Help! New build vs older property 4 capital growth

Hello,

I am looking at buying my first IP, I have found on close Hyde Park Sydeny, fringe of CBD. Modern Development, 1 yr old, 1 bed, 52 sqm. I plan to negatively gear.

I like the depreciation aspect of new property, however as i am thinking 7-10 year time period before I sell, my interest is capital gains, so i need to find a property with scarcity value.Location of this property is great, but i read somewhere a) new devlopments you pay developed margin and b) so many out there when you resell lacks scarcity value.

The number do not look so bad, but worried about modeern development issue, however I am looking upto 350 range, so older properties are just art deco block which i don’t like so much personally-leads to my second question:

what is better long term investment new moden development fringe CBD surry Hills or art deco unit around potts point?

Thanks for your help. This is my first investment property in Sydney, so I am still learning local market (I have IP in London and land on greek Islands so i have basic Investor knowledge, not local knowledge)

Really appreciate yur help.

Christian.