I recently got IP in Heckenberg (near Liverpool in Sydney south west). 900m2 block $350 pw rent for house (they have being there for a few yrs and happy to stay) and instead of putting up the rent we will convert the massive garage into granny flat for about $20,000 and hoping to get another $250 rent pw. The house cost under $320,000.
I work near the area and its such a bargain as u got M7 and M5. So much new land and housing that it also increase demand and prices. Also massive Liverpool hospital makes buying units in the area very easy to rent out. Near hospital u can get older units for under $200,000 and rent at $250. This is just my 2 cents worth.