Investors ask: Bargains in Sydney
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sydney

Investors ask: Bargains in Sydney

By Nick Viner

Q. Is it still possible to snap up a bargain in inner Sydney or has that ship well and truly sailed?

A. It is absolutely still possible – that’s good news. But the reality is that the goal posts definitely have shifted over the past 12 months. We’ve seen approximately 16 per cent capital growth over the past 12 months across Sydney, so it is harder and harder to snap up a bargain or even to find those bargains. But they do exist.

I’ll give you a recent example of one of my investor clients. We bought a three-bedroom unit in Petersham in Sydney’s inner west within a five minute walk from the train station.

Now conservatively I thought that property would be worth at least $650,000, but we actually secured this property for just $550,000. So that’s a good $100,000 below what I think the market value should have been and that was within the last six months.

You just need to know where to look and possibly adjust your perceptions of what constitutes a ‘bargain’.

Nick Viner, buyer's agent, Buyers Domain

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
SOLDIERS POINT 48.92%
2.
BLUE BAY 43.96%
3.
BERKELEY VALE 42.74%
4.
LEMON TREE PASSAGE 42.55%
5.
NORTH NARRABEEN 40.19%
Investors ask: Bargains in Sydney
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