Thoughts on Macquarie fields
- Thread starter mitchellp
- Start date
What do you need to know specifically?
Regards
Shahin
Regards
Shahin
google "macquarie fields riots".
Probably unfair, because you could do the same google search on some now trendy areas like Redfern for example. But Redfern is close to the CBD.
All the same, I'd choose somewhere else than MF, for an IP.
Have to say, my personal knowledge about this area is limited. But Australian Property Monitors' Andrew Wilson and Right Property Group's Victor Kumar are both quite positive about the future of this area (selling off of housing commission, some sort of attempt at if not gentrifying then 'bettering' the area in some way).
Unfortunately, a lot of the properties you have to be an owner occupier to purchase I've heard - part of the gvt changes.
Macquarie Links is comparatively quite expensive and in the same postcode, which can make the data read other than what it is...
Unfortunately, a lot of the properties you have to be an owner occupier to purchase I've heard - part of the gvt changes.
Macquarie Links is comparatively quite expensive and in the same postcode, which can make the data read other than what it is...
I have an IP villa in MF and while I haven't owned it for long, haven't had any issues. We had a lot of people turn up to the rental open house and have a small family there now. I also had the same thoughts as others about MF since I lived close'ish 15-20 years ago, but I was surprised to see that there was little graffiti around where our IP is and I am surprised at the number of 'McMansions' going up.... hopefully the Glenfield influence will continue into MF.
While the MF shopping strip isn't fantastic (rundown), I found Glenquarie shopping centre ok - new shops and a big woolies. We found the Crossroads Bunnings close enough to do the 9pm Bunnings run for emergencies as we tidied the place up for rental.
In my villa complex, I am pleased with the number of owner occupiers and the number of people attending the body corporate meetings, I am hoping the complex will keep on the 'straight and narrow' through the ongoing interest of the occupiers.
Like any of the areas where there has been/is currently a stigma with the area, you have to be happy that you can 'sleep at night', it's not just about the price. Drive/walk around the place as there will be good and bad areas of the suburb/area.
While the MF shopping strip isn't fantastic (rundown), I found Glenquarie shopping centre ok - new shops and a big woolies. We found the Crossroads Bunnings close enough to do the 9pm Bunnings run for emergencies as we tidied the place up for rental.
In my villa complex, I am pleased with the number of owner occupiers and the number of people attending the body corporate meetings, I am hoping the complex will keep on the 'straight and narrow' through the ongoing interest of the occupiers.
Like any of the areas where there has been/is currently a stigma with the area, you have to be happy that you can 'sleep at night', it's not just about the price. Drive/walk around the place as there will be good and bad areas of the suburb/area.
google "macquarie fields riots".
Probably unfair, because you could do the same google search on some now trendy areas like Redfern for example. But Redfern is close to the CBD.
All the same, I'd choose somewhere else than MF, for an IP.
Ha ha that reminds me of an email that was going around.
http://i2.photobucket.com/albums/y16/deanlk/gtamf4ml.jpg
Then came
http://photos1.blogger.com/blogger/3431/29/400/gtacronullabeach5ty.jpg
This is where my first IP was (sold since). We bought in 2006 for $185k and sold it 5 years later. Didn't make much on it but didn't lose either. It is not as bad as people make it out to be, we renovated over several weeks and it was quiet, no problems, save for the weekend trail bike escapades of the locals. In 5 years all we've had is a broken window pane once.
Having said that, I would not buy there again as it did make it more difficult to attract quality tenants. We didn't have any major troubles although the last lot did run off without paying 2 weeks of rent.
Also there's two sides to Macquarie Fields. East of Harold St it's almost all housing commission (this is where our IP was), although it is reducing as it's being sold off. Not as much on the other side and generally looks much better and this is reflected in property prices too.
Having said that, I would not buy there again as it did make it more difficult to attract quality tenants. We didn't have any major troubles although the last lot did run off without paying 2 weeks of rent.
Also there's two sides to Macquarie Fields. East of Harold St it's almost all housing commission (this is where our IP was), although it is reducing as it's being sold off. Not as much on the other side and generally looks much better and this is reflected in property prices too.
Thanks for the feedback guys, the property was for a friend but once again someone signed the contract before he could get to it
