Lane Cove

[almostthere]

Lane Cove vs Lane Cove North vs Lane Cove West

Hi Folks,

I have been previously looking to purchase our PPOR (2 bed unit) around Macquarie Park, Galesville area. But now considering the lower north shore area particularly Lane Cove and Lane Cove North for its
closer proximity to CBD and multiple transportation options..

Have done a bit of research. Can someone familiar to these suburbs confirm my understanding of these areas and also probably add if I am missing anything?

Lane Cove North
===============
Pros

-Close proximity to train station ..some of the streets are as close as 700ms to Artamon station
-Close to Chatswood ~ 2km
-Multiple commuting option to city - M1, Victoria Road, via train from Artamon
-Leafy residential outlook

Cons

-Mowbray primary public school - not so good
-Mostly dominated by units & few new apartment block.. not many houses.

Lane Cove
==========
Pros
- Lance Cove primary public school - good
- Lane cove village fruit markets
- Mostly houses
- Leafy residential outlook

Cons
- A bit far ~ 2km to Artamon stations

I also looked Lane Cove West but that I feel that is way too far from the shopping area and train station.
CBD access is only via Victoria Road which gets too much choked during the peak hours..
But has good primary school (Lane Cove West Public School) ..

 

[misakimen]

I bought an 2 bed unit IP 4 years ago at Lane Cove North 460k. Just refinanced last month was valued at 600k. In terms of capital gain, i would say its below average. If you ask me if i would invest there again if times go back to 4 years, the answer would be no, because there were so much more better opportunity out there....i would rather buy a unit at epping/eastwood close to train station

Although LCN is close to Artarmon station, the price difference between the east and west side of pacific hwy is huge (100-150k).....probably its the school catchment factor...another thing is the traffic at mowbray rd in the morning will give you a headache

Hope it helps you a bit, and hope you find your place asap

 

[almostthere]

I bought an 2 bed unit IP 4 years ago at Lane Cove North 460k. Just refinanced last month was valued at 600k. In terms of capital gain, i would say its below average. If you ask me if i would invest there again if times go back to 4 years, the answer would be no, because there were so much more better opportunity out there....i would rather buy a unit at epping/eastwood close to train station

Although LCN is close to Artarmon station, the price difference between the east and west side of pacific hwy is huge (100-150k).....probably its the school catchment factor...another thing is the traffic at mowbray rd in the morning will give you a headache

Hope it helps you a bit, and hope you find your place asap

Thanks a lot mate.
I haven't looked at it from the historical CG aspect..Was assuming it to be good..thanks for bringing that up..but I wonder what is limiting it CG wise, it seems to have almost everything for it to be regarded as a good suburb and hence drive CG..

I don't quite like Eastwood for a place to live-in. Epping is nice but it seems to have gone up much more..and am not sure if I will be able to afford something equivalent to LC/LNC for the same price in Eppping..

 

[cadence]

I bought an 2 bed unit IP 4 years ago at Lane Cove North 460k. Just refinanced last month was valued at 600k. In terms of capital gain, i would say its below average. If you ask me if i would invest there again if times go back to 4 years, the answer would be no, because there were so much more better opportunity out there....i would rather buy a unit at epping/eastwood close to train station

Although LCN is close to Artarmon station, the price difference between the east and west side of pacific hwy is huge (100-150k).....probably its the school catchment factor...another thing is the traffic at mowbray rd in the morning will give you a headache

Hope it helps you a bit, and hope you find your place asap

that's not bad misakimen. bank valuations err on the conservative, you can probably sell it for more say $620k? That's 35% CG in 4 years which is more than 8%pa.

The yield is probably pretty high so you wouldnt have had to sink too much money into it over the years =)

For OP, 2066 is a lot closer to the city by distance. Eastwood, Epping are further but have train lines.

If you have your heart set on lower north shore, LC is the lowest entry point. I wouldn't worry too much about exactly which area in the 2066 area to pick. If you have the budget to buy closer to a station, do it. There will always be greater demand for those. Otherwise the other LC areas are fine too.

Because it's part of the LNS, within reasonable distance to city and the lowest entry, there will always be demand. 2br units are good for young professionals or couples. You're also starting to see more and more small families (parents plus a young kid) living in those 2br units.

Good luck.

 

[Jacque]

Lane Cove is one of my favourite suburbs bordering the LNS and we've bought for many clients here over the years too- lovely village atmosphere, good shopping, schools and decent transport (considering there's no train line on the Burns Bay Rd side ) More high rise dvpts in recent years going up, but it's long overdue for this suburb and in a city as popular and large as Sydney one needs to expect this.

Certainly LC North (Mowbray Rd) side is a little cheaper however the northern end is very convenient to transport, even walk to Artarmon rail and shops- properties in Helen St for example will tend to fetch a premium due to position here.

