Time to buy PPOR

Hi all!

I’m just looking for some advice in regards to my situation.

I’m 28 years old. I currently have an investment property. I purchased for $205k, I owe ~$180k, estimated value now is ~$230k. I am currently with Suncorp for the mortgage.

I’m renting a property for $430 p/week currently. For ~ $200 more per week I can buy, I’m keen to do it and can afford it. The area I’m in (Waterloo, NSW 2017) is a high growth suburb, with the rate cutting that’s going on I’m afraid the longer I wait to buy the more the prices will keep skyrocketing.

I was looking to purchase a new apartment for ~$500k. Because it’s new it would get the government grant of $15k. I also have shares of around $14k that could be sold if need be, although would be a last resort.

The biggest issue I have is that I owe the ATO around $15k and am repaying this for next 15 months, maybe closer to 10 months depending on tax return this year.

My questions are;
– With the ATO debt, will this hinder ability to loan? I suppose I have to disclose it if apply for loan?
– How much cash deposit would I need a PPOR?
– Is there any other way to access the equity in the loan without a line of credit loan (without selling) because of the high interest they usually have?
– Should I be worried about the Sydney bubble and being locked out of the market?

Any advice is greatly appreciated!