Hi all we were thinking of buying into the wollongong area. It is located near lovely beaches and has all the infrastructure as well as being a commutable (1.5 hours) distance to Sydney.
Does anybody have any suggestions/thoughts about this strategy.
We were thinking of something near the uni to maximise rent etc
Hi Chetnik73.
Im from the wollongong area, have been here since 2001 so if you would like any information on the more afluent suburbs or anything let me know. Its a good idea to steer clear of the southern suburbs unless you are going to go down as far as lake illawarra or Shell Harbour.
Cheers,
Aaron Moffatt
Hi Chetnik The area certainly "ticks" all the fundamentals of a sound area to invest. I would also make sure to do some research on the area, if you don’t live there, spend a few weekends there looking at property so you will familiarise yourself with prices, how much houses and units rent for, what is good value. Leave your cheque book at home for the first couple of trips, until you see enough properties. In my November 07 Newsletter I have included 3 ways you can get market research for FREE. If buying a property in the area will take you closer to your goals and dreams and you can afford it, do your due diligence and go for it.
Happy Investing
Hi Chetnik,
If you were looking for something close to the uni, perhaps you could try Gwynneville… It's affordable, but has had pretty consistent growth over the last 10 years (ref: Residex).
Cheers,
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