Sydney Units <15km CBD
- Thread starter Ebbie
- Start date
Thanks beachgurl, I know of those areas and agree with your comments.
I always hear people recommending the Lower North Shore, the Inner West and the Eastern Suburbs but these are large areas so it's a general statement. As you pointed out with the Eastern Suburbs there are pockets within these areas that aren't so good.
I have a pretty good idea, but would someone like to have a go at listing the more sought after growth suburbs within these 3 areas?
Regards, Ebbie.
I always hear people recommending the Lower North Shore, the Inner West and the Eastern Suburbs but these are large areas so it's a general statement. As you pointed out with the Eastern Suburbs there are pockets within these areas that aren't so good.
I have a pretty good idea, but would someone like to have a go at listing the more sought after growth suburbs within these 3 areas?
Regards, Ebbie.
My picks:
LNS: Crows Nest, Waverton, Wollstonecraft, Naremburn, North Sydney, St Leonards, Artarmon, Lane Cove, McMahons Point/Lavender Bay, Kirribilli, Neutral Bay, Greenwich
East: Bondi, Bronte, Tamarama, Clovelly, Randwick, Coogee, Elizabeth Bay/Potts Point, Woollahra
Sorry but don't know Inner West well enough to comment- ask the local investors on here who can help. Mind you, I've always thought (and still do) that Summer Hill looks good. Nice period homes, near to rail and in the heart of it all.
LNS: Crows Nest, Waverton, Wollstonecraft, Naremburn, North Sydney, St Leonards, Artarmon, Lane Cove, McMahons Point/Lavender Bay, Kirribilli, Neutral Bay, Greenwich
East: Bondi, Bronte, Tamarama, Clovelly, Randwick, Coogee, Elizabeth Bay/Potts Point, Woollahra
Sorry but don't know Inner West well enough to comment- ask the local investors on here who can help. Mind you, I've always thought (and still do) that Summer Hill looks good. Nice period homes, near to rail and in the heart of it all.
Liechardt.
Some interesting picks so far.
http://www.theaustralian.news.com.au/story/0,25197,24079562-2702,00.html
Mr Christopher said his research had found affluent suburbs typically had much higher vacancy rates than affordable suburbs.
The vacancy rate for rental properties in Sydney's affluent lower north shore was 6.5 per cent in June, compared with 1.9 per cent in Sydney's poorer outer western suburbs.
Jacque, what are your thoughts on this recent article that appeared in The Australian:
http://www.theaustralian.news.com.au/story/0,25197,24079562-2702,00.html
Mr Christopher said his research had found affluent suburbs typically had much higher vacancy rates than affordable suburbs.
The vacancy rate for rental properties in Sydney's affluent lower north shore was 6.5 per cent in June, compared with 1.9 per cent in Sydney's poorer outer western suburbs.
I did read this with surprise, however SQM are collating their data quite differently to the REI. I've certainly experienced no problems with vacancies for the investor clients I've had on the NS so far. Perhaps it's a case of landlords inflating their asking rents to the point of ignoring the competition.
Macquarie Park is dominated largely by it's uni, shopping centre and a plethora of student rented units. Personally I think nearby Epping and Killara/Chatswood West are much nicer suburbs, but that's a matter of personal opinion
I had a relative who rented in an old block near the uni and had his car broken into twice and his bike stolen, all from the supposedly secure basement carpark of his building.
Student demand for IP's is strong, but I would recommend you visit the area first to see if it's what you are seeking. As a home owner, I would consider the nearby more family-oriented suburbs.
Thank you very much Jacque,
The problem is my budget is quite tight so area such as Killara, Chatswood are all out of my lead. I'm living in chatswood at the moment but everything is way too much for me.
What do you all think of Glebe? Inner west surburb compared with Mac Park?
In terms of growth, after Macquarie Park has its train up and running next year do you see any price jump from the current level?
I'm looking to buy a 1 bedder to live in first then rent it out as investment. Both area should have no problem renting but the growth i'm not so sure?
THanks again!
Hannah
The problem is my budget is quite tight so area such as Killara, Chatswood are all out of my lead. I'm living in chatswood at the moment but everything is way too much for me.
