UT,I under your points,but maybe Warnie has answered a question,without realising it(again).I know people who have bought those properties a while ago,and have made 100% on the capital growth.That was ok because they payed between 50,000 and 65,000,but your not going to get that growth ever again on those places.When my friends rented it out,it payed the mortgage and left surplus funds for all the extras,council,water etc.The trouble is if your paying 150,000 for them,and hoping to get the rent to cover it,if doesnt work out.You have also have to understand,that the people renting those places,cant afford constant rent increases.$10 to $20 dollars a week is a lot to those people.My niece is a social worker out there(she's got balls),so I have an insight into the area.I also worked for 3 years putting split systems in around that area,and UT it is as bad as everybody makes it out to be.They know how to play the system,and the tenancies tribunal,dont kid yourself.
