Edmondson Park and Townhouse + Studio

What is everyone's thoughts on all the new development happening at Edmundson Park.

http://www.realestate.com.au/property-terrace-nsw-edmondson+park-117519223

They seem to be building townhouses with a studio attached.

Do any of you have any experience trying to rent out a studio and a townhouse on the same block, especially when the studio is actually under/above the garage.

Do you think it is likely that you would be able to rent both to separate tenants at the same time if you incurred the cost of the separate meter?
 
The selling agent would be able to provide you with all the info on the studio such as separate meter, whether can be rented out separately etc.. Though the studio is a bit small, it is a clever design though with a separate entry.

Not sure the studio is approved under SEPP. Though you're allowed to build on top of garage, but land is 180m2 so not sure...

another thing is the studio is quiet small, so a couple would be too small to live in.
 
Hmm this is a neat innovative way to get a good yield. Note there are financing constraints associated with 'dual key' single title apartments.

It can be done, but it is particularly difficult to do in LMI territory.
 
Can i ask, why would you pay $665k for a terrace when you can pay $670k for a freestanding house?
http://www.domain.com.au/property/n...land/nsw/edmondson-park/?adid=2011404247&sp=3

But that aside, surely there are better value items in Sydney for $665k. Edmondson park isnt exactly close to anything.

Umm I am not too sure if you know anything about the area but their a lot of infrastructure being completed and already at Edmondson Park. Also the new airport is being built close buy as well so i think it would be close to at least something.
 
Hmm this is a neat innovative way to get a good yield. Note there are financing constraints associated with 'dual key' single title apartments.

It can be done, but it is particularly difficult to do in LMI territory.

Just curious, why would the dual_key, dual_income apartment be any different to a house with granny_flat? we know the house+ granny_flat may face challenges with valuation, but never LVR issues.
 
Umm I am not too sure if you know anything about the area but their a lot of infrastructure being completed and already at Edmondson Park. Also the new airport is being built close buy as well so i think it would be close to at least something.

Im not overly familiar with the area, but I am familiar with the surrounding suburbs such as liverpool.

As what is "a lot of infrastructure being completed"... what kind are we talking about here?

As for the airport being nearby, for years areas such as Mascot, Tempe, Sydenham had lower housing prices due to excessive noise. Its only with all the booming happening around sydney and its proximity to the city that its increased in value.

Therefore I would have question why I would one pay a premium to live in a new suburb such as Edmondson Park when there are already areas that are already established that are closer to the CBD (eg Wattle Grove, Liverpool, East Hills etc).
 
Cheers

Cheers guys, thanks for the helpful feedback.

I guess I am questioning the same things you are.

Think I'll stick to something closer to the CBD and already established.
 
Im not overly familiar with the area, but I am familiar with the surrounding suburbs such as liverpool.

As what is "a lot of infrastructure being completed"... what kind are we talking about here?

As for the airport being nearby, for years areas such as Mascot, Tempe, Sydenham had lower housing prices due to excessive noise. Its only with all the booming happening around sydney and its proximity to the city that its increased in value.

Therefore I would have question why I would one pay a premium to live in a new suburb such as Edmondson Park when there are already areas that are already established that are closer to the CBD (eg Wattle Grove, Liverpool, East Hills etc).

Their is a new train station is opening next year in edmondson park. It will be connecting to leppington and glenfield that will eventually connect to the new airport. Their is also plans for the train station to link to suburbs in campbelltown such as narellan and oran park. Oran park is also going to have one of the biggest shopping centres in sydney built witch is currently undergoing construction.
 
Just curious, why would the dual_key, dual_income apartment be any different to a house with granny_flat? we know the house+ granny_flat may face challenges with valuation, but never LVR issues.

Hmm its just a separate class of security in the eyes of the insurers.

I assume its simply because GF+House are an older housing style and hence more known than 'dual key' apartments.

As it becomes more and more common, more likely to be ok. From the insurers perspective, out of the norm type securities are harder to sell, so harder to insure.
 
Umm I am not too sure if you know anything about the area but their a lot of infrastructure being completed and already at Edmondson Park. Also the new airport is being built close buy as well so i think it would be close to at least something.

Hmm i've had a couple bad experiences with dual key townhouses. Valuation often is an issue. Spruikers love selling this at prices that make sense from a yield play but not in terms of capital value (e.g. house being sold cheaper than terrace).

I'd be getting a val done before going too far ahead.
 
Their is a new train station is opening next year in edmondson park. It will be connecting to leppington and glenfield that will eventually connect to the new airport. Their is also plans for the train station to link to suburbs in campbelltown such as narellan and oran park. Oran park is also going to have one of the biggest shopping centres in sydney built witch is currently undergoing construction.

Thanks for the info. Always good to learn more about these things.

Out of curiousity, whats your view on the prices of Edmondson Park? For me it seems quite expensive based on what is on offer.

For example, using Wattle Grove/Holsworthy, there is already an established train station with a car park (though the carpark is ridiculously full from what I've heard). Express trains to the city that run past the existing airport. Liverpool shopping centre is nearby too. So on that basis, what is the benefit of paying so much to living in Leppington?
 
Thanks for the info. Always good to learn more about these things.

Out of curiousity, whats your view on the prices of Edmondson Park? For me it seems quite expensive based on what is on offer.

For example, using Wattle Grove/Holsworthy, there is already an established train station with a car park (though the carpark is ridiculously full from what I've heard). Express trains to the city that run past the existing airport. Liverpool shopping centre is nearby too. So on that basis, what is the benefit of paying so much to living in Leppington?

Tbh I just purchased in leppington in the second release when it was about 150k cheaper then it is now so I think I got on that boat just before it sailed. The commute to the city from edmondson park and leppington will be around 1hr give it take 5 to 10 mins. So not that bad. Alot of people like me who life in that area of liverpool leppington etc dont even commute to the city so proximatey to the city isnt really that important. More jobs are being created out this way due to construction.

I think the prices are too high but I think the south west especially the areas like you mentioned leppington liverpool and edmondson park will have more room to grow say then areas in the inner west especially if the airport goes ahead. If you live in sydney I suggest take a drive camden valley way in narellan and just have a look at the amount of infrastucture in the area
 
Hmm i've had a couple bad experiences with dual key townhouses. Valuation often is an issue. Spruikers love selling this at prices that make sense from a yield play but not in terms of capital value (e.g. house being sold cheaper than terrace).

I'd be getting a val done before going too far ahead.

Thats good advice I wwill have to second that opionion
 
So blackenator, why Leppington over an area such as Holsworthy or Wattle Grove. Just interested in understanding the drivers behind it.

(note: i do not own any property out that way)
 
So blackenator, why Leppington over an area such as Holsworthy or Wattle Grove. Just interested in understanding the drivers behind it.

(note: i do not own any property out that way)

Well firstly I got the fhog witch saved me about 30k all up. Secondly I beleive compared to the rest of the market these newer areas especially in south west and the west are undervalued or were undervalued. If sydney continues to grow as it has in the past 2 years I see more growth in south west and west than in comparisson to those areas you mentioned. Affordablilty will eventually become a issue
 
So blackenator, why Leppington over an area such as Holsworthy or Wattle Grove. Just interested in understanding the drivers behind it.

(note: i do not own any property out that way)

In my opinion Leppington and Edmondson park area will become the future hub. With the train stations operational by next year, it will act as a Central Point with train lines to go to (Liverpool, Parramatta and further west), (Airport, Sydney City circle ) and (Campbelltown, Macarthur). So transport wise it would be accessible from the major cities from all directions.
 
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