Dulwich Hill / Summer Hill / Ashfield

C

ChasingSugar

Hi there,

Just looking for some local knowledge please on these three areas? I am currenlty looking to spend up to 2 x 450-500K on a two separate purchases in Inner Western Sydney. Needs to be two separate purchases based on how I will be procuring them (1 direct and 1 via SMSF).

My strategy is around Capital Growth, and buying in NSW is a diversification for me from VIC. I need at least a 4.5% yield.

From what i understand:

- I think I am looking at 2 Bedroom, 1 Bath, 1 Park type properties based on my budget.
- The main roads should be avoided as they can be very busy constantly
- There is a light rail line coming on soon that should be of help to the area in terms of CG.

Anyone able to offer please areas to target or preferably avoid?

Thanks in advance for any assistance!
 
ChasingSugar said:
Hi there,

My strategy is around Capital Growth, and buying in NSW is a diversification for me from VIC. I need at least a 4.5% yield.
Click to expand...

Hi! These areas are all great for capital growth, I must admit it may be harder to get a 4.5% yield, either way rental is always in HIGH demand in these areas. I must say have a look at Camperdown aswell. It is close to and in the middle of everything. This may be a biased opinion since I work in Camperdown but it certainly is a great location!

It is close to Parramatta Road - easy access to the City but also the West. But as stated before, all are great for capital growth. I will pm you a link where you can get abit more info on some of the inner west suburbs.

Goodluck with all
 
Hi ChasingSugar, your thread has made me question our existing intention to try to purchase a more expensive property in Newtown area (I posted about this here http://somersoft.com/forums/showthread.php?t=85425) - the light rail extension is certainly an extra drawcard for looking in Dulwich Hill etc. At the moment though we are feeling like there are too many options to consider!! :confused:

Hi Eshna, I would really appreciate it if you could also PM me that link? Sounds like it might help us a lot! :)
I think Camperdown is lovely but we are really wanting to buy something that is an easy walk to a station.
 
I'm looking forward to that light rail extension. It'll be a nice change from travelling to the city on the other rail system. I hope the state government don't dump it.
 
Thanks all for the insight - also to those who took the time to PM me. You just can't beat people who live on the ground in a particular area!

Do you think the light rail is at risk? I thought the stations were being built as we speak, and an order for the trams/trains already placed?

Depreciator - you mentioned looking forward to the change in rail service. Can you please elaborate? What is your current trip like and what will the new service offer as an advantage?

Thanks!
 
I'm in Marrickville - the suburb next to Dulwich Hill. We're spoilt for choice when it comes to transport. (I feel a bit sorry for my mate who lives in the Hills district, but he did choose to move there.)
I can pick from Marrickville and Tempe stations - two different train lines.
Dulwich Hill is the next station past Marrickville on that line.
The light rail line will terminate at Dulwich Hill. It will be a more scenic trip through the old cuttings and then past Annandale and Glebe and then the southern end of the CBD. When it happens, I'll use it to go to the fish markets - it will be quicker than driving. And it will be the best way to get to Darling Harbour and Chinatown on the weekend. I'm looking forward to it.
 
Agree with Depreciator's comments, it will be more of a scenic route but certainly not for peak business travellers as it will take longer, be more expensive and (dare I say it :)) less reliable/often that City Rail!

It would be good for people going to Glebe or darling harbour......

Suburbs mentioned have already seen significat growth over the previous 12-18 months, not sure if it will continue to rise but media seems to think so!
 
Hey Depreciator,

Agree. I live in Summer Hill and can also chose from Ashfield or Summer Hill to catch a train from, not to mention the number of bus services available around these areas also. And light rail, bring it on! Been long awaited for.

Spoilt for choice indeed.

John.
 
I hadn't been on a bus since I was at school, but last month I was catching a bus in the mornings. My eldest daughter started high school and I was getting her familiar with the bus route. It was great. I loved it. Marrickville Road, then Enmore and City Roads and then Broadway. I loved seeing stuff I never see when i drive that route. We left early - 7.30 - so there wasn't much traffic and the trip was pretty quick. And there were plenty of seats.
My daughter, of course, ignored me and when it was necessary to speak she did so in a whisper. The one time she she spoke louder than her bus whisper was on the morning we caught a later bus and there were no seats. A girl of about 20 offered me her seat. My daughter, Mimi, thought that was hilarious. She looked up at me and said, 'She thinks you're really old, dad.' I looked down at her and said, 'She'd now be thinking you're a smartarse.'
I got the bigger laugh from people nearby.
 
I've been in Marrickville for close to a decade now.

I am no expert, but I imagine it will perform very well and should be considered. It's transforming rapidly. Gentrification well underway. A newly opened wine bar is doing a roaring trade, tattoo parlour is open, so many great food options. It's become a rather desirable, first choice suburb and is morphing towards something like a Surry Hills/Newtown. This effect is snowballing.

