Anyone own units in Summer Hill

[free_dom]

Hi all,

I have been watching the explosions of units coming on around the Lewisham West light rail station. There is the McGill St development with 68 units, the Flour Mill complex which is believed to have 320 units, a Meriton complex with similar amount and a smaller five story complex with with 28 units. All this in a very small portion of Summer Hill. I also believe there would be some type of Coles/Woolworths going to be built to service the area.

I own a unit on the boarder of Summer Hill/Ashfield and am a bit unsure as to what the increase in supply will do to the area. Any one with IP's in the area that want to share their views on the area.

 

[Scott No Mates]

Free_dom, if you're borderline around Liverpool Rd, you are probably too far from the units to be affected (positively). The new units are located around the old goods line which has been converted to light rail and is also a short walk to Lewisham station.

With the number of new units there will be an increase in supply and probably a stretch on vacancies for older units and a little pain as there will be more to choose from for renters.

 

[Rolf Latham]

Many of Propertunity's clients

it was ( and likely still is) his local turf

ta
rolf

 

[Propertunity]

I own a unit on the boarder of Summer Hill/Ashfield and am a bit unsure as to what the increase in supply will do to the area.

You are starting to sound like my selling agent acquaintenance, Virginia Nicoll from a Summer Hill real estate agency. Everything she lists in Ashfield is advertised as being "on the Summer Hill border".

Even with the increased supply coming on-line soon, I think the present demand levels will still exceed supply. Most auctions have multiples of registered bidders all wanting a property, but there's only ever one winner.

I haven't bought in Summer Hill for a while as the prices got "up there" for my investor clients and we instead deferred to Marrickville & Dulwich Hill for most purchases of late....and even the Inner East.

 

[free_dom]

I live in Victoria St and regularly go down to summer hill for coffee. It will be a nightmare for parking down there when the units come on line. Really good times if you own a cafe there though.