West Ryde
- Thread starter wwwqi
- Start date
I looked into west ryde last week breifly.
very hard to find something at that price - lot of old 70's units, and new stuff, there is a lot advertised in serviced apartments there as well.
Should provide you with good return and growth particulary when the new train station is completed
very hard to find something at that price - lot of old 70's units, and new stuff, there is a lot advertised in serviced apartments there as well.
Should provide you with good return and growth particulary when the new train station is completed
I don't remember there being many serviced apartments in west ryde... and new train station? west ryde has had one for years...
Anyways
West Ryde is great - W/Ryde Village has just been completed which has cleaned up that area so much - with Top Ryde Shopping opening and proximity to ferrys & train line I think it will always have great demand.
BTW if you check our RPDATA top 50 growth suburbs W/Ryde units are in there
good luck
Anyways
West Ryde is great - W/Ryde Village has just been completed which has cleaned up that area so much - with Top Ryde Shopping opening and proximity to ferrys & train line I think it will always have great demand.
BTW if you check our RPDATA top 50 growth suburbs W/Ryde units are in there
good luck
You are correct...
I got West Ryde mixed up with North Ryde - new station and serviced apartments there
I bought a tiny 2 brm unit in Meadowbank for 90k.....now is valued for 260k. But it is only 50sqm.
West Ryde and Meadowbank are goers as there is new infrastructure being planned and it is in the cheapest area in the Northern surburbs. Meadowbank is the best value water based suburb in Sydney in my opinion.
Cheers
Sash
West Ryde and Meadowbank are goers as there is new infrastructure being planned and it is in the cheapest area in the Northern surburbs. Meadowbank is the best value water based suburb in Sydney in my opinion.
Cheers
Sash
Do you have any information on the new infrastructure (other than Top Ryde)?
Mainly:
1. The new top Ryde shopping centre and the associated employment it will bring.
2. NAB, HP, Nestle and others all ready in the Rhodes business park.
3. Meadowbank foreshore is nearly all built out!
4. Ferry Wharf at Meadowbank already upgraded
Once the train North Ryde train line opens it will get a boost it it is cheap area to commute to Chatwood and North Ryde business parks via Epping rather than going the long way via City.
Also, govt mentioned something about additional bus and ferries to alleviate train congestion.
Cheers,
Sash
1. The new top Ryde shopping centre and the associated employment it will bring.
2. NAB, HP, Nestle and others all ready in the Rhodes business park.
3. Meadowbank foreshore is nearly all built out!
4. Ferry Wharf at Meadowbank already upgraded
Once the train North Ryde train line opens it will get a boost it it is cheap area to commute to Chatwood and North Ryde business parks via Epping rather than going the long way via City.
Also, govt mentioned something about additional bus and ferries to alleviate train congestion.
Cheers,
Sash
reasons for west ryde
Hi Troyhunt
I've decided on West Ryde as I see it having the lowest median unit prices compared to meadowbank and eastwood, north ryde and other surrounding suburbs. Also as everyone else has mentioned because of the train station already there and all cleaned up, plus the Top Ryde shopping mall.
sounds like a goer from everyone's positive comments!
thanks all!
Hi Troyhunt
I've decided on West Ryde as I see it having the lowest median unit prices compared to meadowbank and eastwood, north ryde and other surrounding suburbs. Also as everyone else has mentioned because of the train station already there and all cleaned up, plus the Top Ryde shopping mall.
sounds like a goer from everyone's positive comments!
thanks all!
I'm intrigued by West Ryde as I've worked there for a number of years now but haven't had much more than a cursory glance IP wise. Just going through the numbers, I thought you might find these interesting:
RP Data Strata Titled Units History (Medians):
Eastwood:
2000 $225,000
2001 $280,000
2002 $310,000
2003 $317,000
2004 $331,825
2005 $325,000
2006 $336,000
2007 $355,000
2008 $379,000
Meadowbank:
2000 $179,000
2001 $225,000
2002 $422,500
2003 $300,000
2004 $288,800
2005 $375,000
2006 $380,000
2007 $405,000
2008 $341,250
West Ryde
2000 $210,000
2001 $248,000
2002 $286,000
2003 $335,000
2004 $324,250
2005 $303,750
2006 $293,000
2007 $314,500
2008 $316,000
WR and Eastwood both had medians about $330k in 04 but since then Eastwood has continued going up while WR has gone down then rebounded a little and it's now nearly $40k under Eastwood. Meadowbank is a little more erratic but really came off the boil last year. It would be interesting to identify what caused these trends. All three have volumes of 150+ annually so enough to be reasonably confident in the data.
