD apartments - another one with 653 apartments announced today. This will be the fourth apartment building in central Brisbane to reach the city's height limit (274m AHD) in addition to the other three which all have around or more than 500 apartments each.

    [​IMG]

    More here: New 80 Storey Skyscraper Proposed for 171 Edward Street | Brisbane Development
     
  13. JDP1

    JDP1 Well-Known Member

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    Agreed...at least it looks half decent...
     
  14. trinity168

    trinity168 Well-Known Member

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    Reminds me of a podcast I heard on planet money. If I remember correctly , once the Empire State Building was built, the Great Depression followed. When the Malaysian twin towers were built, the Asian financial crisis happened. When the Dubai building was finished, the GFC struck.
     
  15. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Anywhere in Australia :D

    Maybe I haven't been feeling confident in the economy lately. Could be because I live in SA:(
     
  16. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I was really keen on buying a 3 bed unit in Brissy earlier this year (something for when the kids go to uni etc) glad I didn't, would have been a bad financial choice and too much of an emotional buy.
     
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  17. larrylarry

    larrylarry Well-Known Member

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    my friend wants to invest in an apartment so that later his child can live in it (adult age) and the apartment costs a lot. He could use the money to invest in more properties, sell later and help his child. I had that mindset when I started investigating property investment but is this a good strategy? I think it's worth a discussion in a new thread. :)
     
    Last edited by a moderator: 4th Nov, 2016
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  18. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I won't steal your thunder Larry, unless you don't have kids and it's a pointless thread for you to create!
     
  19. larrylarry

    larrylarry Well-Known Member

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    I have 2. :)
     
    Last edited by a moderator: 4th Nov, 2016
  20. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I have 4. Does that mean I win or just that I'm twice as crazy?