Sydney Units <15km CBD

[see_change]

We've just bought and renovated two units in Mosman .

No problems renting.

One bedder rented on first day . Two bedder rented within one week .

There does seem to be more vacancies in the upper market but we're not in that area.

Cliff

 

[troyhunt]

We've just bought and renovated two units in Mosman .

How are you finding prices holding up at that end of the Mosman market?

 

[Tash_85]

West Ryde
Ashfield
Kogarah
Summer Hill
Chippendale
Elizabeth Bay

summer Hill is very unlikely. You would be able to get a 1 bedder, but for 2 bedder is closer to 400k+


Elizabeth Bay? I also wish!

 

[jimmyjim]

Inner West - Leichhardt, Annandale, Glebe, Newtown, Erskineville

 

[BV]

Perhaps it's a case of landlords inflating their asking rents to the point of ignoring the competition.

Yes it's due to unrealistic expectations.
Landlords were getting paid high rents until now because of the rental shortage and the unofficial rental bidding that was taking place and they haven't adjusted to reality yet.

 

[sydsider]

We've just bought and renovated two units in Mosman .

No problems renting.

One bedder rented on first day . Two bedder rented within one week .

There does seem to be more vacancies in the upper market but we're not in that area.

Cliff

Hi see_change

What sort of return are you getting on your Mosman units? I'm also looking in the Mosman/Cremorne/Crows Nest area for a 2 bedroom unit. Any suggestion on which streets to go for or to avoid? I read elsewhere on the forum someone is getting 6% gross on their Mosman unit, but from the ones I saw you'd be lucky to get 5%! A recent rental search on Domain for 2 bedroom units came up with 77 listings! Does that suggest a high vacancy rate or am I wrong?

 

[black dragon]

http://www.sqmresearch.com.au/graphs/graph_vacancy.php?postcode=2088&t=1

Here is the latest Vacancy rate chart on Mosman.

Not that healthy re: the vacancy rates. Indeed its been getting slowly worse as is also the case with a number of other "affluent suburbs."

This all said, totally agreed that the upper end is the part of the market taking the beating.

Off memory, unit prices in Mosman havn't exactly shot the lights out over the last 10 years. I think the figure is just 4% compounded, which, if I am right is under the city wide average for the same period.

 

[auror]

Liechardt.

I wouldn't call Leichhardt undervalued... I know this is an old thread but even so, Leichhardt has not been undervalued for a few years!

I've been actively looking in the inner west and have been thinking of venturing out towards the western suburbs...

 

[Ajax]

Auburn?

Just meets the criteria of 15km from cbd...and a lot closer than that to Parramatta cbd

http://www.realestate.com.au/cgi-bi...r=&cc=&c=67204319&s=nsw&snf=ras&tm=1251859305

 

[JustRent]

Rental demand is strong anywhere with those desirable 'lifestyle' factors, and close to transport.
The inner west is always in high demand due to its close proximity to the city and abundance of those 'lifestyle' factors. Eg cafes, pubs, markets etc.

I would suggest looking for smaller unit blocks, as renters tend to prefer this style of housing.