Hi Folks,
I am hunting for my 2nd property in Sydney for investment. My budget is around 700k. Could you please recommend any suburb that I should target with my budget where I can get maximum return in rental. First preference is house, if not than townhouse or a Unit.
Thanks for your suggestions.
Regards,
D.
I heard about Brisbane .. and its potential in next 5 years. But I live in Sydney, so prefer to invest in Sydney.
why Brisbane?
what potential ?
Double Bay
Lakemba
Go West, in the corridor from Toongabbie to Penrith
Ewwww Mt Druitt
While i dont live in Mt Druitt or near it, its had a few million $$ sales. Some investors have made a furtune from cheap properties and had strong yields
Have fun with the impending interest rate hike. Mortgages should come with a health warning.
Ashfield unit, close as possible without the noise to the train station. has older units which the strata is less. 20min to the cbd n has a shopping mall plus heaps of other shops, restaurants on the main road.
And in high demand by the 99% Chinese who live there.
Point piper
Bondi
Whale beach
Newport
Palm beach
Im in the same situation, issues are more of impending slump when rates increase due to all people over leveraging on cheap interest.
I think areas like Gosford might still be ok, but otherwise out Penrith way, or towards new airport infrastructure lines.
its also worth looking at industrial such as small warehouses, more risky on the leasing timeframes but yields are positive from what I've seen around Wetherill Park.
If you look at RBA rates they have been low and unchanged for so long, but bank funding spreads are about 2-3%, i think inevitably well see cash rates up and unfortunately many will be crying mortgage stress but in reality its more or less brought upon by themselves. Thats when I'm waiting to pull the trigger.
I think the real sleeper is going to be what comes out of the royal commission and the almost certainty that the banks will have to tighten up their lending criteria (e.g. 3 x income and not 4 x income etc). People are just not even going to be able to borrow enough to buy an entry level home on their salaries - so there will be another downward pressure on prices.
I was having the same thought as you before, but …
"The Market Can Remain Irrational Longer Than You Can Remain Solvent"
RBA don't have balls for rate rise as they know what that entails.
The gov is prepared to destroy any growth for a decade of stagnant economy to avoid any serious crash. They will open the immigration flood gate for rescue.
The only way for the bubble to pop is by external factors aka another GFC and this time no mining boom to help us getting over it.
Either eurozone crisis with deutche bank goes down / canada popped / china popped
- Sydney
- 700k
I wish I had good news for you buddy, but…
The maths don't add up?
Spot on.
You can find a unit (2b 2b 1 car space) in Rosehill 2142 (James rs / Rosehill racecourse) between 630k to 700k. It is close to Parramata (5 minutes drive) and Harris Park and also has its own train station and bus service.
own train station
Which isn't really any benefit as you can only catch it to Clyde or Carlingford
Only time it’s regular is during peak. Other than that it’s 1 hr waits
Yes, from Clyde one can travel to City and onwards. Also the light rail would be built in couple of years.
Brisbane … seriously!