Sydney's best suburb to buy a apartment with high capital gain ?
- Thread starter Montu
- Start date
Sydney's Inner West or Lower North Shore.
With 400K in Inner west & Lower North Shore, i doubt.
Oh ye of little faith!
You just have to know where to look
I just purchased a recently renovated 2brm unit (mid-floor admittedly) in a 3 storey walk-up in Ashfield for under $400K.
Have a look at Alexandria, less than 5kms from the CBD, bordering Redfern, Waterloo and Erskineville.
You might be able to get a 1 BR for that price in this area.
I rented for 4 years (just moved recently) in a 1 BR apartment and while I was there, the rent went from $290/week to $370/week which is pretty good rental growth.
You should always have good rental demand there for professionals wanting to be close to the CBD.
Watch out for complexes that have large body corporate fees though, I think they were over $1000/quarter in my complex.
Darren.
You might be able to get a 1 BR for that price in this area.
I rented for 4 years (just moved recently) in a 1 BR apartment and while I was there, the rent went from $290/week to $370/week which is pretty good rental growth.
You should always have good rental demand there for professionals wanting to be close to the CBD.
Watch out for complexes that have large body corporate fees though, I think they were over $1000/quarter in my complex.
Darren.
Oh ye of little faith!
You just have to know where to look
I just purchased a recently renovated 2brm unit (mid-floor admittedly) in a 3 storey walk-up in Ashfield for under $400K.
Sounds familiar
If you are asking this question and have a timeframe of 5 years, are you sure property is the right option for you? What is your expectation of value in 5 years?
I did say 1 Bedroom which is a step up from a studio (a studio has no self contained bedroom)...but I've never bought a 1BR apartment so the banks might still be stricter. From what I've read, some of them require a minimum floor area otherwise they have a lower LVR (eg. 80%).
I think you might be hard-pressed to find a 1-bedder in Alexandria for under $400K today, but who knows?
My own sentiment is that you'd get better long-term rental demand looking for a 2-bedder a fraction further out but along the south-east corridor (Botany, Arncliffe, Canterbury, etc). They still seem undervalued given their proximity to the CBD to me.
Tempe has recently gone comparatively ballistic (Top 100 pick as I recall in API etc), and it's basically an airport crash-barrier!
CBD-proximity seems to be acquiring its own demand dynamic (who knows why - Sydney highways imitating carparks, immanent peak oil, Gen Y impatience?), but something's going down, I'm sure of it.
NB: Would be very interested to hear Propertunity's thoughts on this seemingly 'up and coming' corrridor?
My own sentiment is that you'd get better long-term rental demand looking for a 2-bedder a fraction further out but along the south-east corridor (Botany, Arncliffe, Canterbury, etc). They still seem undervalued given their proximity to the CBD to me.
Tempe has recently gone comparatively ballistic (Top 100 pick as I recall in API etc), and it's basically an airport crash-barrier!
CBD-proximity seems to be acquiring its own demand dynamic (who knows why - Sydney highways imitating carparks, immanent peak oil, Gen Y impatience?), but something's going down, I'm sure of it.
NB: Would be very interested to hear Propertunity's thoughts on this seemingly 'up and coming' corrridor?
Hi Belbo, thanks for asking
We recently purchased a semi for FHBs in Tempe. Yes, you can almost read the recommended tyre pressures on the wheels of the aircraft as they come in to land BUT:
1. If aircraft noise was a limiting factor in terms of CG, then why is one of the worst affected suburbs, Summer Hill, also one of the best CG performers?
2. Noise only lasts a fraction of a minute before it passes.
3. The SYD curfew means no noise from 11:00pm to 6:00am
4. For those properties affected, the govt. has already forked out for ceiling insulation and double glazing.
5. The new generation of aircraft have more efficient and quieter engines.
So, the suburbs in this corridor are really undergoing gentrification. There are renos happening everywhere you look. If you look at the census data you will also see a lot of high income earners moving into the area. On top of that it is very affordable. You can pick up a renovators delight for under $600K.
