Is rhodes/homebush bay area a good place to live?

Im a first time buyer and currently shopping for 1-bedroom apartments. Im looking in rhodes and wolli creek and having a feel. Would like to know what are the perks staying at rhodes beside having a shopping mall nearby and a nice view of the lake
 
Im a first time buyer and currently shopping for 1-bedroom apartments. Im looking in rhodes and wolli creek and having a feel. Would like to know what are the perks staying at rhodes beside having a shopping mall nearby and a nice view of the lake

Hey mate, where did you end up buying and what do you think of it?
 
Im a first time buyer and currently shopping for 1-bedroom apartments. Im looking in rhodes and wolli creek and having a feel. Would like to know what are the perks staying at rhodes beside having a shopping mall nearby and a nice view of the lake

If you decide to buy a 1 bedroom unit there, make sure its because you want to live there and not for investment reasons. If it were for investment reasons then do an about-turn as quick as you can and keep running, do not stop for go and do not collect that $200. Just keep running.
 
If you decide to buy a 1 bedroom unit there, make sure its because you want to live there and not for investment reasons. If it were for investment reasons then do an about-turn as quick as you can and keep running, do not stop for go and do not collect that $200. Just keep running.

You don't like 1 beds? They seem to snap up pretty quick in Wolli Creek. Not sure about Rhodes.
 
You don't like 1 beds? They seem to snap up pretty quick in Wolli Creek. Not sure about Rhodes.

Hi Mighty Will.

Its not so much about "not liking 1 beds". I am indifferent to all property in general. I only 'like' property that is going to get me to my clear and specific goals faster, rather than slower.


1 beds historically have not been amazing for CG, and its CG IMHO that builds wealth the fastest and gets most ppl to their goals, most don't even know it, but its the CG they are after (gosh the irony:D) There are many reasons why 1 beds don't have great CG...one of the main ones is there is simply not many people wanting them bad enough to increase demand to a point where it outstrips supply that CG grows substantially. I have seen SOME 1 bed units in VERY, VERY SPECIFIC areas that have done well in the last 10 years, but its unlikely to see similar CG over the next 10. And this is a small number of cases I believe in some 'prestige' markets. Every property purchase has to be looked at in the context of "How is this particular property going to get me closer to my clearly stated goals."

And if someone doesn't have 'clear and specific goals' followed by a clear strategy for their particular situation....then IMHO its largely game over. I know its kinda bleak...but I truly believe that's the reality.
 
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One beddas are cheaper than 2 or 3 beddas......that's the compensation...they're cheaper.

You still get CG, but the value of a one bedda will always be less than a 2 or 3 bedda.
 
One beddas are cheaper than 2 or 3 beddas......that's the compensation...they're cheaper.

You still get CG, but the value of a one bedda will always be less than a 2 or 3 bedda.

HI Datto, I agree with you mate - of course you will still get CG. Only question is how much will you get over how long a period? If we are assuming that generally people want to achieve their goals (whatever they may be) sooner rather than later as that just makes sense, then its very important that we don't just have the approach of 'yeah it will still have CG'. This is really important, in terms of building wealth sooner rather than later. If people have the capacity to achieve their goals sooner, it simply is illogical to choose a path that in most probability will see them achieving their goals much later, if at all. Now of course it depends on the individuals personal situation but generally if they can afford a path that has a higher probability of getting them to their goals sooner, it just makes sense.
 
Sometimes they are higher yield too. Depends on demographic. We live in the middle of Darlinghurst, Rushcutters Bay and Kings Cross and 1br is really popular here. I wouldn't want anything else as it encourages me to collect too much crap that makes it hard to be mobile.

Saw one go for over 1 million couple of weeks ago, that owner certainly has a large CGT bill!

Back to Rhodes, I think the demographic is a bit different as it is cheaper, but you do have students going across the bridge to the uni as well - although students love to share.

I lived in Rhodes for 4 years and it's a great area. I did live in a house on the east side though but I think the location is good. Surrounded by parks, close to homebush, Ryde, Strathfield, meadow bank ferry, and only 30 minutes to the city by train. I used to walk and run along the water to Concord most evenings.

There are lots of new apartments but the good thing is there's no more land due to being surrounded by water. So when the building stops there's no more supply and should be good gains. For me as a consultant who has to be able to get to anywhere in Metro Sydney, it was awesome as it's like the middle of everywhere. I never had to go much further west than Parramatta or Westmead though.

I'm not sure how the apartment prices are now though and you might have to be careful of overvalued listings.
 
