The Australian Property Investor Magazine (API) has just released it's list of the top 100 suburbs around Australia that represent good value for money as determined by their panel of experts.
I have listed below the Sydney suburbs that were were identified. Even though the API has some great article and information, I don't always agree with their pannel of experts.
At the end of the day, a good property in a good location will always do well even if you purchased it at the top of the market because in 5 or 10 years time the price you paid will seem a bargain. Just remember that the best gains are made in the buying rather than the selling so if you buy right and can afford to hold the property long term you will always do well. Unless you are a property speculator or a property developer you should always focus on the long term benefits and not short term speculation. A wonderful example are those clients that bought in Ultimo in the late 1990's when mortgage insurers would not insure these properties as they rated them as highly risky which was in contradiction to my recommendations. Clients bought based on sound and proven fundamantals and as a result they bought properties that became positive cash flow investments within 5 years and have more than doubled in value within 7 years. The same could be said about Cherrybrook when clients bought 4 bedroom houses within the Tech. School catchment for around $275,000 10 years ago which are now sell for $700,000 plus and rent for $550 plus per week. At the time experts where saying that the area was too isolated and had the wrong demographic to provide for strong capital and rent al growth. Yet when the world financial crises occurred one of the worst hit areas was the lower north shore with Mosman in particular and Ultimo and Cherrybrokk faired extremely well.
With that said, always research the area before buying and make sure that the property is assessed in accordance with the area you are buying in and the type of property within that area.
Here are the suburbs identified by the API panel of experts:
n Dulwich Hill
n Elizabeth Bay
n Melrose Park