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I think that when you buy properties you must have an exit strategy. If market is oversaturated, it could be hard when it comes to sell. I think in this market it’s important for a property to have a unique selling point. Buying an apartment of this type may be okay if it was unique in some way (eg only one with wheelchair access).
I’m also yet to see one of these apartments that are cash flow +, normally there are high management fees, rates etc, like G7 pointed out.
Be very careful if advertised as inner city, high capital gain etc! Steve’s recent post reinforces the danger of buying an inner city apartments.
https://www.propertyinvesting.com/forum/topic/18536.html
You’re far better off concentrating on average/emerging suburbs, with high growth potential.
Anyway, just my opinion and observations [biggrin]
Newbie
Hi Liz
I have found that some real estate agents publish useful reports, eg Herron Todd White. This is useful for showing whether there is oversupply. Also has other interesting market info.
Check out their link:
http://www.htw.com.au/pages/info_centre/reports_list.asp
If you were interested in vacancy rates, which is the demand aspect, you could check out Gov publications.
Where exactly are you looking? Anyway, hope this helps [biggrin]
Cheers, Emily
Newbie
Thanks for everyone’s comments and thanks Jarrah for offering to take a look. [exhappy] Only do this if you are interested in the place to invest! It seems that Cunningham St also has a reasonably priced 2 bedroom unit. I’m guessing from crj’s comment that catherine drive is still dodgy.
I’m in the process of investigating Dubbo’s capital growth. I suspect it will be steady, but will have to do some more research in this area. I just wondered whether anyone had local info, before I forked out for a property report!
I’m in the process of investigating various areas before I go out and hit the pavements. I’m considering the following areas, which I believe to have potential, both in terms of +cf and/or growth:
– Warren (near dubbo)
– Cairns + Edmonton
– Rockhampton
– Caboolture
– Mackay
– Beenleigh, Eagleby, Logan Central, Woodridge
– Brisbane CBDWould be grateful on any comments on the above.
I’m also looking at commercial property, as I think that there’s much stronger returns. However I’ve found so far that the better opportunities are out of my price range, considering 30% deposit, GST etc
I wish I had the money to buy blocks of units. Here’s a potentially good deal I’ve just seen [suave3]
Newbie
