Hello everyone,
We are looking to the Syndey market for our first investment. We would like to hear of anyone who has invested in Sydney in 2007 and is doing well.
What are your thoughts on the Sydney market and what type of dwelling eg Units/apartments close to the CBD or houses but further away from the CBD?
Thanks for your help
Rich Mum
Hi Rich Mum,
And you need to be rich to invest in Sydney!My pick is Chatswood. Its still very safe and has limited unit and house supply. It also has a westfield and the train station has almost completed its expansion with the Chatswood – Epping link. There are other commecial developments such as a new council building and auditorium. I get the feeling Willoughby council has some $$$.
Its a very family and student orientated place.
I decent house is $800k – $1.3M and a decent 2Br Unit is about $500k.
I did a realestate.com search the other week and it returned about 7 or so pages for Chatswood. 5 or so of those pages were new unit releases around the area and only 2 for established houses/units up for sale. Its a tight market.
My other options would be any other of the train line locations between North Syd and up to (and excluding) St Leonards are quite nice as well. I would exclude St Leonards and Artarmin.
There is also a lot of development just on the south side of the CBD but Im not overly familiar with that area (ie Wolli Creek, Green Square and (yes) Redfern).
I hope this helps!
RM, median house prices in Chatswood are about $1M (slightly cheaper is Lane Cove but with better access to motorways). There are a few 1950's /60's brick houses in Lane Cove West in the $800's.
Some good buys around Epping, North or East Ryde but must be accessible to the new railway station (to open late 08-09 ish, like everything NSW it gets delayed, cut down & costs more). N/E Ryde being the cheapest alternatives (also close to Macquarie Uni – big student base, new medical training school & facilities/pvt hospital, a couple of well established hotels & high-tech industrial facilities).
Anyone have thoughts/opinions on Sans Souci area south of Syd. It was mentioned in Money or personal investor mag i think. A bit more affordable than areas above.
Its got a good vibe (drive through it every day). Overlooks industry which is on the bay. I think there is fear of the leeching of checmicals eventually making into the bay and then you may not be able to swim there anymore. So i'd look for more info around this to be comfortable.
Some of the surrounding suburbs are a bit rough as well (well rougher than the northern ones but not Mac Fields rough!).
Defintately due for reno/development of some upper market appts (most look like 70s/80s unit style living).
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