Investing in Dulwich Hill?

T

The Chaser

Hi everyone

Just wondering what people think of Dulwich Hill in Sydney, NSW? Which are the good or bad areas in the suburb? Can anyone tell me what the capital growth prospects are like for this suburb? I have been looking at deals like this one...

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=106029404&f=0&p=30&t=res&ty=&fmt=&header=&cc=&c=15631301&s=nsw&snf=ras&tm=1256293089

Is anyone familiar with this particular complex or have any opinions on its location, future prospects or attractiveness to tenants?

All feedback greatly appreciated. Thanks.

Angela :)
 
Nothing wrong with Dulwich Hill, Angela. You can pick up 2brm units in complexes without pools & spas for $420K+ and with probably lower BC fees but the yields are OK at around 5+% for this one you're looking at.

GC for units in Dulwich Hill has been +ve for every year for the last 10 years with the exception of 2004 when it was, wait for it, -3.4%. Its a keeper :)
 
Propertunity said:
Nothing wrong with Dulwich Hill, Angela. You can pick up 2brm units in complexes without pools & spas for $420K+ and with probably lower BC fees but the yields are OK at around 5+% for this one you're looking at.
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Thanks for the reply Propertunity. Can you (or others) tell me if the location of this property is considered to be in a desirable part of Dulwich Hill? I seem to recall reading somewhere that there are some less desirable areas. Is aircraft noise an issue in this area?

GC for units in Dulwich Hill has been +ve for every year for the last 10 years with the exception of 2004 when it was, wait for it, -3.4%. Its a keeper :)
Click to expand...

Without having a subscription to the likes of RP Data or Residex, can anyone tell me how best to research/look up capital growth figures (both historical and projected) for individual suburbs?

FWIW Australian Property Investor magazine had Dulwich Hill in its list of hottest 100 suburbs for the year.
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Which API issue was this in? Thanks.

Angela :)
 
The Chaser said:
Thanks for the reply Propertunity. Is aircraft noise an issue in this area?
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Why don't you go over there and park the car for an hour and have a look & listen :)

The Chaser said:
Without having a subscription to the likes of RP Data or Residex, can anyone tell me how best to research/look up capital growth figures (both historical and projected) for individual suburbs?
Click to expand...

http://www.investsmart.com.au/prope...p?Postcode=2203&Suburb=Dulwich Hill&State=NSW

Investsmart used to do the last 10 years for free. Now they do the last 2. I guess APM wised-up and realised you can't make money selling reports if you give it away for free. ;)

...although rp data does give away a freebie (still).
http://www.myrp.com.au/showProductDetail.do?reportTypeId=1&propertyId=


The Chaser said:
Which API issue was this in?
Click to expand...
November 2009 - got my copy earlier this week
 
Thanks for the extra information Propertunity. The links you gave me were helpful and I guess my Nov issue of API will arrive soon...things seem to be a little slower arriving in the west! :rolleyes:

Jacque said:
Can't comment on the block but can answer your questions about air traffic noise- YES it's affected flight path wise but most ppl who live in this part of the Inner West are familiar with it so why let it worry you? Mind you it's probably not a bad idea to check out the flight paths for yourself like this one from google...

http://maps.google.com.au/maps/ms?msa=0&msid=105686047848531438589.00046881acd1e03708602
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Thanks Jacque. It's certainly clear from the link you gave me that flight paths impact on the Dulwich Hill area. I had also noticed that part of the complex I have been looking at also backs onto a train line. As someone who has never lived in Sydney, is it fair to say that these sort of influences are stock standard in the Inner West and would have no significant impact on finding suitable tenants?

I'm still interested to know if there are less desirable parts of Dulwich Hill that may be best to avoid and what the reputation is of the the area I am looking at (Constitution Rd), so any comments would be greatly appreciated. Thanks.

Angela :)
 
The Chaser said:
Thanks for the extra information Propertunity. The links you gave me were helpful and I guess my Nov issue of API will arrive soon...things seem to be a little slower arriving in the west! :rolleyes:
Click to expand...
You know how it is WA = wait awhile :)


The Chaser said:
... part of the complex I have been looking at also backs onto a train line. As someone who has never lived in Sydney, is it fair to say that these sort of influences are stock standard in the Inner West and would have no significant impact on finding suitable tenants?
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No, it would not be fair to say that. Properties that back onto train lines are worth less than those in quiet streets. They are less desirable to tenants also. They want to walk to train but not be on top of it ;)
 
Last edited:
It's not a bad complex, that one. We did a bunch of Depreciation Schedules in there.

