Ryde and North Ryde- NSW
- Thread starter rodimus
- Start date
Haven't looked in detail at North Ryde as far as yields go, but I think anywhere near the new train station / mac centre / mac uni will always have a strong rental demand (or is that actually classed as Marsfield ?)
Also the Macquarie Park business area is attracting some high profile companies.
Optus is building a massive campus there to be completed in a couple of years.
Also the Macquarie Park business area is attracting some high profile companies.
Optus is building a massive campus there to be completed in a couple of years.
There are units for sale for less than 300k closer to the city .
Cammeray has places under 300K , though I don't know how they compare with the units in North Ryde.
See Change
Cammeray has places under 300K , though I don't know how they compare with the units in North Ryde.
See Change
sydneycider said:
Sydneycider . Shhhhhh....
Have been watching that area . Prices have gone back about 15 % ( 10 % last year , 5 % this year) in the last two years which is much the same as the rest of the North Shore. So despite having good fundamental reasons to go forwards, it's gone backwards.
For me that is a classic example of , regardless of how good the fundamentals / new infrastructure of an area is , you need to get your timing right.
Yes , sure it will be good in the long term and after the rest of Sydney stopped in late 2003 , parts of Ryde continued to move forward strongly with some fairly frantic bidding from people keen not to miss out. There was nothing under 700 in one area I watch , where as now low 6's is the bottom asking price and several properties have been sitting on the market for quite a few months
.*sigh*
But remember the next cycle will ( probably ) start in Sydney ( as it always has ) so ( outside WA which is still moving
) it will probably be one of the earlier places to see good growth in the next cycle.See Change
Seems that prices havejust shot up since the train station opened.
Early this year we were looking at several 3br townhouses/villas in Macquarie Park and Marsfield for around 540-560k.
Looking now theres very little stock.. and if there is its all in the mid 600s.
Will Marsfield/North Ryde be affordable again!? Doesnt look good
Early this year we were looking at several 3br townhouses/villas in Macquarie Park and Marsfield for around 540-560k.
Looking now theres very little stock.. and if there is its all in the mid 600s.
Will Marsfield/North Ryde be affordable again!? Doesnt look good
I bought a 2 bedder in Macquarie park in April 2008, 6 months before the train station opened. Bought it for $378 000 and seems to have gone up after it opened to around $400 000. I just put tenants in there with 6 months rent in advance (uni students). Also just bought one in West ryde as I believe that this area will go up due to now having better access to Chatswood/north shore/city thanks to the rail line. Next one will be Meadowbank I believe. You can still find cheap ones in Mac Park, just need to look everyday as they go quick.
I think this is in line with price rises in most areas in the lower market . There is strong demand in the FHOB range and those are in that .
We've looked in the area over the last few months , but couldn't find anything that gave better value than what we bought in Mosman .
Cliff
We've looked in the area over the last few months , but couldn't find anything that gave better value than what we bought in Mosman .
Cliff
I think you bought pretty well
Thanks for that comment. I'm pretty happy and the current value is conservative. It's at 31 Fontenoy Road. The other one was a renovated 2 bedder in West Ryde for $320 000 with lock up garage & internal laundry. Current rent is $375/week. I love the area but I'm trying to spread the purchasing to other areas.
Really? Cheapest place I can see on domain.com.au is $335k, another at $369k and then we're north of $400k. Or are you talking negotiated price?
The Shopping Centre is being extended quite a bit late next year to include another 100 odd speciality retailers, a David Jones and heaps more parking.
Will they help matters at all for Macquarie Centre?
Will they help matters at all for Macquarie Centre?
Does anybody need any more proof that holding property over time is a great investment?
Doh! Damn old threads!
