future of marrickville or ashfield?

[blessme]

Hi everyone, I'm looking for an investment property. I have a budget between 250k to 300k. I've been researching about marrickville. I found it's appealing for me since it's only 5 stations from central station and the price is within my range. I want to know your opinion about marrickville. I believe it's gonna be growing since it's very close to city and the price of surrounding suburb are already high such as st peters and newtown.what do you guys think?

I've got some opinion again from my relatives to buy in ashfield instead of marrickville. she told me that marrickville is not a good suburb compared with ashfield. It's quite stressful for me to find an investment within my budget. I'm open to any opinion. Thank you in advance for any advise

 

[MickInvestor]

Nothing can compete with your own research mate. The only thing standing between you and prosperity is doubt

 

[blessme]

Nothing can compete with your own research mate. The only thing standing between you and prosperity is doubt

yap i have doubt in me and that's the reason why i'm here to find second opinion to help me away from my doubt

 

[MickInvestor]

yap i have doubt in me and that's the reason why i'm here to find second opinion to help me away from my doubt

Mate in reality you cant go to far wrong in the direction you are heading so trust your own instincts and you will prosper

 

[alexlee]

I've got some opinion again from my relatives to buy in ashfield instead of marrickville. she told me that marrickville is not a good suburb compared with ashfield. It's quite stressful for me to find an investment within my budget. I'm open to any opinion. Thank you in advance for any advise

Are your relatives successful property investors? If not, should you really listen to them?

Thinking long term, why not go for multiple IPs? Get one in Marrickville, AND one in Ashfield in the future. Or even more in each area! Don't limit your thinking to just one property.
Alex

 

[Jontxu]

Hi there, performance of units in both areas according to Australian Property Monitors.
12 months to September 2007, for units.

Ashfield
Median: $337K
12 month median growth: 2.1%
10 year avg growth: 4.1%
Median rent: $290p.w.
Gross rental yield: 4.5%


Marrickville:
Median: $318K
12 month median growth: 5.3%
10 year avg growth: 7.7%
Median rent: $260p.w.
Gross rental yield: 4.3%

Marrickville has been a better performer for units over the last 10 years.

Happy investing
Jon Salvador
www.headinghome.com.au
For investors … from investors

 

[blessme]

Are your relatives successful property investors? If not, should you really listen to them?

Thinking long term, why not go for multiple IPs? Get one in Marrickville, AND one in Ashfield in the future. Or even more in each area! Don't limit your thinking to just one property.
Alex

i wish i can go for multiple IP but at the moment i have around 30-50k cash and borrow for the rest. I want to ask a question from you. if i have mortgage of 250-300k from bank, should i switch to interest only from beginning or should i pay the principal + interest after sometimes then switch to interest. My goal is to have enough money to buy the 2nd IP. I hope you can give me some advise or perspective. anyway thank you for your advise

 

[blessme]

Hi there, performance of units in both areas according to Australian Property Monitors.
12 months to September 2007, for units.

Ashfield
Median: $337K
12 month median growth: 2.1%
10 year avg growth: 4.1%
Median rent: $290p.w.
Gross rental yield: 4.5%


Marrickville:
Median: $318K
12 month median growth: 5.3%
10 year avg growth: 7.7%
Median rent: $260p.w.
Gross rental yield: 4.3%

Marrickville has been a better performer for units over the last 10 years.

Happy investing
Jon Salvador
www.headinghome.com.au
For investors … from investors

Hi thank you for the posted report.from the report that you have it seems that marrickville has more growth compared to ashfield. Do you have any idea why the price is still cheap compared with the other?is it because of the next few suburbs such as cabrammata, lakemba and liverpool are not good suburbs?Is it because on the western area?

 

[dajackal]

hi Blessme,

I also have similar questions to yourself...have you been able to find the answer???

 

[blessme]

I haven't got the answer but what i believe it is caused by the location itself which is in western. and if you look into the line then you will find that it is one line with liverpool, cabramatta and lakemba, well i think u can understand what does that mean?I'm still interested on it anyway

 

[ianvestor]

i wish i can go for multiple IP but at the moment i have around 30-50k cash and borrow for the rest. I want to ask a question from you. if i have mortgage of 250-300k from bank, should i switch to interest only from beginning or should i pay the principal + interest after sometimes then switch to interest. My goal is to have enough money to buy the 2nd IP. I hope you can give me some advise or perspective. anyway thank you for your advise

If you are investing for long-term capital growth, I would go for interest only. You can always simulate a principal and interest loan if you really want to, by putting any spare cash into a 100% offset account (if available) or into a high-interest savings account.

By the way, someone I know bought a terrace house in Marrickville for $450k at the start of 2007 and has just had it valued at $490k. It was a surprise result, but maybe 450 was too cheap in the first place.