Hi Everyone,
I am in my early 20s and I am currently researching on all various areas to invest into for my first investment property. I have a budget from $250K – 400K and I was wanting to get some people's opinions about areas that have High Capital Growth Prospects and High Rental Yields.
If anyone has some knowledge and insight in these areas, your wisdom would be more than appreciative.
Thanks!
Argh so tempting – it takes all my restraint to not spill the beans on some of the cracking locations I've been sniffing around lately
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Come on jacm spill the beans or else……
Sharing is caring!
heheWould you also mind sharing how you do your research Jacqui?
Ryan and boys hate to say that is proprietary information and is why JacM charges for her services.
Nothing in this world is free and i would certainly not expect her to spill here secrets on a public forum.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
I'm looking for someone who knows what next weeks winning lotto numbers are.
There is quite a bit of difference in your budget there PDimi, you could possibly look to maybe buy 2. Trust your own research, and were you thinking of any particular area of interest to you? Do you want a property close to home or in a different state? Did you want a house or unit? Did you want the high risk of the mining towns or did you want the security of inner city? You need to consider all this in your investment planning its something a buyers agent can't help you with. There are opportunites in every city every town in every state in this country. If your more specific with your question, can chuck a few areas in which you can look into.
Hi PDimi,
You haven't placed any restrictions on your initial question so I am assuming everything is on the table.
Not convinced the property market is poised for a surge – methinks more of the steady cyclical market type movements.
Have you considered looking at strategies which allow you to add value (capital growth). By extension the same approach often also realises higher than market rate rent returns. You may wish to investigate renovations, sub-divisions or JV projects.
Well I was looking and researching the Muswellbrook, Maitland and Cessnock areas up in the Hunter Valley. But I am not really sure if I have missed the boat on those areas or whether those areas are looking to grow quite substantially in the next 5-10 years. They are areas which may benefit from mining but are not solely dependent on mining. I am based in Sydney so I am open to areas in Sydney and regional NSW. My budget is more closer to the $250-300K mark.
Look at Maitland, Cessnock, Metford if your budget is around $200k and look at Edgeworth, Windale if your budget is around $300k. You can find bargains but you need to always have your eye on the market, be quick and ruthless because you will have massive competition.
Cessnock and Maitland markets have cooled a little due to new developments, increased supply and weakened rental market.
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Understandable why JacM wouldn't release suburb info.
BUT…. Some stats would be good. What sort of yields, avg. price of stock and growth potential are we talking here? Metro or regional?
Nothing but a good opportunity for Jacqui to draw some more clients in.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
I think the old ACT still has legs – you can pick up a detached house on a decent block in the far south and north burbs for low $400s, tart them up with a cosmetic reno and rent them for high $400s per week. Long term the growth will be fine and the yields will be ok so the holding costs aren't overly burdensome.
I'm a bit biased though – I've for handful of IPs here and will look to buy more soon.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I look at areas with average of 10% per annum capital growth, min 6% rental yield, high demand for tenancy and infrastructure projects in the pipeline. Metro and Regional. The bulk of the stock I look at and buy is priced between $200k and $300k.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Jamie M wrote:I think the old ACT still has legs – you can pick up a detached house on a decent block in the far south and north burbs for low $400s, tart them up with a cosmetic reno and rent them for high $400s per week. Long term the growth will be fine and the yields will be ok so the holding costs aren't overly burdensome.I'm a bit biased though – I've for handful of IPs here and will look to buy more soon.
Cheers
Jamie
Rumor is Abbot will do a hatchet job on the public sector. I see that as almost a certainty given the economic challenges coming our way. Abbots likely to grab the top job without too much difficulty and he'll almost certainly have little trouble from a weak opposition. Unless they blow the ship up in their first term you could see a 2 -3 term govt. Public sector RE in the ACT could be tough going for a few years if that scenario unfolds.
Freckle wrote:Jamie M wrote:I think the old ACT still has legs – you can pick up a detached house on a decent block in the far south and north burbs for low $400s, tart them up with a cosmetic reno and rent them for high $400s per week. Long term the growth will be fine and the yields will be ok so the holding costs aren't overly burdensome.I'm a bit biased though – I've for handful of IPs here and will look to buy more soon.
Cheers
Jamie
Rumor is Abbot will do a hatchet job on the public sector. I see that as almost a certainty given the economic challenges coming our way. Abbots likely to grab the top job without too much difficulty and he'll almost certainly have little trouble from a weak opposition. Unless they blow the ship up in their first term you could see a 2 -3 term govt. Public sector RE in the ACT could be tough going for a few years if that scenario unfolds.
yep – it's the same story each election.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Jamie M wrote:yep – it's the same story each election.
Cheers
Jamie
Trouble those buggers is you never know which way they'll jump from one day to the next.
Over how many years does that 10% per annum capital growth include as usually those figures only go back 10 years. Should we ignore those areas which might average 10% per year but that is due to outliers. Also what is generally considered a good vacancy rate?
Hi
Found this property for sale, price $265k rents for $400. Not bad, but I wonder if thats the rent for both the house and the granny flat
Mmmm 7.8% based on PP. I would assume the granny flat and house are rented as one property.
I would pass on it just because of the size of the town, but that's me.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
hehe
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