Oliver Myers Real Estate
Call Us: 02 4322 5600
Address: Suite 1
86 Mann Street Gosford, NSW 2250
Housing Affordability

Housing Affordability

  • 07 Nov 2016

Housing Affordability

In the current market, even with the lowest interest rates many of us have ever seen, affordability of homes for first home buyers is still exceedingly low.

Just recently Domain ran an article that stated that  "the Sydney market is basically closed to first-home buyers". With the prices in the Sydney market seeming to increase month on month, first home buyers just cannot break in, especially as the average house price now costs 12 times the average salary (20 years ago average house prices were only four times the average salary).  Many real estate experts, bloggers and news agencies are lamenting that with fewer properties available for sale and a growing list of desperate buyers, pressure on the market has seen house prices continue to rise.

So this begs the question: Why buy in Sydney?
Why don’t purchasers eager to get into the property market continue to rent where they like living, and buy an investment property in growth areas and build equity that way?
Well, they can.

According to Smart Property Investor there are Newcastle and Hunter suburbs in their Top 10 Fastest Growing  and Highest Growth suburbs.  Add to this statistics that Newcastle and the Central Coast have a combined average of >10% Capital growth in 2016 and that property specialists themselves are buying in the Hunter then you have the perfect location to buy.

When you add to it all the development, growth and industry expansion in Newcastle and the Hunter Valley, the answer to housing affordability is here.

If you are ready to invest, you'd best be quick. Stock is rapidly being sold (9 lots in Thornton were sold on the weekend, and now there is only one lot left in Fern Bay) so contact us to reserve a property for you today.

If you would like to invest but aren't quite ready, we can help refer you to professionals who can help you start your property investment journey.


Tony took his time to meet my requirements

When looking for a property for my parents, I was introduced to Tony. After I described my requirements, he took the time to show me areas that fulfilled my requirements, and then specific locations, floor plans and similar new homes that he believed, based on my criteria, would be suitable. Thank you Tony.

- Mac

Nothing but wonderful!

My venture into my first home on the coast was made easy by the support from Tony and his team. They were nothing but wonderful!

- Katherine
Hamlyn Terrace

Willing to go the extra mile

Tony and his team were willing to go the extra mile to show us properties in new and growing areas that would be suitable to include in our investment portfolio. Following our earlier success in securing a new build on land in the Newcastle region, we were keen to investigate other locations which would provide capital growth and good rental return with a low vacancy factor. His team thoroughly researched all those requirements and provided great options.

- Roger Smith
Tea Gardens

Making Life Easy for us Landlords!

Tony and his team assisted us in buying a new off-the-plan home for investment purposes. We were given plenty of information on the location and trends in the area, and the types of properties that were popular with tenants. Tony has many trusted contacts in real estate and associated industries, and referred us to a quantity surveyor who has helped us claim a lot more depreciation than we thought we could, and to a great property manager that is making our life easy for us as landlords. It’s been a very successful relationship!

- P & L Sherrell
Mt Annan