Nice Suburbs in Sydney around $700k

[Gaj]

Hi All,

I'm not from Sydney and I was wondering if you could please provide some advice on some nice suburbs in Sydney that are good value at the moment?

Although this is initially for an investment, some time in the future I may need to live in it. I would prefer a house around the $700k range.

I've been looking in Forestville and have found a couple of good examples:

http://www.homehound.com.au/listing/index.php?id=8316276
http://www.homehound.com.au/listing/index.php?id=8204876

I know there isn't a train line but apparently the buses are quite good and Forestville is supposed to be a nice area.

Other areas that I'm interested in include Beecroft which seems like a nice leafy area. They have a train line going through there as well.

My friend mentioned that Eastwood and Epping may be good areas too. Epping may be good because there is a new train line going through the area soon.

Any advice would be appreciated.

Thanks,
Gaj

 

[ziggy2214]

Gaj
There are many nice suburbs but
considering that this will be your PPOR
I think you'll need to write down your personal requirements
and then choose a property based on those

 

[virgo]

Beecroft

Hiya

I live in Pennant Hllls, just next to Beecroft. Beecroft is very nice (altho i much prefer the next suburb Cheltenham). It is only 2 stations to Epping, for which the new line to Chatswood is starting next month.

It also has one of the top (public) schools in Sydney , Cheltenham girls high and you need to be in the catchment area ....Beecroft Public school with its gifted program is reputedly one of the best primary schools in sydney too...

Beecroft is very leafy and quiet with its own little village of shops clustered around the train station. Epping and Eastwood are busier with a large Asian (Chinese and Korean) population, great Chinese restaurants in Eastwood and grocery shopping...

cheers
jenn

 

[PrimeCommercial]

I live in the north west of sydney so I dont know other areas very well but the Northern Beaches (read Manly to Mona Vale) seem to have good potential. Also the area around Arncliff/Rockdale/Kograh (careful of aircraft noise). The Marrickville/Dulwhich Hill (again be careful of aircrate noise). You caould also try new development in Ermington but I'm not sure whether $700 will get you anything there.

 

[Collector]

Other suburbs that have a good reputation:

Oatley
Oatlands
Lindfield
East Ryde

 

[Pogi]

Don't forget Killara, Gordon, Wahroonga, and Frenchs Forest.

 

[Gaj]

Hi All,

Thanks for the advice everyone, it is fantastic.

Pogi - Just wondering if "Killara, Gordon, Wahroonga, and Frenchs Forest." would be in my price range?

Whenever I look in these areas, the prices seem above my budget.

Thanks,
Gaj

 

[asdf]

Hi All,

Thanks for the advice everyone, it is fantastic.

Pogi - Just wondering if "Killara, Gordon, Wahroonga, and Frenchs Forest." would be in my price range?

Whenever I look in these areas, the prices seem above my budget.

Thanks,
Gaj

Definitely not the first three. They all start with a $1, even in this environment. Maybe FF but thats holding its own too. You might find one for low $7s but will probably need to spend another $50k to make it liveable, $150-$200k to add another room/ensuite and general makeover. The problem with your price range is that a lot of new families are also looking to move out to those areas. Just have a look at the number of prams within 5km of CBD in the higher density areas and doesn't take a rocket scientist to work out that the gradual progression as the family grows is to move out to such leafier areas.

 

[Witzl]

Depending on what you require from living in Sydney.... the Hills District is a nice area, and definitely within your price range.

The downside with the hills (castle hill, baulkham hills, cherrybrook, west pennant hills etc) is the lack of a train line. However, there is an excellent bus service that goes down the M2 to the city, and there is plenty of employment in the nearby Norwest business district, and Castle Towers is right on your doorstep.

I am biased though - i live in the Hills.
However a lot of families do agree with me. House sales in Castle Hill at the moment are moving along quite nicely. It's a VERY popular family area.

 

[Orks]

Do you have to have a house?

For $700-800k you could get a decent 3 bed or very good 2 bed apartment in one of the really premium suburbs of Sydney like Bronte, Clovelly, Rose Bay, Coogee, North Bondi etc.

Here's a 3 bed 2 car park place, in North Bondi, looks over the Royal Sydney golf course to the harbour, 5 mins walk to the beach, bus to CBD on doorstep, a better bet as an investment than a place in Pennant Hills i'd say.

http://www.realestate.com.au/cgi-bi...r=&cc=&c=78678609&s=nsw&snf=rbs&tm=1233108655

 

[Witzl]

a better bet as an investment than a place in Pennant Hills i'd say.

Why do you say that? Im interested to learn why
never looked at those areas at all.

 

[Jacque]

Hi Gaj

$700K isn't much for the north shore, Forestville included. Anything freestanding in a decent street is going to cost you more than this. Then again, it does depend on the features (beds, baths, car spaces, land size, yard, age of building etc) you want, your own level of fussiness and your specific needs (walk to transport, shops, catchment area for particular schools etc).

I'd second Witzl's recommendation of the Hills (in particular those suburbs in close proximity to CBD and Parra transport routes inc Castle Hill, Baulkham Hills, Cherrybrook, West Pennant Hills, Winston Hills, Northmead, North Rocks and parts of Kellyville) and also some of the northern suburbs in the Hornsby region. Parts of Beecroft are lovely, and other parts are pretty ordinary (Carlingford border) but anything within walking distance to the station is going to set you back more than $700K. Current median is approx $880K so that gives you an idea of what you're up for. Also be aware that there's lots of bushy streets, so termite protection is a must.

