Macquarie Park , West Ryde

[almostthere]

Hi Folks,

I am looking to purchase a 2 bed unit (PPOR) either in Macquire Park/West Ryde as this is close to my work (Macquire Park)..

The prices seems to have jumped up by 100k in last one year ..Average 2 bed old unit are being sold for around 600k mark now. What do you guys think about the prospect for these area?

Thanks in advance.

 

[EN710]

I can't comment on prospect of any area - not qualified to do that
But as someone who is living in the area (Macquarie Park), I love it.

• Easy access to transport - train and buses everywhere
• Newly upgraded Macquarie Centre accessible by foot
• Lots of parks to have a nice walk
• University nearby along with companies - relatively easy to get tenant in the future if I need to move out. Though this migth change as more units being built and settled in the next couple of years.

The downside is that, with additional units being build and new shopping centre, traffic is getting worse.

If you want to buy, maybe look for one facing quiet street, close to station (train is underground, you won't hear any train lines) and shopping centre by foot.

 

[jpcashflow]

Hi

Hello

I think both area's will continue to grow

Macquire Park/West Ryde - These areas have allot of employment opportunities and therefore there is still some growth in these areas.

I guess renting out the property wont be an issue at all and if you decide to live in it, I think you might do ok..

Cheers

 

[almostthere]

If you want to buy, maybe look for one facing quiet street, close to station (train is underground, you won't hear any train lines) and shopping centre by foot.

Do you mind naming few of the quiet streets that you like based on your familiarity of the area ?

What do you reckon of the Marsfield..it seems a bit cheaper than Macquarie Park..but a bit of walk to station..any other downside of Marsfield..

 

[EN710]

Do you mind naming few of the quiet streets that you like based on your familiarity of the area ?

What do you reckon of the Marsfield..it seems a bit cheaper than Macquarie Park..but a bit of walk to station..any other downside of Marsfield..

I'm not familiar with Marsfield unfortunately but as PPOR, I'd looking at how much you'll tolerate in terms of walking to transport.
E.g. for me 10 mins walk to train/ bus is the maximum as I work in the city an train come every 15 mins until 2019, when the new line is open then I"ll have more frequent train.
http://www.smh.com.au/nsw/epping-to...-for-northwest-rail-link-20140916-10hpdt.html
Remember you might not be working in Macquarie Park years to come.

I'd name some of the busiest road - Lane Cove Road, Epping Road, Herring Road, Waterloo Rd - as long as your place is not directly facing the road it shouldn't be too loud. Take time to visit the area and you'll have better idea.

 

[JameZ]

West Ryde

Agree with your sentiment that the prices have increased steadily in the area.

Brought an IP close to W Ryde station September last year and it has gone up 12+%.

Developments are also happening on the main (bus) side, with a new Coles that just opened and spanking new apartments building on top, so I think there is still CG opportunities.

Watch out for the high Strata in some buildings.

 

[MightyWill]

I think it's an ok area but wouldn't class as great. The train ride into city is about 30 plus mins and about 10 stops I think.

Living in a quiet street or facing a quiet street is obvious. When you inspect; is it on a busy road or not?

I like the idea of it being next to Chatswood which has a lot to offer in terms of shops, etc. The business park is a bonus but not everyone works there and if you do, you won't be there for life.

The issue I have is around the level of uni students; they are everywhere. This means you're neighbours and the likely hood of the complex being treated with extra care is nonexistent.

 

[EN710]

The train ride into city is about 30 plus mins and about 10 stops I think.

This is the main downside I found. Taking bus from epping road can actually be faster in the morning, about 20mins ride.

The issue I have is around the level of uni students; they are everywhere. This means you're neighbours and the likely hood of the complex being treated with extra care is nonexistent.

Yes and no depends on building management and how vigilant they are.
The worse offenders in my complex are not students.

 

[kamchatsky]

One thing I see changed recently is the number of people at Macquarie Centre. Since the expansions i noticed that there are so many people at the centre, it is very hard to get car park access on weekends. Suggest you if you are going to live around there, make sure you can walk to shops/station.

I would rate Macquarie Park/Uni (walkable to station/shops) over West Ryde (assuming the prices are the same).

 

[almostthere]

I would rate Macquarie Park/Uni (walkable to station/shops) over West Ryde (assuming the prices are the same).

Prices are slightly higher in Macquire Park. But as I work in Macquire Park (close to Macquaire Park Station), and I foresee working at my current job for many years to come, I rather would pay slightly more to be close to work.

I currently stay in Ryde which is pretty good area too and not that far from Macquarie Park..(10mins drive in peak hour via wicks Road)..25 mins bus drive to City..However, only drawback with the Ryde is no availability of the Train station.

 

[EN710]

I currently stay in Ryde which is pretty good area too and not that far from Macquarie Park..(10mins drive in peak hour via wicks Road)..25 mins bus drive to City..However, only drawback with the Ryde is no availability of the Train station.

And Macquarie Centre is a much better shopping centre compared to Top Ryde

 

[JameZ]

And Macquarie Centre is a much better shopping centre compared to Top Ryde

Only because of its proximity to Macq Business Park.
Will the recent expansion helped too!