It's all about transport (which is good), proximity to the CBD and airport (for frequent flying business people), and coffee / cafes which are in abundance.
Rockdale is fine but I'd stay way from the new high-rise developments and stick to older property that you can add value to and is close to transport.
Thanks for the insights, Prop. Very good points about technology starting to mitigate noise effects (fresh food for thought there), and you'll get no argument from me on how wonder Summer Hill is. (Indeed, still almost kicking myself for not buying my PPOR there 7 or so yrs ago.)
It's unloved duckling, Campsie, seems to be really roaring along too these days - as I began to suspect around 6 yrs ago it would. Just too close to the city to remain unloved for long! (My Chinese office manager quit 6 mths ago to become an R/E agent there servicing the O/S Chinese buyers who love what Chinese developers are building there. Luckily, I found another Chinese office manager - even more diligent than him - on the last day of interviewing!)
My own next great call is Arncliffe. Perfectly situated between flight paths, hilly outlook, large blocks, character-filled reno delights everywhere, and just Lebanese enough to be off the radar still for yuppies. But with such fantastic transport links to the city and airport, and 5-minute only major shopping and beach proximity, it's a sleeping giant. I'd give it 5 yrs max to double in median price.
What say you, Prop? Any special vote for sleepy old Arncliffe in your books?
Disclaimer: I'm just guessing, people! Don't ever invest because someone on SS claimed to have spotted a sleeping giant (as it could turn out to be just a steaming pile the giant left behind on his way to somewhere else.)
It's unloved duckling, Campsie, seems to be really roaring along too these days - as I began to suspect around 6 yrs ago it would.
Just too close to the city to remain unloved for long! (My Chinese office manager quit 6 mths ago to become an R/E agent there servicing the O/S Chinese buyers who love what Chinese developers are building there. Luckily, I found another Chinese office manager - even more diligent than him - on the last day of interviewing!)My own next great call is Arncliffe. Perfectly situated between flight paths, hilly outlook, large blocks, character-filled reno delights everywhere, and just Lebanese enough to be off the radar still for yuppies. But with such fantastic transport links to the city and airport, and 5-minute only major shopping and beach proximity, it's a sleeping giant. I'd give it 5 yrs max to double in median price.
What say you, Prop? Any special vote for sleepy old Arncliffe in your books?
Disclaimer: I'm just guessing, people! Don't ever invest because someone on SS claimed to have spotted a sleeping giant (as it could turn out to be just a steaming pile the giant left behind on his way to somewhere else.
)
LNS is only going to net you a 1 bedder or studio for that budget. Then again you can always consider sacrificing criteria such as parking and position to get into the market at under $400K. Decent 2 bedders in this area start from mid $500Ks realistically. Lane Cove would be worth a look (predominantly Mowbray Rd side) as would the cheaper units in Wollstonecraft (most often Shirley Rd, Bay Rd etc) or if going further afield from rail transport, consider Cammeray/Mosman side. The key is finding something in a well kept complex as not all OCs are equal.
Further info in this can be found here
http://www.airservicesaustralia.com...ms/waypoint/2011/presentations/ken_morton.pdf
The noise footprint of this aircraft (which Qantas has a heap on order) is quite remarkable.
Furthermore noise sharing, traffic distribution and the re-opening of the crossing runway also makes noise affected area's of the inner west just a little more bearable.
Hi guys,
I'm wondering if you could clear some things up for me. I've recently started taking a more serious look at property. Over the past few days, I've been looking around the North Sydney area at 1bd apartments and location wise, it seems pretty good to me. It's close to the city, has good transport, decent shopping, etc. However, looking at the past capital gains, it looks pretty flat. Is there any particular reason for this?
I'm wondering if you could clear some things up for me. I've recently started taking a more serious look at property. Over the past few days, I've been looking around the North Sydney area at 1bd apartments and location wise, it seems pretty good to me. It's close to the city, has good transport, decent shopping, etc. However, looking at the past capital gains, it looks pretty flat. Is there any particular reason for this?
