Baulkham hills or Erskineville

Hi all,

Getting prepared to purchase my next IP. Budget is around 450-470K. I have two suburbs in mind, Baulkham hills or Erskineville. They very different to each other but I think both can provide strong CG.

I would either buy 2bdrm apartment in Erskineville or 3 bdrm house in balkum hills within given budget. I am just curious to know what others thinks about the idea?

Thanks
 
I have two suburbs in mind, Baulkham hills or Erskineville. They very different to each other but I think both can provide strong CG.
I would either buy 2bdrm apartment in Erskineville or 3 bdrm house in balkum hills within given budget. I am just curious to know what others thinks about the idea?

Historically, houses in Baulkham Hills have had superior CG @ 6.68% (long term trend) than units in Erskineville @ 5.04%.

....although houses in Erskineville have done better than both @ 9.22% - but your budget does not extend to that - which is why you are considering a unit there I guess.
 
personally - i'd go baulko.
However i might be biased, i've lived in the hills all my life and just bought a 3bed townhouse out there (on the border with castle hill).

Be wary though, you will be under some stiff competition in baulko looking for a house with your budget - that's if you can even find a listing that isnt sold or under contract already
 
Personally I would go house in baulkham hills.

P.s while historical performance helps understanding the past there are many factors that will influence the next 10 years. Personally I think a house in b/hills has more factors going for it.
 
For me, the issue with Units in the inner city locations like Erko and Alexandria etc is that are now found in huge megaplexes all without the old world charm you would hope for in suburbs like that.
 
I hope you enjoy renovating because you're going to need to if you try to buy a well located house in BH with that budget :)

Anything you now see on the net in housing in BH under $500K is one of the following:

Very small and in original condition usually red brick 3/1/1
On a main rd like Windsor, Seven Hills or Old Northern Rds
Subdivided and battleaxe on a tiny block
Eensy weensy like the houses at Astoria Park (near Old Windsor Rd)
Lowside older area with drainage issues
Original weatherboard in older area like Cross St and Chelsea (but these look great when renewed!)
Ugly eg: flat roof, high tension power lines out front, no street appeal etc
It's a townhouse :)

Naturally I know BH very well but I do believe you may have well missed the boat as you're now competing with all those FHB's as well. Also consider Winston Hills, a little cheaper but still a great suburb and even closer to Parra and CBD.
 
I hope you enjoy renovating because you're going to need to if you try to buy a well located house in BH with that budget :)

I.e Landscape st.

If anyone wants to check it out it needs alot of work but probably the cheapiest & smallest block in BH. You can pick it up for $360 I think.
 
Landscape St is in the older part of BH, with some very old small homes and the area zoned for townhouses as well. This house obviously has a troubled vendor as they paid $410K last yr and are now having to sell, as it's being advertised for less than this.

Keep in mind that it's only on a tiny block of less than 400sqm with effectively no backyard and backs onto townhouses; not the most desirable location. It also suffers from Windsor Rd noise, being two houses away. However, given the fact that most 2bed units in the area sell for mid to high $300K's then it may be a worthwhile IP or PPOR for a starter.
 
Yes someone stupidly paid 400k for it in 2004 and then resold it in 2008 for 410k.

Clearly not worth it, but for 360k mark I think it's worth a shot for someone wanting entry level into Baulkham Hills market.

Personally I'd prefer to move over to Kings Park or Seven Hills / Lalor park and get a proper house.
 
Yes someone stupidly paid 400k for it in 2004 and then resold it in 2008 for 410k.

Clearly not worth it, but for 360k mark I think it's worth a shot for someone wanting entry level into Baulkham Hills market.

Personally I'd prefer to move over to Kings Park or Seven Hills / Lalor park and get a proper house.

Don't know what database you used, Stu, but, according to RP, 2a last sold in 02 for $380K then 08 for $410K. No. 2 (which is a far more attractive brick newer dwelling) sold in 04 for $400K and then resold again in 07 for $310K.
 
Don't know what database you used, Stu, but, according to RP, 2a last sold in 02 for $380K then 08 for $410K. No. 2 (which is a far more attractive brick newer dwelling) sold in 04 for $400K and then resold again in 07 for $310K.

I stand corrected. Admittedly I only skimmed over the sales data for the street. I do agree with you that the house in front is much more attractive and suprised it only achieved 310 in 07 and 2a sold for so much more in 08.
 
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