Any plane noise will be incidental. It's not under the landing path and the take-offs get sprayed around so much only the odd plane will go over - and it will be pretty high.

That train line is a goods line, so it doesn't get used much.

The property is about 400 metres from some very good shops and food places. The bus to the city is at the shops, too.

Have a look on Google Earth.

Scott
 
Chaser - DM the address and I would be more than happy to send you a complimentary report, if I can.

Hope this helps
Jane
 
I heard The Dennison apartments were a bit scruffy from a friend who checked them out a few months ago.

In terms of the area though, I'd definitely recommend it. Plane noise isn't as bad as Petersham or Marrickville. That train line is a disused goods line which may be converted into light rail, in which case property prices should go up nicely.
 
Wow...thanks everyone for the great feedback! This forum is a fantastic tool when buying interstate. :D

depreciator said:
It's not a bad complex, that one. We did a bunch of Depreciation Schedules in there.

Any plane noise will be incidental. It's not under the landing path and the take-offs get sprayed around so much only the odd plane will go over - and it will be pretty high.

That train line is a goods line, so it doesn't get used much.

The property is about 400 metres from some very good shops and food places. The bus to the city is at the shops, too.

Have a look on Google Earth.

Scott
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Hi Scott, great comments specific to the complex we have been looking at and its surrounds. Really helpful post, so thanks. :) In light of Joe C's comments that he had heard:
The Dennison apartments were a bit scruffy from a friend who checked them out a few months ago.
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I was wondering if the depreciation schedules that you did were recent? Also based on your experience is it possible for you to give a rough ballpark figure for yearly depreciation on 2 bedroom units in this complex (will help me crunch my numbers)?

I had previously looked on Google Earth and noticed the shops you referred to - are they the shops along the New Canterbury Rd end of Marrickville Rd? It's reassuring to know that they are considered "very good" and thus could be handy for tenants.

Buzz - I will send you a PM. Thanks. :)
 
Constitution Rd in Dulwich hill is also used as a rat run to get from Summer Hill to suburbs like Sydenham, for example. Also it's a bit far from the train station, in my experience most renters look to live near a train station so that it's easier to get out to places like epping, parramatta for whatever reason. Equally there are people happy to live near a bus stop cos they only go into the city, if so that's great.
 
Tess is right - D Hill and Summer Hill train stations are too far to walk.

I had previously looked on Google Earth and noticed the shops you referred to - are they the shops along the New Canterbury Rd end of Marrickville Rd? It's reassuring to know that they are considered "very good" and thus could be handy for tenants.
Click to expand...

Yep, that's them. A couple of butchers - one very good. Two fruit shops - one very good. Good pizza place, Good wog bread shop, two or three good cafes, small bottle shop, small supermarket, newsagent, half a dozen good restaurants. Gee, I wish it was my local shops.

I was wondering if the depreciation schedules that you did were recent? Also based on your experience is it possible for you to give a rough ballpark figure for yearly depreciation on 2 bedroom units in this complex (will help me crunch my numbers)?
Click to expand...

Depending on the size, depreciation should be $6-8,000 in the first year and a similar amount in the second.

Scott
 
Tess and Scott - thanks for the replies. It's great being able to access this sort of local knowledge from Perth! Scott, thanks for the depreciation figure. Thankfully it reflected the figure I had been using when crunching my numbers, so all good on that front at least.

Cheers
Angela :)
 
dulwich hill

hi guys, i know of the block, my friend lives there, its not scruffy and great to walk around the corner to nice restaurants. the park across the road is beautiful and my friend says the levies are really affordable. if i didn't purchase another place a while ago, i would have loved to have got one here. :)
 
Interester

Hi,

We are very keen on investing in 553, New Canterburry Road, Dulwich Hill property.
Would someone please provide a quick review on the area. We live far in ACT and need to know anything and everything about DHill area.

Much appreciated.
 
Have you read this thread?

It's not a bad review of the D Hill area. I'm not sure what more could be added. Perhaps you have some specific questions?

Scott
 
New Canterbury Rd is a busy road.
Ive personally found it hard to attract tenants when the unit is located on a busy road.... even if its at the back of a complex.
 
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