Thoughts on Petersham

Hi there,

We are currently considering buying our first PPOR with the intention of turning it into an IP a little down the track.

We have our eyes set on the Inner West and would be interested to know of any opinions/experiences about Petersham?

How familiar are you with the inner west?

What is your budget? Do you need off street parking? It's a bit of a rarity in the inner western suburbs ,expect to pay quite a bit more for the garage.

Stanmore/Petersham/Newtown is my dream PPOR suburb but prices have risen 10-15% in the last year.
Not asking anyone where I should live :)

Currently living in the inner west and loving it, however given I am in inexperienced in the IP world I was wondering if it made send to invest in Petersham.

Petersham is relatively pricey compared to other suburbs in the Inner West (e.g. Dulwich Hill or MArrickville).

However as we will be living in it a few years, does it make sense to pay a high price for a property if we are going to invest it later on, are prices more likely to stagnate than in other "cheaper" suburbs?
I don't think its wise to hold back on the PPOR you really need because you will turn it into an IP down the track. Buy what you need that you can still afford comfortably i say.

As for prices, I dont think anyone could confidently tell you any of the suburbs around it will do better or worse. I think anything around that way is a good buy investment wise.
If I were looking in the area (and I'm not), I'd probably lean more towards Lewisham. Less aircraft noise and what I'd imagine would be a light rail / city rail interchange. See the recent announcements about the light rail extension.