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¿ STRATHFIELD, NSW
$550,000 - $600,000
Strathfield is located around 12
kilometres directly west of the
Sydney CBD. It has plenty of facilities
and transport options, including a
train line directly into the city. It’s
recognised as one of Sydney’s most
culturally diverse suburbs and property types vary from historic
homes to contemporary constructions. The listing is for a single
level, two-bedroom unit that’s around 30 years old. It’s had
some renovation and includes car accommodation. The asking
price is between $550,000 and $600,000 and there was no rental
Author and property
¿ WHAT WOULD BE A REASONABLE WEEKLY RENT FOR
JSS: Based on Residex, the rental range is between $410 per
week to $590 per week with the estimated expected rental at
Kieran Clair @kieranclair
The game has changed over the past decade for real
estate hunters. Gone are the days of trawling through the
newspaper’s property listings each weekend to organise a
run of open houses, just to determine which is a goer and which
should just go away. Nowadays you can access holdings from
right across the nation by simply logging onto the internet with
a hot coffee and a can-do attitude.
Defining your parameters and bringing up the listings are
just the first step of course. Every possible purchase can look
promising. From the great little original condition cottage to
the spanking new high-rise unit, they’ve all got a list of benefits
their agents are more than happy to promote. The key is trying
to wade through the market and analyse each prospect with a
balanced approach to the pros and cons.
Buyers’ agents and other property professionals do this daily
and can quickly sort the wheat from the chaff, so API has set
them a challenge. We ask experts from around Australia to
determine whether three different properties offer hot prospects
Three online listings have been selected. Each listing
has been provided to two experts who must use the online
information and their earned experience to determine whether
they’d take enquiries further with the agent. To maintain
anonymity, specific property details haven’t been published,
apart from a description of the property type and the suburb.
The experts were provided with more comprehensive
information, but asked not to reveal identifying factors in their
responses. The results show why comprehensive analysis of
this initial information can save time, money and heartache
when it comes to your portfolio.
$500 per week. This equates to about 4.5 per cent gross yield on
the asking price against an average yield for the suburb of five
N V: Assuming the purchase price is likely to be around
$600,000, the weekly rent would be around $550. This is based
on a gross rental yield of just below 4.8 per cent, which is
currently what you’d expect for a unit in Strathfield.
¿ WHAT ARE ITS PROS AS AN INVESTMENT PROPERTY?
JSS: It’s in a sound location for an investment property in that
it’s walking distance to Strathfield station, bus routes and the
Burwood shops. The kitchen and bathroom look to have been
recently updated and are very serviceable. This may reduce the
need for expensive maintenance in the short to medium-term
and help attract a better class of tenant. The Australian Catholic
University is nearby, creating demand for affordable rental
properties and it shouldn’t be difficult to attract tenants. Twenty-
three percent of people living in the area are in the 20 to 29-year
age group, and 36 per cent of people in Strathfield are renters.
It’s also in an area where 38 per cent of the dwellings are units,
making it a popular, but not the predominant type of dwelling
(which is houses) for the suburb.
N V: As I haven’t inspected this unit internally, I can’t comment
in respect of the internal features. However, as I specialise in the
inner west, I know the address and this unit block well. It’s next
to a roundabout on the intersection of two fairly busy streets.
Six property experts give us the inside running
on analysing a property listing for investment potential.
* Strathfield, NSW
* Ballarat, Vic
* Cottesloe, WA
OPEN FOR INSPECTION //
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