Where shall I buy investment property with 630k budget?

Hi everyone, I'm currently looking to buy IP with max of 630k budget. Which area should I pick in Sydney, regional NSW and Melbourne? I'm currently looking at Campbelltown area, Wyoming in Central Coast ( A bit of stretch) and outer suburbs in southeast Melbourne (e.g. Dandenong). Which area have more capital growth potential? Any other areas should I look for with my current budget?

Comments

  • +4

    i would look into these areas in NSW:
    Double Bay, Darling Point, Edgecliff, Rushcutters Bay, Point Piper, Bellevue Hill, Dover Heights, Rose Bay North, Vaucluse, Watsons Bay, Hunters Hill, Woolwich, Mosman, Spit Junction, or Northbridge.

    • +2

      Point Piper

      Howdy neighbour

    • +15

      Only if OP is wanting to buy a parking space perhaps

    • Rushcutters Bay - that's where the true-blue dinky-di countryboy Deputy Premier John Barilaro lives. A true outback lad

    • +3

      600k in any of those areas gets you a 1 room port-a-loo if your lucky - without land.

      • ….without land

        So you're talking about floating port-a-loos? :p

  • Including or excluding stamp duty and other costs?

    • excluding all the costs

  • +1

    How about you just bank transfer me, and I will buy it for you.

  • Christmas island

  • +2

    Nothing with a body corporate please. Please!

  • I would suggest Bellarine Peninsula area in regional Melbourne. Like St.Leonards. Good ROI. Place would be gold in a few years time.

  • +5

    Nobody knows. Your guess is as good as anyone else's here.

    Even the so called experts had no idea. I mean, highly paid property experts who do this for a living at Commonwealth Bank predicted that prices would drop 30% last year.

  • +1

    Queanbeyan - low vacancy rate with high demand plus good capital growth lately.

  • +1

    Why not consider St Mary's?

    It will be hot spot in 4 years with new metro station direct to Western Airport.

    Price are still reasonable so you can probably get a house with granny flat potential under $600k.

    • I was looking in St Mary's recently. Went to all the open homes that were listed for 550k. All went for 650+. One even went for 910k. The listings that show sold <600k have been private tender or sold before listing. Methinks dodgy deals with mates.

  • Liverpool, Doonside, Lakemba

  • Are you looking for positive or negative gearing (as well as the capital appreciation you hope for)?
    That could make a difference to the areas you should consider.

  • The Shoalhaven has suburbs (and listings) that are significantly undervalued for the lifestyle they offer compared to more well known towns in the Shoalhaven.

  • Geelong

  • Woop Woop.

  • DM me. I will let you know one secret.