Sydney’s once-cheap suburbs now worth a ton
Hindsight is a wonderful thing.
If you’d invested in these (unexpected) suburbs five years ago you could have made hundreds of thousands of dollars.
We all know by now that buying property in Sydney five years ago would have paid massive dividends. But our harbour city has been expensive for investors for some time. Comparison website Finder.com.au have looked at suburbs that had a median house price of $500,000 or less back in 2012, making them more affordable suburbs for investors.
Sefton in the Canterbury-Bankstown area comes out on top, not just for Sydney but for the whole of Australia. A $455,000 median-priced house in 2012 would be worth $920,000 today. That’s an incredible $465,000 in capital gains. Assuming a 20% deposit of $91,000, you’d be looking at $374,000 of profit, not counting anything you paid in holding costs.
If reading this makes you feel like you’ve missed the property investment boat don’t despair. There are still plenty of good areas to invest in, in both capital cities and regional centres. Attend a First Home Buyers Course and learn what brings value to units and how to start your property portfolio.
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