The Fin Review yesterday had a piece on historical and projected one year price changes for units. The prediction for WR and Eastwood is -6% over 2009. Meadowbank wasn't listed but given the same postcode as WR and the proximity it's fairly safe bet it's going to do similar.
Interestingly, there were only 6 suburbs identified with projected growth of 5% or more being Botany, Mascot, Fairfield, Cabramatta, Penshurst and Mortdale. The most positive "cluster" I could see was the Fairfield area which includes Guildford (3%), Merrylands (4%) and Granville (4%).
Although the infrastructure you mentioned will be positive for the area, I'm just not convinced it will be positive enough to have a significant enough impact on prices. The new Top Ryde will be great but it replaces the old Top Ryde so it's an improvement as opposed to totally new investment. The other initiatives in the area are again, positive, but will they be enough to really influence prices?
Anyway, all just food for thought, all the best and please share your results.
RP Data Strata Titled Units History (Medians):
Eastwood:
2000 $225,000
2001 $280,000
2002 $310,000
2003 $317,000
2004 $331,825
2005 $325,000
2006 $336,000
2007 $355,000
2008 $379,000
Meadowbank:
2000 $179,000
2001 $225,000
2002 $422,500
2003 $300,000
2004 $288,800
2005 $375,000
2006 $380,000
2007 $405,000
2008 $341,250
West Ryde
2000 $210,000
2001 $248,000
2002 $286,000
2003 $335,000
2004 $324,250
2005 $303,750
2006 $293,000
2007 $314,500
2008 $316,000
WR and Eastwood both had medians about $330k in 04 but since then Eastwood has continued going up while WR has gone down then rebounded a little and it's now nearly $40k under Eastwood. Meadowbank is a little more erratic but really came off the boil last year. It would be interesting to identify what caused these trends. All three have volumes of 150+ annually so enough to be reasonably confident in the data.
The Fin Review yesterday had a piece on historical and projected one year price changes for units. The prediction for WR and Eastwood is -6% over 2009. Meadowbank wasn't listed but given the same postcode as WR and the proximity it's fairly safe bet it's going to do similar.
Interestingly, there were only 6 suburbs identified with projected growth of 5% or more being Botany, Mascot, Fairfield, Cabramatta, Penshurst and Mortdale. The most positive "cluster" I could see was the Fairfield area which includes Guildford (3%), Merrylands (4%) and Granville (4%).
Although the infrastructure you mentioned will be positive for the area, I'm just not convinced it will be positive enough to have a significant enough impact on prices. The new Top Ryde will be great but it replaces the old Top Ryde so it's an improvement as opposed to totally new investment. The other initiatives in the area are again, positive, but will they be enough to really influence prices?
Anyway, all just food for thought, all the best and please share your results.
Meadowbank sales data really affected by the newish and ongoing development
Now, I am rather inexperienced and what I'm about to say is just my opinion and based on my own experience. so feel free to correct me.
Generally speaking after 2003, most suburbs bucked the trend and took a small dive after the boom.
Eastwood did slightly, but recovered quickly because......
Grocery shopping in Eastwood is superb. Asians love it. The shopping area and train station and bus stop are very closely packed together so it's convenient for the commuters. As usual, this drives the median price up as more asians start to buy into Eastwood.
WR also bucked the trend but.....
West Ryde on the other hand has its shopping area and small shops quite spread out with a few residential buildings in between. Also the veges and meats aren't as fresh or as cheap as you can find in Eastwood. Hence in my mind it's less popular.
This seems to be an argument against WR, does it not?
I have lived in the area for 20 years. While West Ryde was purely just a train station, woolworths and some crappy victoria rd shops, Eastwood was a mecca for asian groceries, the plaza, restaurants.
Eastwood had a nice feel to it, generally wealthier demographic, where as west ryde was the ugly cousin.
I feel West Ryde is in a better location and with the updated shops and meadowbank going well right next to it, I think you have good potential for some catching up. The downfall will be the quality of the houses, and streetscapes as denistone & eastwood are filled with trees.
I don't think you can go wrong in any of the areas mentioned.
Eastwood had a nice feel to it, generally wealthier demographic, where as west ryde was the ugly cousin.
I feel West Ryde is in a better location and with the updated shops and meadowbank going well right next to it, I think you have good potential for some catching up. The downfall will be the quality of the houses, and streetscapes as denistone & eastwood are filled with trees.
I don't think you can go wrong in any of the areas mentioned.
