Hi All,
Happy New Year! Partner and I are preparing/researching for a purchase in 2014 in Sydney. We're both a bit vanilla with Sydney having only moved here from Melbourne (1 x IP in North Melbourne) in April 2013.
Similar to our North Melbourne property, looking for a property to initially live in as a PPOR (~3 years) and then later convert to IP to add to our portfolio. Slow way to build wealth I know but we like living in our own place.
We currently live in Waterloo in a 2/2/1 apartment and enjoy the area so have been looking around Waterloo, East and Surrounds. What we love about the area is access to CBD, Cafes/Bars (Surry Hills, etc) and also the Beach (Coogee/Maroubra).
Budget of around $800k would be ideal and following the market through mid to end of 2013, it would appear that a House would be out of the question in any of these areas, including the inner west. Sad but guess we're also buying at the top end of the market in the areas we like.
On that basis, preference would be for a Townhouse but they are either rare or again over our budget. We've seen some Apartments in larger complex's that would be similar size to a Townhouse which have caught our eye.
We'd like to avoid Zetland as there are just too many high rises built in the area and whilst close to the CBD and ultimately most affordable, it just doesn't have that 'homely' feeling walking the streets if that makes sense.
North Rosebery has caught our eye and I've read the development proposal for gentrification in and around that area. The North Rosebery precinct is situated between the Epsom Park precinct to the north and the Rosebery Estate to the south and is within the Green Square Urban Renewal Area. It is generally bounded by Epsom Road, Dalmeny Avenue, Kimberley Grove and
Rothschild Avenue.
What I like about it is distance to CBD (6kms), good public transport access, still close to beaches, CBD, cafe's/bars and it appears at this stage to not be a Zetland like suburb although its still rather industrial/raw (kind of like parts of North Melbourne I guess). Planning seems to want to keep buildings to no more than 7 stories high with green areas proposed throughout. Obviously there's some big developments currently underway such as Otto and mature developments like Artise already in the area.
Does anybody have any local knowledge or feedback on the area. Interested in peoples general thoughts but also comments on flight path, future CG and future rent potential looking.
Alternatively, suggestions for areas to investigate would also be appreciated.
As mentioned, looking for something we can live in for 3 years or so and then rent out and move on.
Cheers.
Happy New Year! Partner and I are preparing/researching for a purchase in 2014 in Sydney. We're both a bit vanilla with Sydney having only moved here from Melbourne (1 x IP in North Melbourne) in April 2013.
Similar to our North Melbourne property, looking for a property to initially live in as a PPOR (~3 years) and then later convert to IP to add to our portfolio. Slow way to build wealth I know but we like living in our own place.
We currently live in Waterloo in a 2/2/1 apartment and enjoy the area so have been looking around Waterloo, East and Surrounds. What we love about the area is access to CBD, Cafes/Bars (Surry Hills, etc) and also the Beach (Coogee/Maroubra).
Budget of around $800k would be ideal and following the market through mid to end of 2013, it would appear that a House would be out of the question in any of these areas, including the inner west. Sad but guess we're also buying at the top end of the market in the areas we like.
On that basis, preference would be for a Townhouse but they are either rare or again over our budget. We've seen some Apartments in larger complex's that would be similar size to a Townhouse which have caught our eye.
We'd like to avoid Zetland as there are just too many high rises built in the area and whilst close to the CBD and ultimately most affordable, it just doesn't have that 'homely' feeling walking the streets if that makes sense.
North Rosebery has caught our eye and I've read the development proposal for gentrification in and around that area. The North Rosebery precinct is situated between the Epsom Park precinct to the north and the Rosebery Estate to the south and is within the Green Square Urban Renewal Area. It is generally bounded by Epsom Road, Dalmeny Avenue, Kimberley Grove and
Rothschild Avenue.
What I like about it is distance to CBD (6kms), good public transport access, still close to beaches, CBD, cafe's/bars and it appears at this stage to not be a Zetland like suburb although its still rather industrial/raw (kind of like parts of North Melbourne I guess). Planning seems to want to keep buildings to no more than 7 stories high with green areas proposed throughout. Obviously there's some big developments currently underway such as Otto and mature developments like Artise already in the area.
Does anybody have any local knowledge or feedback on the area. Interested in peoples general thoughts but also comments on flight path, future CG and future rent potential looking.
Alternatively, suggestions for areas to investigate would also be appreciated.
As mentioned, looking for something we can live in for 3 years or so and then rent out and move on.
Cheers.