NSW Best Suburb for Capital Growth in Syd Inner West

Would be interested to see what suburb(s) in Sydney’s Inner West that people see as having the best growth prospects in the short, medium, and long term, and whether these differ based off the time frames? Looking in the 1.5-1.8 mil space.

 

IMHO the ones most positively impacted by the Westconnex.

Looking back at the Lane Cove tunnel project that happened a decade back (I can't remember how long exactly - I'm getting old), and see how the property prices were affected by that. Now extrapolate to what's hapenning to westconnex.

I personally like the Balmain peninsular - it has that small town/village feel; but i'm afriad your stated budget is incompatible with that area currently.

Unrelated to westconnex, Pyrmont. I haven't looked much into it personally; but if Barangaroo is sporting the most expensive penthouse high rise apartment in the southern hemisphere, surely nearby Pyrmont would rise up to the challenge and develop some luxury high end apartments to meet the challenge and drag up the property values around there as well.

 

I think Marrackville has a lot going for it (not withstanding the aircraft noise). Good public transport, close to ammenities, and a gentrifying scene of brewries etc where industry once stood.

 

On that basis Ashfield and Strathfield then as they both have openings into the new tunnel.

 

Yeh, we're actually living in Balmain at the moment. I think you can probably get a smaller landed house/semi at the upper end of our range at 1.8mil, but thought I'd spread out a bit. Just bought an IP rozelle peninsula side late last year.

Should have probably mentioned that I have a leaning to landed over apartments. Does pyrmont have landed?

 

Anyone punting the Kingsford airport to close or convert to domestic alone and the new badgery Creek to take over. Flight paths may change?

Pretty interested in marrickville too. Anyone know which parts of marrickville tend to be good. Seems to be sandwiched in between a few stations

 

With that budget we're seeing value in parts of Rozelle and Lilyfield. You can get 2 bed terrace or even detached houses with scope for a 3rd bedroom on a floor plan rework and even another bathroom. The Balmain peninsual itself has gone crazy so I would say the spill over to the south side of Victoria road won't be far away. Anything guiding 1.8 in Balmain is now selling for 2.1-2.3 or even higher. Frankly, the guides are a waste of time in this market anyway.

- Andrew

 

Yeh, the price difference between last year and now is crazy. If they get the balmain leagues development up, and like you said spillover, the south side should pick up. I already feel like it has. Any thoughts on the spaghetti network that is the West Connex under it?Seems not to be affecting buyer confidence too much at the moment, but markets FOMO-ing hard so.

 

I can't see Kingsford closing or even becoming domestic only. Badgerys creek will simply be another Avalon or Toowomba type thing.
Best case it becomes the next Narita to Haneda relationahip, but it wont reduce traffic into Kingsford.

Its also so close to the westerly runway that any flightpath ammendments wont make a difference. Still, every suburb has its negatives vs positives and Marackville has plenty of the latter imo

 

I don't think any affect at all to be honest. If anything the market is viewing that as a positive in due course, depsite some traffic issues in the short term.

Yes, unfortunately for buyers the price has increased significantly recently. I was warning some people sitting on the fence late last year that prices would explode in the first half of this year but I don't think anyone was quite expected what it's turned into.

- Andrew

 

Marrickville and Ashfield - gentrifying and still within that price range.

 

Mmm. Any particular parts of marrickville? Not too knowledgeable to the area but seems its sandwiched between several stations. There areas, which are a bit of a no go?

 

Yeah, glad that managed to snag something at the end of last year. Wondering whether its worth biting for another or has the ship sailed

 

Some bits of Marrickville are really a long way from town/station. St Peters and Sydenham have good amenity (Sydney Park, Westconnex access) with Syd metro in full swing and General Gordon Hotel under refurbishment, plus all the Marrickville goodies on doorstep. Aircraft noise is the downside in all these areas, but I actually think noise level can be greater in suburbs where the approaching aircraft are higher (Leichhardt) - and therefore haven’t fully powered down. Can be very different 100m either side of a flight path to directly beneath.

 

This. Some parts of Marrickville are so far from anything, why would you pay a premium? If you have to jump in a car anyway, I'd rather go one suburb over and save a few hundred thousand.

 

Which neighbouring suburbs are you referring to?

 

Dulwich Hill, Canterbury etc.

 

Mm, didn't think of St Peters. It's gotten a lot of bad rep with the traffic, construction and cracking with tunnelling. And the large unsightly smoke stacks.

 

So going further west.

 

Yeah, but given how fast the new Metro will be, you're only ever like a 5 min ride away from the heart of Marrickville. Probably faster to catch a Metro from Canterbury than to walk from the fringes of Marrickville.