Hi, Pete, Welcome aboard!
Don’t be put off Sydney. It’s true that sales prices are falling. That means that you’ll miss out on capital growth over the next couple of years, but this is just a correction and it won’t last forever. It sounds like that beautiful home you sold made you a lot of money. Like any market, property goes up and down, but unlike shares, you won’t loose your shirt. I was shocked to see the statistics for Northern Beaches in HtAG, but sure enough, when I went down to heatmap, I saw that there is stil price growth being registered in some areas, which is more like what I see every day. You’ve got to pick the right property. There’s no point in looking at Darwin or Townsville for rental investment because its going to be a real pain trying to organise maintenance, rental agents, and if your renters don’t pay, you’re in for a long-distance legal nightmare.
Stick to the places you know and if you feel like venturing further afield, just go within driving distance. Come up to the Northern Beaches! I can find you a beaut buy-to-let.