Despite the fact that Sydney has the highest median price of Australia’s capital cities, did you know that it also has some of the cheapest houses in the country?
Australian Property Monitors recently reported that while 122 Sydney suburbs have a median house price of more than $1 million, the harbour city also has the largest proportion of cheaper homes of any Australian capital.
Property investing is a great way to make money, but it requires
major capital outlay. While lenders often view low-income investors as higher
risk borrowers, this does not mean you are without financing options.
It seems that
the majority of property investors are more comfortable investing in
residential properties compared to commercial properties. Most investors feel
that they are more knowledgeable in the residential sector as more often than
not investors have experienced residential purchases first hand. The majority
of people would purchase a home to live in before purchasing an investment
property. We also like to think that we have some knowledge about the region in
which we live and the values of properties that surround us. But if I asked you
about the value of the local fish and chip shop where would you start?
times we live in. Economists and commentators say that Australia is in the
midst of an unprecedented resources boom that, if properly managed, will propel
us into prosperity for at least the next generation.