What do you all think of Glebe? Inner west surburb compared with Mac Park?
In terms of growth, after Macquarie Park has its train up and running next year do you see any price jump from the current level?
I'm looking to buy a 1 bedder to live in first then rent it out as investment. Both area should have no problem renting but the growth i'm not so sure?
THanks again!
Hannah
Hi Hannah
So what's your budget? This will obviously limit your choice, but there are some great value 1bedders out there in many good suburbs.
I like both the Inner West and the Ryde area- both are well located, have good transport hubs and well established infrastructure.
To give you an example of how units in the two suburbs you mention have done growth wise over the last 10 yrs, Glebe has grown a 10 yr average of 7.68% and Macquarie Park 7.60%: both pretty comparable.
So what's your budget? This will obviously limit your choice, but there are some great value 1bedders out there in many good suburbs.
I like both the Inner West and the Ryde area- both are well located, have good transport hubs and well established infrastructure.
To give you an example of how units in the two suburbs you mention have done growth wise over the last 10 yrs, Glebe has grown a 10 yr average of 7.68% and Macquarie Park 7.60%: both pretty comparable.
Here's as good a place as any to ask....
Does anyone know where to get long term data? like CAGR over 20/30/40years?
I'm thinking 10 year average really isn't all that indicative for the long term.
Does anyone know where to get long term data? like CAGR over 20/30/40years?
I'm thinking 10 year average really isn't all that indicative for the long term.
Hi Jacque
My maximum budget is $350k, looking around the market there isnt many available.
Those one that are under $350k usually required some reno to the bathroom, kitchen and carpet.
Main problem i found so far is finding the good layout 1 bedder. Some 1 bedder are cheap however the layout make it very hard to place furniture etc.
It is so hard to find the right one!!
My maximum budget is $350k, looking around the market there isnt many available.
Those one that are under $350k usually required some reno to the bathroom, kitchen and carpet.
Main problem i found so far is finding the good layout 1 bedder. Some 1 bedder are cheap however the layout make it very hard to place furniture etc.
It is so hard to find the right one!!
Yes, it can become frustrating can't it? Most 1bedders tend to be on the small side when it comes to living areas, so you may be better off actually going for an older 2bedder if furniture placement is difficult.
That money won't get you much in Chatswood, unless you're prepared to forgo parking (which I wouldn't).
Have you considered, however, other surrounding suburbs near Epping but still close to rail, however?
Check out Pennant Hills, Thornleigh, West Ryde and Eastwood. Pennant Hills, in particular has some newer units (built approx 2002) advertised at prices some $50-60K below what their owners paid back in 2003. There's even a couple of mortgagee sales floating around, so you may well pick up a bargain.
You've mentioned size and parking, what other criteria do you look for when selecting an apartment?
For example:
- Must have parking.
- 1 bedder min size? (incl or excl balconies?)
- 2 bedder min size? (incl or excl balconies?)
- Must be in complex of less than (50?) units?
- Owner Occupier:Investor ratio?
- Ground floor / top floor?
- Min (40%?) land value?
Any other suggestions?
Any updates to this thread?
Ive been looking for 3br units in Macquarie Park / Marsfield / North Ryde but there is abolutely nothing available thats decent. Mostly 2 bedders .
I've been looking at a place in Epping.. its an older style building but fully renovated, occupies all of top floor - 3br apartment. (Penthouse style) About 160sqm inc garage. About 800m walk to station. $540K - Is this still fair game for a 3br in Epping?
Ive been looking for 3br units in Macquarie Park / Marsfield / North Ryde but there is abolutely nothing available thats decent. Mostly 2 bedders .
I've been looking at a place in Epping.. its an older style building but fully renovated, occupies all of top floor - 3br apartment. (Penthouse style) About 160sqm inc garage. About 800m walk to station. $540K - Is this still fair game for a 3br in Epping?
West Ryde
Ashfield
Kogarah
Summer Hill
Chippendale
Elizabeth Bay
Ashfield
Kogarah
Summer Hill
Chippendale
Elizabeth Bay
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