Wondering what people’s thoughts are on purchasing an IP in Bradbury? I did some research and it appears that the area is going through gentrification and the Airds Bradbury Project is looking to replace public housing with a mix of public and private housing. i.e, replace 1470 social housing with 600 in a mixed community as opposed to concentrated housing. Would such a project have much of an impact to the suburb?
Yes if streets are chosen carefully the area has some very nice pockets, and some big picture improvement as mentioned. I am just a bit wary of the prices these days the last 2yrs have really seen some growth so your yields are right down. You can do better elsewhere for yield and for more short term capital growth. If its long term and you want to be in the Campbelltown market (or are just desperate to get into Sydney) its fine. If you want to catch the ripple you sort of missed it.
BuyersAgent | Precium
http://www.precium.com.au
Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
Thanks for your input knightm. It’s a yes to both, it will be for a long term investment and I’m desperate to buy in Sydney with around $350K. I did briefly consider outside of Sydney and interstate, but dropped the idea as I’m just not comfortable with it.
And like you said, I have missed the ripple in Sydney and am buying at the top of the market. A bit of a sucker but I try not to dwell over that fact too much since I haven’t been in a position to buy up until now anyway. I’m going by the philosophy of ‘It’s About Time in the Market, Not Market Timing’ :)
I was looking at Bradbury a couple of months ago as well.
And as always, knightm is spot on once again with the advice.The growth started 2011-2012 with an average of 3.7%.
2012 – 2013 = 8% average
2013 – Sept 2014 = 14% averageJust some very rough numbers but it gives you an idea of the place.
Cheers!
PHP | Mortgage Station Pty Ltd
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Thanks PHP! Good data you have posted there to see what numbers are actually behind that growth story. To the original poster if you can find a house in a decent street for $350k then you will do ok most of them are over 400k now.
Time in the market is vital long term, but my view is that timing also counts. Comfort is a funny thing too – some people are comfortable or uncomfortable with areas, I tend to be comfortable or uncomfortable with sets of numbers. Different ways to look at investing, and both have their place. Best of luck!BuyersAgent | Precium
http://www.precium.com.au
Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
The place that I was eye-ing was listed at offers above $360K. I was considering trying my luck at around $360Kish if all checked out, but I couldn’t even get through to the agent after numerous calls and messages. Checked again this morning, and it was under contract. It was probably already under contract when I was enquiring about it last week and chances are it probably went for closer to $400K as you mentioned. I’d like to find out how much it sold for though. This is the place http://www.realestate.com.au/property-house-nsw-bradbury-118625943.
Yep no doubt some of the cheeky ads are generating interest and selling above asking price. Best of luck. Still a few in that price range in Illawarra, not many.
BuyersAgent | Precium
http://www.precium.com.au
Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
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