How are inner west apartments faring?

Hi All,

interested to know how are inner west apartments faring - chippendale, erskineville, newtown etc. im thinking either 1 bedder or 2 bedder

i figure they kicked on a bit with the FHOB but anyone with their ear to the ground on how they are going now that has been scaled back?

Houses in pockets of sydney (inner west, eastern suburbs) are kicking goals at the moment, but 1 / 2 bed apartments???

Had at least 10% CG in the last 6 months of 2009.
Did the same again in the first 2 months of 2010.
Not a FHB in sight (as I predicted last year when people were 'waiting' for them to exit the market and prices to drop ).
This may have been a blip due to shortage of supply which has started to come a bit better in March.
However, for every one 2brm unit sold at auction there are 5-10 times that many serious registered bidders who miss out. I see them at the next aucton and the next.......

thanks propertunity,

hmmm i was thinking to maybe buy again in one of these areas as I have seen a few 1bedders go for under 400k. These were in the big complexes with very high strata (pool gym tennis court lifts many many units) however.

Do you think the growth in this market sector is sustainable???

cheers
tab

tab said:

thanks propertunity,
hmmm i was thinking to maybe buy again in one of these areas as I have seen a few 1bedders go for under 400k. These were in the big complexes with very high strata (pool gym tennis court lifts many many units) however.

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Personally, I do not advise my clients to buy in big complexes with lifts, pools & gyms and high strata fees. I like small 4, 6, or 9 packs in nice streets. Lots of land value per unit.

tab said:

Do you think the growth in this market sector is sustainable???

Click to expand...

I think that growth of 10% is pretty mild after being flat since 2003. We are just coming off the bottom of the cycle IMO. Plenty of growth left - perhaps 20% this year from the demand I am seeing. Just a guess though. Make you own assessment.

melbournes inner west is doing strongly also.

williamstown, newport, yarraville all setting records.

anyone following this market?

I am thinking of selling my full renovated 1 bedroom flat in Newport.

agent is talking around the $275k mark....

It is in newport, but not sure what its worth.

any ideas?