Not to mention:

- FOUR train lines. (Marrickville, Tempe, Dulwich Hill, Sydenham)
- Loads of buses
- Planned light rail to stop right by the south west end of Marrickville
- Immense new library to be complete around 2015 (I believe)
- $165m Marrickville Metro shopping centre upgrade on the way
- Council focused on growing the community; last year removed annual fee for cafés to have outdoor seating
- Heaps of parks, the cooks river, cycling track


And one last mention of the waves of change, Vic On The Park hotel (usual patronage: 5 old men drinking VB) just relaunched extremely successfully and is shooting to become an inner-west icon. It's newly renovated, has a basketball half court out back, a skateboarding setup is under construction, dogs are welcome, food is good, drinks are reasonable, there's an outdoor projector and it's has become a magnet for a whole breed of people (in great numbers) you didn't see in Marrickville 5 years ago.

Can't wait for the light rail. It'll be a nice trip.

2 bedders seem to be getting snapped up VERY quickly in the last couple of weeks.. $400-$460k will definitely get you one with a car space and probably 5% yield.
 
I used to work at Franklins in Illawarra rd when us Westies used to call it Mareeeekaville :)

when you could go to you Greek Mates place and chew through Great Saganaki and Lamb.

Quite interesting how much and how many times the demographics of Sydney burbs have changed in just 30 to 40 years

ta
rolf
 
I understand Marrickville is a big suburb, for the locals living out there, is there any area of it you would avoid purchasing an IP unit in Marrickville.

What's the diversity like in terms of the best streets/areas of the suburbs and the worst streets? Thanks :)
 
Yep, it's a huge suburb.
There are a couple of fancy new blocks going up, but they will be expensive.
Look for small, older blocks in areas where there are mainly houses.
There is a bit of a unit ghetto in the area bordered by Illawarra, Harnett, Livingston and Hill.
There would be a lot of older unit stock within a ten minute walk of Marrickville station. Draw a circle on a map and go for a wander or a bike ride one weekend.
 
Marrickville South would be the nicer side of Marrickville, like depreciator mentioned there are a few unit ghettos on the other sides of Marrickville which would require a little more research.

Ah, those were the days rolf.. At least there are still some greek standing eateries after so many years such as the good ole Victoria Yeeros, The Hellenic Bakery and The Yeeros Shop..:)
 
Richard Feynman said:
I've been in Marrickville for close to a decade now.

I am no expert, but I imagine it will perform very well and should be considered. It's transforming rapidly. Gentrification well underway. A newly opened wine bar is doing a roaring trade, tattoo parlour is open, so many great food options. It's become a rather desirable, first choice suburb and is morphing towards something like a Surry Hills/Newtown. This effect is snowballing.

Not to mention:

- FOUR train lines. (Marrickville, Tempe, Dulwich Hill, Sydenham)
- Loads of buses
- Planned light rail to stop right by the south west end of Marrickville
- Immense new library to be complete around 2015 (I believe)
- $165m Marrickville Metro shopping centre upgrade on the way
- Council focused on growing the community; last year removed annual fee for cafés to have outdoor seating
- Heaps of parks, the cooks river, cycling track


And one last mention of the waves of change, Vic On The Park hotel (usual patronage: 5 old men drinking VB) just relaunched extremely successfully and is shooting to become an inner-west icon. It's newly renovated, has a basketball half court out back, a skateboarding setup is under construction, dogs are welcome, food is good, drinks are reasonable, there's an outdoor projector and it's has become a magnet for a whole breed of people (in great numbers) you didn't see in Marrickville 5 years ago.

Can't wait for the light rail. It'll be a nice trip.

2 bedders seem to be getting snapped up VERY quickly in the last couple of weeks.. $400-$460k will definitely get you one with a car space and probably 5% yield.
Click to expand...

Thanks so much - a great local insight. Greatly appreciated. The market does seem to be picking up...
 
I live on the border of Asfield and Summer Hill.

I pass the proposed light rail everyday.

I can see there are a lot of construction workers on the rail line. assuming they are surveying, measuring....

Ashfield and Summer Hill have very good existing train system already.
Ashfield has more frequent train than Summer Hill.

The 2 bedroom unit in Ashfield would be slightly cheaper than Summer Hill in general.

In Ashfield, units around Ashfield park are better which also reflected on price.

There is a new MacDonald opened opposite to Ashfield park. ( it was only open late last year. ) which is a good sigh of the area capital growth.

Oprington, Cecile, Ormond are good street in Ashfield ( more expensive slightly about 450,000 for 2 bedroom), Alt st, Bland st slight cheaper 400,000-450,000.


http://www.realestate.com.au/property-residential+land-nsw-ashfield-200521695


oh forgot to mention. there is an apartment block under construction on the intersection of Liverpool st and Gower st. ( border of Ashfield and Summer Hill)

I hope this info help.


Taylor
 
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