In the end, however, you need to ascertain what is most important for your situation and plan accordingly. If it's a particular school catchment that is your priority, or walk to transport/shops, leafy green or quiet environs etc only you can decide where is best to live. Best of luck with your hunt

 

[sash]

I live in Lane North......this place from my opinion is still under valued.

A very nice suburb..with lots of amenities. Avoid the newer units though!
The old stuff within walking distance to Artarmon station is GOLD!

If I was a betting man....Lane Cove North older stuff will hold its value relatively when the market turns..it always does. I would not be buying in Epping, Eastwood, or North Ryde...over hyped by the Chinois....it will come to grief. I see this also happening in the hills in places like Castle Hill, Cherrybrook, and Baulkham Hills.

I will be attending all the mortgagee sales in 2018...when interest rates hit 7%. Lots of people are forgetting what happened to Sydney in 2006!

Hi Folks,

I have been previously looking to purchase our PPOR (2 bed unit) around Macquarie Park, Galesville area. But now considering the lower north shore area particularly Lane Cove and Lane Cove North for its
closer proximity to CBD and multiple transportation options..

Have done a bit of research. Can someone familiar to these suburbs confirm my understanding of these areas and also probably add if I am missing anything?

Lane Cove North
===============
Pros

-Close proximity to train station ..some of the streets are as close as 700ms to Artamon station
-Close to Chatswood ~ 2km
-Multiple commuting option to city - M1, Victoria Road, via train from Artamon
-Leafy residential outlook

Cons

-Mowbray primary public school - not so good
-Mostly dominated by units & few new apartment block.. not many houses.

Lane Cove
==========
Pros
- Lance Cove primary public school - good
- Lane cove village fruit markets
- Mostly houses
- Leafy residential outlook

Cons
- A bit far ~ 2km to Artamon stations

I also looked Lane Cove West but that I feel that is way too far from the shopping area and train station.
CBD access is only via Victoria Road which gets too much choked during the peak hours..
But has good primary school (Lane Cove West Public School) ..

 

[almostthere]

I live in Lane North......this place from my opinion is still under valued.

A very nice suburb..with lots of amenities. Avoid the newer units though!
The old stuff within walking distance to Artarmon station is GOLD!

If I was a betting man....Lane Cove North older stuff will hold its value relatively when the market turns..it always does. I would not be buying in Epping, Eastwood, or North Ryde...over hyped by the Chinois....it will come to grief. I see this also happening in the hills in places like Castle Hill, Cherrybrook, and Baulkham Hills.

I will be attending all the mortgagee sales in 2018...when interest rates hit 7%. Lots of people are forgetting what happened to Sydney in 2006!

Yeah , I too think that the older blocks close to Artamon station (helen street, lynvale close , murray st etc) are worth looking even at the current price point..I quite like them..last week put an offer on one ..but lost it by around $30k mark

 

[Scott No Mates]

There's a lot of new units coming on line along Mowbray Rd/Centennial Ave Precinct. Mowbray PS is being redeveloped with 2 storey classrooms to cater for the perceived demand. The principal is retiring so the dynamics of the school should change too.

Trains are overrated as the bus takes 20 odd minutes along the freeway from the interchange. Look for something with easy access to Epping Rd.

You can also walk to Delhi Rd station. New major redevelopment mooted on this site as well.

 

[see_change]

Re capital gain , everything is easy in retrospect . If I was sitting on a capital gain in Sydney of 460 to 600 in the last four years I'd be happy . That's 30 % . Sure some places have improved more ,,but maybe that comes down to the property , what was paid and maybe the valuation is conservative .

It's easy to say Epping and Eastwood have out performed , but I understand that parts of the hills have out performed areas of the northshore , but for me that would be a reason to look at the North shore in preference to the hills area NOW. And ditto for lane cove vs Epping Eastwood .

BTW , that's not saying I'd buy in the North shore now . Personally I'm looking outside Sydney .

Personally I really like lane cove . I'd be happy to live there . I have friends there and they really like it . It's close to the city and has relatively good access , though like many places close to the city , the traffic will be heavy at times.

Cliff

 

[Marty McDonald]

Mowbray rd is a car park though and lots of new units going in. Still agree better than some other areas mentioned .

 

[windyzz]

Lane cove is a great suburb. I do however believed that the lower side (near the village) is a better bet. there are less developmentally there, quiter street yet very convenient. it took roughly 20-25 mins to CBD via express bus which comes every few minutes in peak hour time.

Also with capital gain, I believed the big growth is yet to come (The village is upgrading the Rosenthal car park).
with vacancies rate, the new apartment recently completed on the Finlayson street Botanic. There were a queue of ppl wanting to rent. From what I saw all the 2 bed was leased within few days of advertising. The yield is very healthy eating too ~770-850 per week.

I bought an OTP on a small boutique of 26 apartment in birdwood avenue no 17 2 bed 2 bath and 2 carspaces total of 135 sqm (internal+ balcony) for under 800. the growths is outstanding comparing with the newly created in Finlayson which are selling in 1 mill Mark.