I have been looking for terraces house in the inner west in Sydney if you look in marrickville,Tempe, etc these areas are about 100k less for a terrace house than in similar close suburbs like newtown,annandale,Alexandria etc but do others feel that these areas have already taken off ?
Where else close to the city do people feel that will take off ? 2bed two,1bath,on219sqm in marrickville sold for 240k
Sorry mistyped at the end then it was a 2bed terrace house 2bath on 219sqm for 540k in marrickville.
and for the same thing in Newtown would cost 700kI read that first post and though $240k!!!! Wow!!! I must be looking at the wrong properties.
I'm far from an expert on the areas but I'm slowly getting to know them.
What are your plans with the property? Is it buy and hold for a lengthy duration or will you sell in a short time frame?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie M I read what i had written and thought wow thats cheap and realised i mistyped!!!.
What i have seen over the last few years is that Marrickville and Tempe have come up a lot from what they were and are quite abit cheaper than surrounding suburbs there are reasons for this of course i mean tempe was known as (TEMPE TIP) for a long time.
These areas are changing and have good capital growth and easy to rent and a reasonable amount as well.
And Marrickville is changing too the middle eastern community is moving out and families and investors are buying in these areas.What i plan to do is buy a 2bed 2bath terrace house in marrickville or Tempe that needs light renovations for between 530k and 550k.
Tenant it and keep it for a few years and see how the market is in 5 years time and i will buy other investment properties in the same area.You wait in a few years prices will be close to the other surrounding suburbs that took off years ago so now is the time to buy
but this is my opinion others may not agree everyone has there own perspective
Basicaly i will buy now while these areas are cheap and the economy is not so good and when they have gained in value and market picks up i will sell. Bye the time that happens these areas would have gained in value like surrounding suburb in the inner west
I live only a few suburbs away from these areas and believe that a lot of the difference in value (compared to adjacent suburbs) is due to much of these suburbs being directly under the flight paths.
However, I’m sure there are good pockets and the values are improving as the areas are tidied up.
wadiman wrote:I live only a few suburbs away from these areas and believe that a lot of the difference in value (compared to adjacent suburbs) is due to much of these suburbs being directly under the flight paths. However, I'm sure there are good pockets and the values are improving as the areas are tidied up.A friend has lived in Stanmore for 25 years. Staying there is unbearable due to the flight path (if you reached for the sky you can nearly touch the underbelly of every plane), talking on the phone, you have to stop and pull the phone away from your ear for a minute, talk again for a minute, then repeat, every single minute. Thank goodness for those that persist in living in the inner-west, it does stop after 11pm with curfew.
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