Should i keep my house in the UK or invest on an property in Sydney ?
Feb 21st 2008, 9:53 pm
#1
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Should i keep my house in the UK or invest on an property in Sydney ?
Stuck between a bit of a rock and a hard place atm.
One part of me wants to keep a foot on the UK property ladder, but i know that after all the management costs are taken into account its going to cost me about £250 per month.
One part of me wants to invest the equity i have built up in the UK market into an Australian property.
So to those that have experience in the OZ market, what are the trends in terms of market movement in the Sydney area ? and does anyone dare to stare into the crystal ball and say where they think it will go in the future ?
I know its a big ask, but i feel that the collective views of people that have actually taken the plunge could help us make an informed decision
Thanks in advance
Stu
One part of me wants to keep a foot on the UK property ladder, but i know that after all the management costs are taken into account its going to cost me about £250 per month.
One part of me wants to invest the equity i have built up in the UK market into an Australian property.
So to those that have experience in the OZ market, what are the trends in terms of market movement in the Sydney area ? and does anyone dare to stare into the crystal ball and say where they think it will go in the future ?
I know its a big ask, but i feel that the collective views of people that have actually taken the plunge could help us make an informed decision
Thanks in advance
Stu
Feb 21st 2008, 10:18 pm
#2
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Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: Should i keep my house in the UK or invest on an property in Sydney ?
Sell your UK property ASAP. It's only going to lose value in the next few years.
Feb 21st 2008, 10:29 pm
#3
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Re: Should i keep my house in the UK or invest on an property in Sydney ?
Absolutely... But he wants to buy in Sydney and I'm not that sure he won't find the same... A friend is a property valuer here on the Northern Beaches and says quite firmly that things are going down...
Feb 21st 2008, 10:32 pm
#4
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Re: Should i keep my house in the UK or invest on an property in Sydney ?
Sorry i forgot to mention, that if we do buy in Sydney, it will be south of the River, probably either in the Shire, or maybe in the Wollongong area
And thanks for the comments so far guys, please keep them coming
Stu
And thanks for the comments so far guys, please keep them coming
Stu
Feb 21st 2008, 10:34 pm
#5
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Location: Ilukapool. WA
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Re: Should i keep my house in the UK or invest on an property in Sydney ?
Yeah, I know what you are saying. I guess if Stu was going to live in the property then it's not such a big deal, buy in NSW would still be my advice. If it was purely for investment, then I'd be looking at anything but property at the moment.
Feb 21st 2008, 10:38 pm
#6
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Re: Should i keep my house in the UK or invest on an property in Sydney ?
Why Sydney and not somewhere else in Oz.....or NZ for that matter (no stamp duty there)
Feb 21st 2008, 10:54 pm
#7
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Re: Should i keep my house in the UK or invest on an property in Sydney ?
Sydney seems like a better long term option IMO (but don't blame me if it heads south too).
The London/UK market seems to be more sensitive to the state of the economy, whereas Sydney is more robust due to the relative shortage of housing and the continuing flow of immigrants. I would say Sydney has more suburbs than London where the worst that can happen is that prices stay the same. So choose well in Sydney and you should be okay.
Just my tuppence worth.
Big.
The London/UK market seems to be more sensitive to the state of the economy, whereas Sydney is more robust due to the relative shortage of housing and the continuing flow of immigrants. I would say Sydney has more suburbs than London where the worst that can happen is that prices stay the same. So choose well in Sydney and you should be okay.
Just my tuppence worth.
Big.
Feb 22nd 2008, 6:32 am
#8
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