High CG Sydney Suburbs
- Thread starter H2O
- Start date
Redfern's CG has been very good. 15 yrs ago the median house price was around $300K. Now it is $837K. You can see from the chart over the last 12 months prices have off a bit - some people would call this a buying opportunity 
If you tell us your budget, you are likely to get a better response to your Q.
Cheers, Alan.
If you tell us your budget, you are likely to get a better response to your Q.
Cheers, Alan.
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Based on that advice you should plan to buy in Redfern 15 years ago.
The problem for me about capital growth rates is that they are reports about what has already happened.
Yes but you would expect that the same drivers of CG in the past will continue to drive CG next time. Unless demographics change...
Redfern has somewhat cleaned-up or gentrified in the past decade, much like Newtown and Paddington many years before that. (My father used to say that Paddington was a very bad area, they'd cut your throat for threepence and give tuppence change.) Suburbs can only do that every couple of generations surely?
H2O if you think Redfern is expensive now, it was way cheaper 10 to 15 years ago... but would you have even considered living there? The "opportunity" then lies in buying a place that is undesirable now and wait/hope that it gentrifies. Generally this happens from the inner city outwards. Look at St Peters, Tempe... Arncliffe... Erskineville, Waterloo, Everleigh... Ultimo, Broadway etc. Places near the water went long ago of course: Glebe springs to mind.
Buying AFTER the area has turned the corner means that most of the CG has already been and gone. Problem is that most people wouldn't want to live there before the gentrification happens.
Not being argumentative (well I guess I am but in a nice way LOL) just trying to work this stuff out.
H2O if you think Redfern is expensive now, it was way cheaper 10 to 15 years ago... but would you have even considered living there? The "opportunity" then lies in buying a place that is undesirable now and wait/hope that it gentrifies. Generally this happens from the inner city outwards. Look at St Peters, Tempe... Arncliffe... Erskineville, Waterloo, Everleigh... Ultimo, Broadway etc. Places near the water went long ago of course: Glebe springs to mind.
Buying AFTER the area has turned the corner means that most of the CG has already been and gone. Problem is that most people wouldn't want to live there before the gentrification happens.
Not being argumentative (well I guess I am but in a nice way LOL) just trying to work this stuff out.
Mhhh that boat has sailed imo. I would be looking for an area that has escaped the spotlight and is likley to experience some positive demographic shift.
I still remember renting a share house in balmain in 1994, demographics were changing quickly then, the punks were moving out and the city workers moving in. Cottages for $300k now $1.5 mil... mum said I should buy but I was too busy ******* it up!! Point is need to look for where is changing or where will change soon...easier said than done though.
I still remember renting a share house in balmain in 1994, demographics were changing quickly then, the punks were moving out and the city workers moving in. Cottages for $300k now $1.5 mil... mum said I should buy but I was too busy ******* it up!! Point is need to look for where is changing or where will change soon...easier said than done though.
Further to the above I should note thay many of the "cottages" have been seriously renovated in that time.
And fumigated to rid the smell of marijuana?
Just my personal opinion, but I think places like Marrickville, Tempe, Sydenham, Arncliffe etc have good prospects going forward & if you want a cheaper entry point.
maroubra???????????
Agree. Marrickville I think I have already missed the boat on.
Arncliffe is my current pic. Looking at getting a 2 bed semi detached for the 540k mark.
I can't think of anywhere else on a train line that close to the city you can get a price like that.
Actually they're still a bit expensive i think. What about a bit more south? Carlton, Hurstville, Kogarah, Rockdale, etc.? The entry point is more comfortable.
I prefer Hurstville but it seems there has been plenty of apartments around railway station available to the market. The rental return also isn't high.
How's the CG of these suburbs?
^ ^ need to know this.
I expect around $400k.
I live in Arncliffe. Bought a really nice semi earlier this year.
went to an auction for kicks a couple weeks ago. vendor wanted $810 (couldnt believe the price they commanded)..
Bidding went up to $808k.. and the vendor declined
Absolute id$ot if you ask me.
I've never seen a better example of greed.
But yeh, pries seem to be moving.
and there is NO aircraft noise on the western side.
went to an auction for kicks a couple weeks ago. vendor wanted $810 (couldnt believe the price they commanded)..
Bidding went up to $808k.. and the vendor declined
Absolute id$ot if you ask me.
I've never seen a better example of greed.
But yeh, pries seem to be moving.
and there is NO aircraft noise on the western side.
Aircraft noise does not seem to affect CG. A little further away, but quite badly affected by aircraft noise is Summer Hill - and it has one of the highest median prices and highest cap. growth rates.
What's the reason behind it has highest CG?Aircraft noise does not seem to affect CG. A little further away, but quite badly affected by aircraft noise is Summer Hill - and it has one of the highest median prices and highest cap. growth rates.
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