NSW Wyee property growth

Discussion in 'Where to Buy' started by innovatism, 29th Oct, 2019.

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  1. innovatism

    innovatism Well-Known Member

    Joined:
    19th Sep, 2019
    Posts:
    84
    Location:
    Sydney
    Hi All,

    Looking to build duplex in Wyee and got appraisal and looks 4 bed 2T would be of value aroumd 480 minimum. Rental yield will be around 440 to 450 a week.
    Are these figures looks achievable for wyee as I am looking for investment with positive gearing. Or I am too optimistic or value can be below than this too( as per current market without taking market growth)
    Also, i have checked property growth in Wyee and it got up by 12 percent in last 12 years but down by 3.5 percent just in last quarter. Is there any specific reason why when property started going up everywhere it is going down in Wyee. Area will be 5 mins from Wyee station by walk.
    Compared to Thornton, wyee is better or Thornton as Thornton has good growth too but as I am Sydney based, wyee is bit closer from Sydney.

    Please help guys. :)

    Thanks
     
  2. innovatism

    innovatism Well-Known Member

    Joined:
    19th Sep, 2019
    Posts:
    84
    Location:
    Sydney
    Sorry, that was a typo, that was 12 percent in last 2 years. :)
     
  3. innovatism

    innovatism Well-Known Member

    Joined:
    19th Sep, 2019
    Posts:
    84
    Location:
    Sydney
    And my main focus is Equity gain via duplex which looks like achievable. But if it's not negative gearing, it will help me in installments as well as to buy more in future as bank will see both my borrowing capacity ( which will be reduced after buying this) and Equity built.