Woolloomooloo

[Nikolina]

Hi guys,

Just wondering what are your thoughts on woolloomooloo? Ive been looking at purchasing an IP their (apartment). Im not too familar with the area can anyone raise any good and bad points about the suburb?

Thanks
Nika

 

[rodimus]

what type of property are u looking to buy there?

Woollommooloo is a very nice suburb, right next to Sydney city. It is walking distance to Hyde Park, George St, Kings Cross, city.

 

[Nikolina]

what type of property are u looking to buy there?

Woollommooloo is a very nice suburb, right next to Sydney city. It is walking distance to Hyde Park, George St, Kings Cross, city.

Im looking at buying an one bedroom apartment. Ive looked at myrp and have noticed that the median price for an unit hasd ropped significantly since 2006.

 

[Morgs]

If you're not familiar with the area there is alot of housing estate, just make sure its not in the vicinity...

Neighbouring suburbs (Potts point/Elizabeth Bay etc) are very popular, good demand etc & we've done well there over the years

 

[luvvit]

Morgs if the price was right I would buy there. but a wee disclaimer... I worked in W'mooloo for a couple of years, and boy did we have dramas with the local hoods (average age 11yrs old) and the housing commission at the top of the street. and I wouldn't update my car for years because anything nice parked on the street got a "seeing to" by the locals....

That notwithstanding, there's a lot to like about the 'loo, just do your DD and make sure you be careful with the streets directly behind the Shell Servo. Lots of people lurve the easy access to the city....

my 2c

Luvvit

 

[sports fan]

be carefull you dont step on a needle

 

[paramount]

Property in Triabunna in Tassie is offering 7%++ return with govt guarantee for 10 years

 

[Fuzzboy]

Nika,

I just purchased an IP in Elizabeth Bay (right near Woolloomooloo). While there is a lot of public housing you can pick up units that have a very high gross yield circa around 6-6.5%. But keep in mind future capital growth can be volatile in these areas. So it all depends on your appetite for risk, if you see values increasing there in the coming years then go for it.

But if your looking for something a bit 'safer' i would look at Elizabeth Bay and Potts Point, but the trade off will be you have to pay more than you would in Woolloomooloo. But you should still be able to get a good yield (5-6%) in these areas depending on the building.

Fuzz