fionaParticipant@fionam9Join Date: 2014Post Count: 2
I am hoping to buy an investment property in Western Sydney, prob a unit for under $300K. Problem is, I’m new to this, and I’ve never lived in that area so don’t know where are the good/ ‘bad’ suburbs and parts of suburbs.
Where is the best place to go to get this kind of information?
Also, does anyone have opinions on which ‘property guide’ to buy- that tells me which suburbs have had what growth etc?
Any advice greatly appreciated!
ThanksJamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
Welcome aboard :-)
Personally, I think the West Syd boat has sailed – some of the properties going for $300k were being sold for $100k less only a short time ago. For that reason, I think there are better opportunities in other markets.
In terms of gathering data – I’ve got a fair few property data website links here if it helps – http://passgo.com.au/property-data-websites.html
JamiefionaParticipant@fionam9Join Date: 2014Post Count: 2
Thanks for the welcome Jamie!
Yes, I’ve been watching prices go up and up in Western Sydney these past couple of years. Problem is, I only have $300,000 to spend. So I’m still trying to guess what would do better in terms of capital gain over a 20-ish year period: a 300K house in a regional area like Newcastle, or a unit around Liverpool way. Anyone got a crystal ball?? Or even any advice?? :)
FionaJamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069mattstaParticipant@mattstaJoin Date: 2011Post Count: 604
I saw some a few months ago in Western Sydney for around 290 just past the blacktown area.. but they get snatched up very very quickly, and the demand has been driving up prices so that there really isn’t much anymore.
You could wait for the market in Western Sydney to slow or burst and then get into it when prices dip a little – but you may have to be patient.
Otherwise, you could check out other areas outside of Sydney, or check out other capital cities in Australia.