Campsie vs Redfern

[bobby85]

Hi all,

I've spent so much time reading on this forum without ever registering! Decided to join in on the fun.

I'm looking around on the market for an IP in the 500-700k range.

I've noticed there are quite a few unloved terraces in the high 600K in redfern/newtown but they come along once in a while. Otherwise there are heaps of 2 bdrm units 600-700k, however, I'm not too keen on paying 1-1.5k pq in strata levies!

My REA gave me a tip that Redfern would be a great place to invest in due to its ongoing development.
What do you guys think of Campsie? Houses seem to be around 600-800k and growing

Please discuss!

 

[Rolf Latham]

very very very different demographics and asset class

If u struggle hard u can get a terrace in Redfern and surrounds for 700k which will very likely outperform any of the newer high density units long term in terms of growth.

ta
rolf

 

[JWR]

Also look at all surrounding suburbs for the bargain.

There are plenty of suburbs in between Campsie and Redfern.

I think a good investment (and what I plan to do with my first PPOR in a few years) is to buy a delapidated terrace in and around Surry Hills/Paddington/Redfern/Newtown/Marrackville/Glebe etc... and slowly make it liveable over time. If for an IP you would need to do the reno straight away but 50-100k would give you 300k+ value add if you do it right so a good prospect if you can afford the holding costs.