There are lots of new apartments but the good thing is there's no more land due to being surrounded by water. So when the building stops there's no more supply and should be good gains. .

I would imagine those gains would take a very, very long time to be significant. There are thousands of units. Literally. In a very compacted area. :eek::eek: to me its just a no brainer. But that's only 1 opinion.
 
hi Leo, I've got a lion heart lol, and I've invested one beddas. I think it's all relative, if you got a set budget and invest in say one area and you buy say 5 x 2 beddas or say 8 x 1 beddas...in the end I think you will find the CG works out to be about the same.

I think 2 beddas will always be X % more than 1 beddas in the same area. So to me it's 6 of one or half dozen the other.
 
and a nice view of the lake

I work in Rhodes but would never want to live there. You do realise that "lake" is a toxic swamp that will not only allow you to breed kids with 3 arms if you go swimming in there but south-westerly winds at low tide absolutely stink, particularly towards the southern end of the peninsula.

Commuting in and out of Rhodes daily is becoming more and more difficult as both the residential and commercial population increases over time as there's still only 1 road in and out. Street parking is becoming a real problem too.

They are building a pedestrian and bus lane bridge across to Wentworth Point in the next couple of years, I don't know if this will add value or not but thought I'd mention it for those who aren't aware of it.

And worst of all, they recently finished building 7 on Rider Blvd and opened the shops down the bottom... and after years of speculation there's still no pub!
 
Have always been careful about 1 beddas but it's clear that their desirability has increased progressively this century - in Sydney at least.
I'd seriously consider one for a PPOR or alternative PPOR when I get mega-rich, if it was in the right place and/or if it was huge with a good aspect.
Now they've started talking about building high-rise highschools, flexibility is a must.
 
I live in Wolli and my brother is currently renting in Rhodes.

I work in the city and spend a lot of time there on the weekend, so Wolli is perfect for me. From an investment POV I've seen rents decline in the past 12 months. There is a massive amount of apartments being completed in the last 12 months. The local Woolies was great when it opened a couple of years ago, now it's just annoying because of the massively undersized carpark. Local roads aren't equipped to handle the impending influx of traffic.

Rhodes feels laid out a lot nicer than Wolli, but is a lot harder to get around from and to on the weekend. Traffic from DFO and around the M4 / King Georges intersection a pain on the weekend. Lots of supply available now too.
 
hi Leo, I've got a lion heart lol, and I've invested one beddas. I think it's all relative, if you got a set budget and invest in say one area and you buy say 5 x 2 beddas or say 8 x 1 beddas...in the end I think you will find the CG works out to be about the same.

I think 2 beddas will always be X % more than 1 beddas in the same area. So to me it's 6 of one or half dozen the other.

Hey Lion heart :p (btw awesome name, nick name for van damme in wrong bet) i think on this one were just gonna have to agree to disagree :D

You should consider changing your nick to Lion Heart though :D
 
They are building a pedestrian and bus lane bridge across to Wentworth Point in the next couple of years, I don't know if this will add value or not but thought I'd mention it for those who aren't aware of it.

And worst of all, they recently finished building 7 on Rider Blvd and opened the shops down the bottom... and after years of speculation there's still no pub!

The bridge you are talking about is paid by the Wentworth Point developers because it is so isolated and not convenient at all. They paid it so that once connected to Rhodes, they hope that their house value will increase, and they can sell more OTPs

http://homebushbaybridge.com.au/

With that bridge, they can then say Wentworth Point is "walking distance" from work, Ikea and trains. It would not increase Rhodes house prices, but increase the foot traffic at Rhodes as people living at Wentworth Point walk to Rhodes for shopping and commuting.

I cannot really imagine living there and have to walk across stinky Homebush Bay everyday, especially in summer!
 
Hopefully that means they increase the number of trains as well, as it was starting to get quite packed already with all the new population growth in Rhodes.
 
I used to do rowing in that river - it does tend to stink up a bit in the summer heat. Not terribly bad but it certainly isn't refreshing like Clovelly.

Shopping trolleys everywhere as some locals are just plain rude and don't use their car for their shopping.

Lots of doctors live in the area as Concord Hospital is just down the road.

Isn't Rhodes considered to be the geographic centre of sydney? (Which is dynamic anyway considering its expanding in all directions except east!)
 
Hopefully that means they increase the number of trains as well, as it was starting to get quite packed already with all the new population growth in Rhodes.

Wait until the residential towers at Meadowbank are finished, Holdmark have 10 stages of building works right along the river plus the other 4 builders completing residential towers.
Then all the people will get on at Meadowbank and there will be even less room on the train when it pulls into Rhodes.
 
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