Ive been away from Sydney for 4 years & Im thinking property prices there have bottomed.
What are the best value suburbs?
Im looking for a reno, up to 300k
Crashy,
you will have to go to the very outskirts of Sydney 20km+ to find a house at that price.
Maybe you can afford a studio, but then you wouldnt have much to renovate……Why dont you join forces with someone else?
Frank
nobody thinks theres any value in Sydney?
Hi Crashy,
I would suggest you look at Seven hills as prices in this suburb and some surrounding suburbs have bottomed out in my opinion. Good thing with Seven Hills is that it has a train station plus a new business park is planned to get created there.
Regards,
SK2
Crashy,
I think there is real value emerging in parts of Sydney. Prices in inner Sydney will probably move first similar to inner city Melbourne prices (just 6 mths to a year behind). Prices for some inner city sydney suburbs (such as Surry Hills) have already moved 10%.
I recently settled on the purchase of a 2 bedroom unit in Auburn (16kms from Sydney cbd) and 4 train stations east of Parramatta. Gross rental retun on the unit is looking like being 7.25% pa, There are a few 2 bedroom units selling in this area for under $200k with rental yield of 6% or higher. The area seems to have been caught up in negativity over property prices similar to that affecting suburbs in the South West. I feel this negativity will change soon.
Residex predicts 9 % pa captial growth for Auburn units for the next 5 years.
Ajax
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