Further up the line, you've got Pennant Hills, Thornleigh, Normanhurst, Westleigh- lots of older houses but also newer builds and duplexes that may well suit if you're keen on being near a railway line. You really need to come and check out places for yourself first before making any firm decisions.

Rentals in the Hills are great at the moment- not enough stock and more demand, especially for well kept newer homes close to everything. You certainly won't have a problem renting out.

 

[see_change]

You'd probably get something in Wahroonga , further from the stations . South side , Campbell Pde or down near the fox valley shops. 70's house in around bush . Very nice relaxing.

Cliff

 

[Ajax]

What about West Pymble?

http://www.realestate.com.au/cgi-bi...r=&cc=&c=36907931&s=nsw&snf=rbs&tm=1233147361

http://www.realestate.com.au/cgi-bi...r=&cc=&c=89181258&s=nsw&snf=rbs&tm=1233147611

http://www.realestate.com.au/cgi-bi...r=&cc=&c=89181258&s=nsw&snf=rbs&tm=1233147611

Note the last property is close to bushland...and some houses in West Pymble can be threatened by bushfires.

 

[Pogi]

Hi All,

Thanks for the advice everyone, it is fantastic.

Pogi - Just wondering if "Killara, Gordon, Wahroonga, and Frenchs Forest." would be in my price range?

Whenever I look in these areas, the prices seem above my budget.

Thanks,
Gaj

Whoops, sorry! I didn't realise that you were after a house.

Wahroonga isn't too bad, starting from $700k though. Frenchs Forest would be a nice choice.

 

[awesome wells]

I'm with the guy who said "eastern suburbs apartment". Could also be "North Shore apartment".

I think Frenchs Forest is over valued. Middle of nowhere. For public transport you need to get a bus from Chatswood station. Narraweena is close by, but closer to the Beach, and cheaper.

Caringbah is under valued at the moment. It's miles behind Cronulla prices and only a suburb back. Has public transport. Rednecks a bit of a problem though.

Jannali also has potential. Train to the city in 30 mins.

Oyster bay off the beaten track but you can get a good home there for $700.

 

[Jacque]

So many investors still believe that "property closest to the city" will always outperform... a well used and tired line that simply is no longer true, in our ever changing and expanding cities. Sure, the eastern suburbs, lower north shore and inner west have experienced growth and returns but are not necessarily always better performers than the middle (and even outer) ring suburbs of Sydney, some of those mentioned here already.

Just look up the historical cap growth rates and you'll begin to see what I mean. For example, Castle Hill houses have outperformed Bondi units over the last 10 yrs with an average cg of 8.6% compared to Bondi's 7%.
And even just comparing units with units (which are traditionally lower than freestanding housing) Randwick has averaged 6.7% in the last decade compared to the northern suburb Epping at 7.1% (Source: Residex)

I'm not suggesting that you only consider cg rates as the sole factor when making your decision on where to invest, but let's equal the playing the field by considering areas outside of the traditional so-called "blue chip" suburbs. There's so much more to Sydney than just the eastern suburbs and north shore!

 

[Witzl]

I totally agree with Jacque.
Sydney is a city that is now sprawling out so far that you have more "regional" employment CBDs, like Parramatta, Norwest, Erskine Park (industrial/warehousing).....

... the old "gotta be close to the CBD to get CG" line is indeed quite tired, and regularly disproven.

You could even use a suburb like Colyton or St Marys in the outer west of sydney as a prime example - even with their recent price corrections, their 10 year average CG is quite high.
I dont use residex (never tried)... but using the RPdata free suburb profiles you can do your own calcs.

http://www.myrp.com.au/showProductDetail.do?reportTypeId=1&propertyId=

 

[awesome wells]

So many investors still believe that "property closest to the city" will always outperform...

Not what the thread is about.

 

[see_change]

Hi guys

The reason some off those places mentioned out performed inner areas is that in the time frame mention , The cycle was well and truly underway in the more centrally located areas , while areas further out , the Hills , Colyton , St Mary's the last cycle didn't start till later so more of the last cycle growth occured in the last ten years .

Again if you compare the ten years figures for sydney with Brisbane you'll find they're lower for the same reason .

Any one who has been on this forum for long enough should be able to recall similar figures ffloating around in 2000- 2003 which showed Sydney had higher 10 year growth rates than Brisbane etc.

Most of Colytons and St marys growth in the last cycle occured in the last ten years, while some of the growth in more centrally located areas occured prior to the last ten years.

Of all the places mentioned so far , the place I'd go for is West Pymble . It's centrally located next to the inner cycle of Ryde Rd , as well the commenarra parkway which gets gives you an alternative local major road. It's close to Pacific Hwy . It has a good bus service to the railway . ( Sorry Jaques , but many people in Sydney do like the train , just because you don't have one... but then again 5 acres makes up for that ) .

The West Pymble shops are a good set of shops , with plenty of parking . There is a very good local school in west pymble which has a good community spirit , and if you move in to the area with young kids , will be a good way to get to know people.

It has good sporting and parklands in the area and if I was moving into the area again ( we live in Wahroonga , but bough our first house in Golfers Pde Pymble ) west pymble would be one area I'd watch VERY closely .

Cliff