Hi Guys, I`m looking to buy an appartment in outter Sydney My budget is 180k, and i have no idea about the areas up there. Could anyone be so kind as to give me advice for areas for good long term growth and good rentability. I`m trying to do due diligence but really have limitations. Any thoughts or comments will be greatly appreciated. Thanks DWG.
At sub-$200k you may be hard pushed to find anything in reasonable travel distance to town however you may find something around Punchbowl/Lakemba/Wiley Park or Harris Park (Parramatta). Possibly you may find something around Guildford/Auburn but unlikely, also Blacktown/Seven Hills/Toongabbie. Further out your choice opens up with areas around Penrith/Kingswood. All of these areas are serviced by either the south-western or western train lines.
Hey Scott No Mates, Thanks for the reply. Can i ask are you from Sydney /NSW or jf you know how the appatments are performing. In Melbourne where i`m from there going berserk. Cheers.
Yes, I am Sydney based. Gross yield varies widely however I have seen some recent deals done on strong yields around 4.5% (not in the areas that I mentioned – you'd have to double the price tag). Prices are at the top end of FHBG etc but competition is quite strong right up to the $1.2-$1.4 m mark
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