 

[egga]

Hi Folks,

I am looking to purchase a 2 bed unit (PPOR) either in Macquire Park/West Ryde as this is close to my work (Macquire Park)..

The prices seems to have jumped up by 100k in last one year ..Average 2 bed old unit are being sold for around 600k mark now. What do you guys think about the prospect for these area?

Thanks in advance.

There are a lot of units about to come online in around the shopping centre at the back near the uni, good highway connections, plenty of employment opportunities in and surrounds.

Has it peaked? Not sure.


Eric

 

[EN710]

Only because of its proximity to Macq Business Park.
Will the recent expansion helped too!

And the types and the placements of stores. Somehow Top Ryde feels a bit disjointed - I like the outdoor area though

 

[almostthere]

And the types and the placements of stores. Somehow Top Ryde feels a bit disjointed - I like the outdoor area though

I feel it the other way round ..I have not been able to get the Maq. center's map still on my head

 

[Mick C]

Great area for CG if you have the cash + financial capability to hold it out for 5+ years ( typical holding cost is $5-6k per year...more for the new high strata units)

A good investment from my point of view..esp for CG. More pro than con.

Con
1. Rental demand ( across the board really in nsw) in this area is still high...but has def slow down in the last 6 month with rent remaining steady.

Pro
1. The macq shopping center has been upgraded and AMP ( AMP bank owns macq shopping center) is set to add other $50m-70m into upgrading it further! - knocking down the west side and adding more shops and offices apparently..

2. More OTP yet to be completed in this area...OTP prices are around $650,000 for a 1 bedroom compared to a old 2 bedroom which is $630-670k so still good value and CG for the older 2 bedder.

3. The new train link for in the epping district will also push prices around it's surrounding areas - ie macq/ west ryde etc..

4. The new commercial redevelopment that's been announced for epping will also have the same ripple effect ^

5. the area has a mixture of good uni/ shops/ transport/ development...it's all happening here

At $600-670k for a 2bed that's roughly the budget for most of Sydney ( around the north west and this area anyway...) so your not really over paying as such ( by far it's not cheap) but at the same time your buying an opportunity for CG.


P.s
- live in the area
- Have an IP in Cheltenham and building 3 x townhouse here.

 

[EN710]

I feel it the other way round ..I have not been able to get the Maq. center's map still on my head

Haha, once you get it, it's really easy - the hard part is that the centre is build for accessibility (wheelchair friendly) so you can get pretty confused on which level is which. The feel of the Mq new store area is a lot nicer than Top Ryde (plus the confusing parking lot in Top Ryde).

@Mick C - $630-$670k was the price of OTP in my complex 2 years ago. Kind of regretting of not jumping for 2 bed now

 

[almostthere]

Great area for CG if you have the cash + financial capability to hold it out for 5+ years ( typical holding cost is $5-6k per year...more for the new high strata units)

A good investment from my point of view..esp for CG. More pro than con.

Con
1. Rental demand ( across the board really in nsw) in this area is still high...but has def slow down in the last 6 month with rent remaining steady.

Pro
1. The macq shopping center has been upgraded and AMP ( AMP bank owns macq shopping center) is set to add other $50m-70m into upgrading it further! - knocking down the west side and adding more shops and offices apparently..

2. More OTP yet to be completed in this area...OTP prices are around $650,000 for a 1 bedroom compared to a old 2 bedroom which is $630-670k so still good value and CG for the older 2 bedder.

3. The new train link for in the epping district will also push prices around it's surrounding areas - ie macq/ west ryde etc..

4. The new commercial redevelopment that's been announced for epping will also have the same ripple effect ^

5. the area has a mixture of good uni/ shops/ transport/ development...it's all happening here

At $600-670k for a 2bed that's roughly the budget for most of Sydney ( around the north west and this area anyway...) so your not really over paying as such ( by far it's not cheap) but at the same time your buying an opportunity for CG.


P.s
- live in the area
- Have an IP in Cheltenham and building 3 x townhouse here.

Many thanks Michael for this comprehensive list..definitely gives me some confidence boost for my plan

 

[Gockie]

If you can buy a townhouse in Macquarie Park or Marsfield you can consider that. I think the price difference between apartments and townhouses are not so different (though you might not quite get as close to Mac centre and train station with a townhouse) so it's a bit of a trade off. But I think they will build many more apartments in the future but the supply of townhouses won't change too much, making townhouses relatively more scarce. Plus you get a courtyard.

 

[almostthere]

If you can buy a townhouse in Macquarie Park or Marsfield you can consider that. I think the price difference between apartments and townhouses are not so different (though you might not quite get as close to Mac centre and train station with a townhouse) so it's a bit of a trade off. But I think they will build many more apartments in the future but the supply of townhouses won't change too much, making townhouses relatively more scarce. Plus you get a courtyard.

You are right. I don't know of any townhouse in Macquarie Park ..plenty in Marsfield...But Marsfield is like 2,3 km from the station so there is a trade off..