Haha it is Marrickville after all... What would it be without the odd drug den. Even with all its gentrification you can't deny it still possesses a slight ghetto flavour.
Just bought in Marrickville
- Thread starter Richard Feynman
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Haha it is Marrickville after all... What would it be without the odd drug den. Even with all its gentrification you can't deny it still possesses a slight ghetto flavour.
I inspected that that one (definitely superior, for a slew of reasons) and they're quite close to one another so geographically there's little difference.
Watch out inner west investors, first home buyers are going to be pricing YOU out of the market
I reckon what's happened is the people who previously wanted to live in trendier places have discovered how "cool" Marrickville is now (and/or have been priced out of their first choice), and have headed this way, along with their deeper pockets.
A Redfern property valuation for the same time frame came back similar % growth. If it can sustain such growth for the next 3 quarters and for next 3 years, we all did well in the inner west/cbd area..
I paid a good $20,000-$30,000 under market value for that one -- so keep that in mind. Only half (or so) of the increase is due to growth.
Just bought in Marrickville. Again.
So, I just snagged another one in the same complex.
It?s in a different building, on the top floor, has a leafy outlook, is a bit bigger inside and also has a nice, open floorplan.
Listing: http://www.realestate.com.au/property-apartment-nsw-marrickville-116434351
And the new light rail (350m) commences service in two days.
So, I just snagged another one in the same complex.
It?s in a different building, on the top floor, has a leafy outlook, is a bit bigger inside and also has a nice, open floorplan.
Listing: http://www.realestate.com.au/property-apartment-nsw-marrickville-116434351
And the new light rail (350m) commences service in two days.
Another one ! Rinse and repeat. Well done Richard
First time I've seen this thread, I was looking through the thread from beginning and saw the impressive graph in December 2013.
Buying another one, therefore I take it's met all expectations?
What's the main driver of price for M-ville in recent times. It seems to be a new spillover suburb from out-priced buyers? Is this the new norm?
First time I've seen this thread, I was looking through the thread from beginning and saw the impressive graph in December 2013.
Buying another one, therefore I take it's met all expectations?
What's the main driver of price for M-ville in recent times. It seems to be a new spillover suburb from out-priced buyers? Is this the new norm?
Living in the inner west myself I find Marrickville has changed a lot in the last 5 years or so. More restaurants (cheap good Asian ones), coffee shops, cheap local grocery shops, more village feelings. My friends recently rented a two bedders close to the train station and they said there was a long queue for inspection, surprisingly all Caucasian so I guess Marrickville is no longer identified a Vietnamese or Greek's suburb anymore? Plus a two bedder in trendy Newtown now will set you back high 600 or even around 700K. So in a way Marrickville is still considered 'more affordable'. Can't complain cause I bought an IP there a few years ago
Nice work!
Good on you Richard!
Certainly has met all expectations.
As for the price drivers, I think a few factors are coming in to play. A few follow:
- Ex-renters within the suburb (or surrounds) are now taking the plunge and buying
- Great, pro-active local council - they're doing wonderful things to lift the area, support local business and build the community
- Smooth and efficient DA process - the suburb has been able to transform (thus grow) quickly to meet changing demographics and demand
- Fantastic transport throughout
- Excellent parks and recreational areas - parks account for something on the order of 1/4 of the land in Marrickville if memory serves
- It's become a first choice suburb for a lot of buyers - I've even met overseas visitors out and about who have been told to check it out
- Spillover from buyers priced-out of places like Newtown is also happening
- The explosion of even more excellent food, coffee and entertainment is endless
- Where else will you find a pub with a basketball half court, where dogs and kids are also welcome?
The Greek and Vietnamese communities have been established here for a long time (representing some of Marrickville's best food, I might add) and are still quite present but naturally, the balance is changing. I can't imagine the Vietnamese presence dwindling much though. Heaps of businesses including grocery stores, chemists, a stack of excellent restaurants etc appear to be thriving. You can even get a Vietnamese coffee close to midnight during the week if you know where to look. And while those churches are still around, and houses paid off, there will be plenty of Greek folks about too.
Plus most of them own their homes outright.
