2br units in Meadowbank

Been going round and round in circles and looks like a 2 br unit (carspace incl and internal laundry) in Meadowbank for an IP may be an option. Is anyone familiar with the area? what's the vacancy rate like? yield? capital growth? (Top Ryde is close, Macquarie etc, train station, Victoria Rd..

Thoughts, opinions would be great!
 
what's the vacancy rate like?
2.1% so under 3% = good

the usual 4.9 - 5%

capital growth?
median price for units is $442K which is $10K more than the peak back in 2002 - so full steam ahead (or if you are a bear - you are paying the highest price ever if you buy now):rolleyes:

(Top Ryde is close, Macquarie etc, train station, Victoria Rd..
Add to that list Meadowbank TAFE. Ryde road is a PITA in the morning and afternoon peaks - but that is only if you are driving somewhere.
 
I have a unit in Meadowbank.

Demand is high. When my lease came up late last year I had dozens of applications. 2 offered more than asking rent.

A friend just advertised his also. Still high demand. This is the older units not the new development.

I love the location. Bus,train or rivercat to the city. Nice park across the road (I'm overlooking it and the water). Nice. They are also beautifying the area because of the new development.

Yields aren't startling but rents are going up nicely.
 
Completely agree that meadowbank is lovely area to live in. I have also had a look for some units there but have found them mostly very small and old (except for teh new developments). Most i have seen are under 60 m sq.
 
median price for units is $442K which is $10K more than the peak back in 2002 - so full steam ahead (or if you are a bear - you are paying the highest price ever if you buy now):rolleyes:

Sorry...what do you mean by "bear?"........
 
Been a few older renovated 2 bed units on the market lately under $400000
with low strata in meadowbank.
Marsfield near uni looks like its taking a drop, another 2 bedder in Herring rd
just listed at $390000, Same block 4 months ago 2 bedder sold for $430000
 
crystal ball would be good right about now....
Looking at holding it for a very long time...may never sell..so given the distance from CBD, potential waterviews and infrastructure seems like it may be a go-er..
 
Just wondering, who are the usual renters in Meadowbank and Marsfield? I assume Macquarie Uni students would make a large proportion of renters in Marsfield, but not quite sure of Meadowbank.

Thanks.
 
Just wondering, who are the usual renters in Meadowbank and Marsfield? I assume Macquarie Uni students would make a large proportion of renters in Marsfield, but not quite sure of Meadowbank.

I used to rent in Meadowbank back in early 2007 (1 bedder, by myself). I was working in North Ryde at the time.
 
meadowbank going through major gentrification.

over development in the 70-80's and a high crime rate and industrial area has given it a shakey start but everything is changing :) and oh so quickly :d
 
Just wondering, who are the usual renters in Meadowbank .....

The households in Meadowbank are primarily sole parent - 42%, followed by childless couples - 22%, then couples with children - 15% and then lone households - 13%, the remainder being group households.

63% are renters in Meadowbank. Only 14% are fully owned and 20+ odd% are buying.
 
Stuemunro
..what makes u come to that conclusion?

which conclusion is that? major gentrification?

excellent development is replacing where the industrial area used to meet the shore at the ferry wharf.

Local council has redeveloped alll the walk ways along the ferry, to the park.

The shops in the new unit development include franklins, aldi, restaurants, cafes, clothes shops.

The train station was redone about 8-10 years ago.

More industrial area is being sold as residential development.

Renovations have been very common in the old side of Meadowbank, people are making the most of the increased popularity.

Surrounding suburbs are getting alot of investment, including West Ryde Village and especially Top Ryde Shopping Centre.

Across the way, there is a new pier being built at Rhodes. In addition to the already existing development of Rhodes Shopping Centre, and various residential blocks looking over Homebush Bay.

On the other side of meadowbank park there are new units being built on the shore in the suburb of Ermington / Melrose Park.



As for the history of over development and high crime rate. I lived in meadowbank for 11 years through the 80's and early 90's. Trust me, I know.
 
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Opinion on meadowbank

Hi

I am going to buy in one of the Ryde areas...ie. in preference West Ryde, Eastwood, Meadowbank, Ryde....however supply is so low at the moment. Most that are within my budget max $390K (2bds) are popping up at West Ryde or Meadowbank....

Would you prefer one over the other?
Is there any over supply issue in Meadowbank with all the new developments?
Better rental return in West Ryde than Meadowbank...but what about CG?? Is it much the muchness???

Please help!! I want to hurry up and buy....the waiting is driving me insane!!!
 
Hi

I am going to buy in one of the Ryde areas...ie. in preference West Ryde, Eastwood, Meadowbank, Ryde....however supply is so low at the moment. Most that are within my budget max $390K (2bds) are popping up at West Ryde or Meadowbank....

Would you prefer one over the other?
Is there any over supply issue in Meadowbank with all the new developments?
Better rental return in West Ryde than Meadowbank...but what about CG?? Is it much the muchness???

Please help!! I want to hurry up and buy....the waiting is driving me insane!!!

Why wait? Both suburbs are fine- as others have said, Meadowbank has been cleaned up and there's very few streets with industrial areas now. I like the area and still consider it and West Ryde good value for money for the unit market. Sure, there are HC stock streets but most of the units are grouped near the transport hubs. Great area for proximity to cbd and some of Sydney's best shopping too.
 
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