Would purchasing a house in Sydney?

Question

Would purchasing a house in Sydney around 35 minutess by train to the station be a good investment or will house prices start to fall?

Answer 1

Im guessing its good because my dad was talking about moving there and we live in California, so I doubt its too bad.

Answer 2

Don't buy in Sydney. Actually, don't buy a house just yet. There is a recession coming and the prices are sure to go down really soon. I wouldn't advise you to buy a house and simply wait for the prices to go down.

Answer 3

were ever you live in sydney the price for housing will always rise. when my parents bought our house in Manly it was worht 600,000 now it is valued at over 2.4 million.

I would say a great idea

Answer 4

Housing prices in Sydney will continue to fall in the next 2 years but if you can afford to purchase now do as they are alot of bargains out there.

Answer 5

Hi,

There are quite a few doom & gloom stories out there.

However, a well bought property within 35 mins from Sydney - will always grow in value in the long term.

Now the questions you need to answer are -

1. What is your time frame to hold the property - as you may know property is a long term investment - and you will need to keep it for atleast 7 years if not more.

2. What do you want to buy - a house or unit? In my opinion, House is always worth more than a unit - from a profit point of view.

3. How good is your negotiation skills - Don't be afraid to go hard with your negotiation - You may want to put an offer on quite a few properties before you find the right deal! - If you want a report - that I created - called :

"5 things you need to know before you put an offer on a property", email me and I will forward a copy to you for free.

4. Are you willing to do a little bit of handy-man work - as in buy a house that is not pretty to look at, but with a little bit of TLC, will look great - in this case - you can definitely get a bargain - PS: Make sure that the structure of the house, including wiring, plumbing is all in good order - because these are very expensive to repair.

Hope these questions have triggered some ideas in your mind - and good luck hunting..

Hope this helps.

Ananda

Mortgage Planner,

Dream Catcher Finance

http://wealthcreationfinance.com

1300 424 453

Answer 6

We went through a stage where prices went up too much, too  quick and now with the interest going up people are finding it hard to maintain the purchase. I have seen interest go up and interest go down but prices stay the same or rise. I think if you purchase now, rent it out as rental has gone very high but  you will be waiting a long time for the value of your property to increase for re sale purpose