It has also been tagged as a new gay suburb, which is great. I was worried that as the old Greeks died off and their houses got bought by professional couples, that the suburb was going to become a bit boring. It tends to be gay couples who are priced out of Newtown, or opt to come to the next suburb out so they can get a yard and somewhere to park - often female couples who have kids. I still remember the day one of my kids came home from school and said, 'Dad, guess what. Noah has got two mums!' We agreed that Noah was pretty lucky.
Looking at the price and your recent valuation, that's another good buy.
when will this thread end? lol
Perhaps when Richard stops buying properties in Marrickville.
That could be a while.
Hey Richard
How funny that you bought 5/38C - I live in the block next door and saw the SOLD sticker pre-auction so called Rich & Oliva to enquire about the price...
My place is similar in size I think, no parking, but I've reno'd a fair bit, including creating a small third room. On the downside my block is not battleaxe and I'm up the front in the cheap seats. I bought in July 2011 for $390k which was bang-on; not a bargain.
I went on the light rail today! It's definitely not a replacement for the train for going to the city, but I popped up to Leichhardt and can see myself using it from time to time for Glebe, Pyrmont etc
After 10 years in Newtown, I feel a little out of the action where I am but I do love The Ville and all its delights.
Hey BTW look out for a TV reno show called House Rules coming in May, I think. They just shot in your block...we all saw parts being filmed, including someone yelling "there's only two hours to go!" as you'd expect
PS I love your username - many years ago I saw a wonderful program about 'Tuva or Bust'...great guy...
How funny that you bought 5/38C - I live in the block next door and saw the SOLD sticker pre-auction so called Rich & Oliva to enquire about the price...
My place is similar in size I think, no parking, but I've reno'd a fair bit, including creating a small third room. On the downside my block is not battleaxe and I'm up the front in the cheap seats. I bought in July 2011 for $390k which was bang-on; not a bargain.
I went on the light rail today! It's definitely not a replacement for the train for going to the city, but I popped up to Leichhardt and can see myself using it from time to time for Glebe, Pyrmont etc
After 10 years in Newtown, I feel a little out of the action where I am but I do love The Ville and all its delights.
Hey BTW look out for a TV reno show called House Rules coming in May, I think. They just shot in your block...we all saw parts being filmed, including someone yelling "there's only two hours to go!" as you'd expect
PS I love your username - many years ago I saw a wonderful program about 'Tuva or Bust'...great guy...
Hey Richard
How funny that you bought 5/38C - I live in the block next door and saw the SOLD sticker pre-auction so called Rich & Oliva to enquire about the price...
My place is similar in size I think, no parking, but I've reno'd a fair bit, including creating a small third room. On the downside my block is not battleaxe and I'm up the front in the cheap seats. I bought in July 2011 for $390k which was bang-on; not a bargain.
I went on the light rail today! It's definitely not a replacement for the train for going to the city, but I popped up to Leichhardt and can see myself using it from time to time for Glebe, Pyrmont etc
After 10 years in Newtown, I feel a little out of the action where I am but I do love The Ville and all its delights.
Hey BTW look out for a TV reno show called House Rules coming in May, I think. They just shot in your block...we all saw parts being filmed, including someone yelling "there's only two hours to go!" as you'd expect
PS I love your username - many years ago I saw a wonderful program about 'Tuva or Bust'...great guy...
Fancy that.
Did you see the unit in your block that's going to auction in a few weeks? It was posted earlier: http://www.realestate.com.au/property-apartment-nsw-marrickville-116461663. It's been renovated to a high standard (for the area). They removed an internal wall to open the space up heaps too.
I'm curious about your floorplan and that third room in your place. What'd you reconfigure to get it in there? I assume it's not a habitable room?
I was aware of that TV show, but didn't know what it was called. They picked 5 owner-occupiers in the one block in "need" of a reno. I reckon they'll look good on camera but won't have been much chop. Maybe some resurfaced kitchen cabinets/benchtops, spray painted walls and perhaps a bit more built in storage. Time will tell.
It'll be interesting to see how the show affects sales/interest in the block, if at all. Apparently the producers looked all over Sydney to find a nice little "community" to film the show. The apartments there are pretty tightly held (heaps of owner occupiers -- many have been there since the late 80s/early 90s).
As for the username, I'm glad to see another member pick it up -- doesn't happen much. The man was a brilliant, brilliant human. A true inspiration. And I'm not even referring to his scientific accomplishments.
