Please help!
Am looking at purchasing in Northern Beaches Sydney. Looking at entry level to buy a house in Newport area for low -mid $700K. I feel that this is an average price to pay for a house in Sydney?? Area is beautiful and upmarket. Would like some feedback…
Also looking at Freshwater/Harbord but can’t get a house there for that price. Can get units for $600K. So do I pay the extra $100-$150k for a house in Newport? Of course it is relative to my funds but I am thinking capital gains and rental return. Harbord/Freshwater/Queenscliff are closer to the city and have a the ferry service from Manly but VERY congested along Military Rd.
I have been advised that regardless of the higher prices, Sydney is still the best option/gain to invest. If all else fails, then will look at QLD or VIC.Would really appreciate opinions! Many thanks.
For my money I would go for a unit in Harbord /Freshwater as they are that much closer to the city (not that people from up there tend to work in the cbd).
Another areas to look around your price point would include frenchs forest or avalon.
You’d be hard pressed to find a house for less than $900k in any of these areas.
Hi, I live at Bilgola Plateau (just above Newport), and have been here for 31 years. In my view it is a great time to buy a house in the area particularly in that price range , as prices are depressed here at the present time. Neighbours who really want to sell are having a hard time and a number of them have moved out and rented their house out and will sell when the market improves.
However, it is quite different for apartments in Newport. I assisted my daughter in buying a one bed apartment in Newport 2 years ago and as there is now a great shortage of 1 bed apartments in Newport it has shot up in value. The "greening" of the Newport shopping centre etc by the Council just after she bought certainly helped.
She is on the lookout for a house in Newport in your price range. There are some great buys for her as she will get top price for her apartment and a depressed price for a house on buying it!!!! She will probably sell/buy early next year after getting married. I would not wait too long to act though if I was in your situation. Make sure you get a Geo tech report before buying by a good structural engineer as it is a slip area on the sloping blocks which are common in the area.
Hope this helps a bit.Thank you for your comments – they are a great help. I feel that Newport may be a better investment than Avalon as it is before the Bolgola “Bends” another 15 minutes of congested traffic! Would you agree? I also know that Avalon/Clareville is ridden with ticks.
Asuide from this, if houses are in the $900k price range, is there more gain to be made over the years? Will modest homes in these areas go over the million mark??Also saw a report on the news a few weeks ago that MilitaryRd going from the Spit to Sydney is the worst road in NSW for traffic congestion. This is the way “out” by road for residents living at Manly, Harbord, Freshwater etc. I thought at least from Narrabeen and heading north to Newport, you have 3 options of roads – Wakehurst Pkwy, Mona Vale Rd or Pittwater Rd. Though further north, the travel distance probably doesn’t take much longer and you have options if one road is blocked/congested. Any thoughts there?
Could anyone also please recommend reputable Tradesmen (and cheap!) for pest, builing and Geo Tech reports for the area of Newport NSW. I have also been referred to a Mortgage Broker but am open to any other referrals as I’m needing to organise a pre-approval asap. I am very much aware of choosing a mortgage broker that does not earn commission from one particular institution etc.Many thanks!
I live in Warriewood – hence the forum name DCwwood!
If you’re looking for an investment property (Units that is) on the Northern Beaches best bet is Dee Why – good bus transport to the CBD/North Sydney, plenty of cafes, restaurants on the beach front, 2 Coles, 1 Woolies and heaps of other shops. I’ve owned a few units over the years and recently sold a 2br unit (beach side of Pittwater rd – make sure you go beach side) and made a very healthy profit – there are plenty of 2 bdr units available and they rent very quickly if well presented. I don’t know the exact figures renters to owner occupiers but it would be close to 70% renters.
If you’re looking for houses, I’d say Mona Vale/Newport are better value compared to Freshwater – Freshie is over priced due to its proximity to Manly.
Good local contacts:
Mortgage Broker – Richard at Aussie Home Loans, Mona Vale is good – 02 9997 3377
Doyle and Spillane for leasing – they are the best on the beaches and hold regular seminars for investers – 02 9981 9401
Solicitor: David Marinic 02 9971 0144 (very reasonable and very helpful)
Dear DCWWOOD,
Thank you for the information – it is a great help! Would you have any good pest/building inspectors you could recommend?
I agree about Dee Why but I also have these thoughts afetr travelling on the L90 Bu everyday and witnessing the following:
It is Unit City – units EVERYWHERE -thus making competition higher for renting
I hope not to offend anyone but there are a lot of unsavoury characters in Dee Why. Often they are on the bus going to/getting off Dee Why, on drugs(one was high as a kite the other day on the bus and it was lunch time…) or unemployed or looking pretty “rough” Why is it just in Dee WHY yet heading north or south from there you don’t see it?Thank you again for the info and I hope to hear from you again.
P.S: DCWWOOD,
How do you like living in Warriewood? Are you in the new development? Many yers ago, it was beautiful pastures… How does Warriewood compare to Mona Vale, Newport and Avalon?
Well the Northern Beaches is know as God’s country and Warriewood (beach side of Pittwater road again) is just that – magical. Mona Vale/Newport/Avalon have village feels to them and are also great suburbs. My pick out of all of them is Mona Vale but only just.
The new estates at the back of Warriewood have grown steadily over the years and have high rental yields but the estates have a few issues – lack of parking and sewage.
Sorry didn’t read your DY comments, yeah as I said it has a high proportion of renters but its still a good suburb, I lived there for 5 yrs and loved it.
@ QM – there is a large number of housing comm tenants in DY & Cromer, hence the unsavory types.
Ok..I am really appreciating the solid advice- many thanks once again.
If there is any other feeback that could be of use then I’d be most grateful.Cheers,
QM
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