postcode 2114 and 2137

A

alpina

anyone have an opinion on meadowbank and mortlake.

lots of development happening around mortlake - areas like breakfast pt and cabarita countinue to blow me away for its like a twilight zone with million dollar houses (some twice that) in an area that doesnt seem to have gentrified to suit its new residents.

meadowbank is another similar one - currently dropping $700k plus apartments (about 650 in the development - ranging from mid $4's to $1.2mill) in an area that is essentially commercial/industrial - i understand that there is a new found appreciation for water views in the western suburbs but are these prices purely speculative? on a plus, meadowbank has ferries, trains, buses, schools etc all within walking distance and a big commercial/retail development coming up in the next few years - also ryde and putney, practically next door with much higher median prices

funny how not so long ago areas like rhodes (nearby) was frowned upon for its contaminated land - wish i bought then :)

surely millionairre residents will force with cleaning up of the place, in a manner not disimilar to kings x and darlinghurst? or is the reality that these areas are overpriced and that people with this sort of money, should simply look elsewhere?

julie
 
Gday

I live at 2113 and cycle through 2114 to get to Olympic park. I noticed the big development at Meadowbank near Ryde Bridge. I looked it up on the net and its called something like Faraday Parades. I emailed the agent about prices and when i got them i initially thought it was overpriced. There are umpteen stages of the development some of which wont be completed until 2005 i think( i deleted the email with the details). Anyway i think with the property market most likely going no where for 3 or 4 years (especially investment units) there is more money to be made elsewhere. Nonetheless Meadowbank is very well served by amenities such as the train and ferry and long term it will increase as the industrial/commercial aspect of the suburb is overshadowed by more residential areas. I cant comment on Mortlake.

Pele.
 
Originally posted by alpina
anyone have an opinion on meadowbank and mortlake.

julie
Click to expand...

Hi Alpina

If I'm not familiar with the name of a suburb I consider it to be in woop woop.

In fact I consider anything west of the Sydney Harbour Bridge as woop woop. South is ok, north is good, east of it is even better, but west is woop woop.

Sorry I haven't given any help here.

In fact I don't even know why I'm typing this post. I guess I'm abit bored tonight. :)

Investor
 
That development near Ryde bridge is in Faraday Park on the old Siemens Plessey site and sits very conveniently between the railway station and the ferry (Rivercat) wharf. Buses are right there too.

Meadowbank Park and Ryde Parramatta golf course creat a nice green belt between the river and Victoria Rd and the cycleway along the river is handy. The view is hardly spectacular though.

Woolworths are redeveloping the West Ryde site which is only 1 station away.

All that said I think that although the new development will pull values up for appartments in the surrounding area, the development is overpriced. Absolute min is >$300k for a 1 bed ground floor, courtyard outlook. Older apartments 100m away on the other side of the railway line have all the same convenient features and although prices are much lower than the new dev, they are still not great value.

Not sure how much effect the large dev at Rhodes will have on values but I've been told that the retail space will be pretty big- largest Ikea store in the Southern Hemisphere.
 
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