NSW Buying a Unit: Asquith/Hornsby vs Ryde

Hi All,

I am new to this forum.

I currently live around Hornsby in the NS and plan to buy a 2 bed unit under a budget of $700k-$750k. At the moment, I like it to be around Hornsby (or Asquith) but I see an oversupply of units(especially in Asquith).
On research, I can find 2 bed units around Ryde at a similar price range.( 2 bed <700-750k)

Could someone throw some light on which is a better place to invest. This unit is going to be my first home and school is not a factor for another 3 years.

Thanks,
JP

 

You dont think Ryde is oversupplied why?

 

@Trainee- well it certainly could be. Just that I don't know much about the suburb and hence this post.
If you could share your thoughts on Ryde, it will really help me at this stage ( I am new to the country)

 

In Ryde, unit prices have dropped more than 30 per cent . So may be a good time to buy given it's proximity to the city ?
Having said that Ryde has an oversupply of apartments than Asquith.

I assume it will be your PPOR ?

 

Ryde will always be closer to town, the proposed metro will skirt through Melrose Park to the west, heavy rail at West Ryde, M52 express bus to City and Parramatta.

Good access to Top Ryde/Rhodes/Burwood/Macquarie for shopping, Macquarie University, new/proposed high school.

 

As an eventual PPOR you might also want to consider nearby Meadowbank but like the other 2 suburbs it's also well oversupplied with new units. Some older units in the area were comparatively cheap last time I looked and they were close to the train station, Meadowbank TAFE and some very nice parks/foreshore walk.

 

thanks people for the inputs.

Access is amazing for Ryde, and average for Hornsby.
The only reason in favour of Hornsby I guess is the good Primary & High schools here (Hornsby North , Barker etc.)

 

Yes, this will be a PPOR. Plan to live here for another 2 years minimum

 

Thanks, could you please share why you think Meadowbank will be a better place to invest?

 

Welcome to the forum Captain Cook

I grew up around Asquith / Hornsby. It has transformed dramatically since I was there with high density apartments. They are not really my style of investment as they're a high supply which is easily replicated (new blocks being built), and tend to have expensive strata etc.

Access to the train line is good, as well the area is likely to benefit from the NorthConnex which will remove some congestion and accelerate the commute into the city via car.

Ryde has a tonne of high density apartments too and more coming online. It is however better placed to more things like the Macquarie Park business district and Macquarie Uni, as well as the city.

For me it'd depend on what the priorities are - e.g. as you say good schools vs. better location?

 

Thanks Morgs.

That makes sense, I am a bit worried about investing in Hornsby/Asquith due to the supply side, but it looks like Ryde has it issues too.

Any recommendations for a FHB with a unit under 750k?

P.S: The real Captain Cook isn't me, but my ex-business partner.

 

You can probably answer that by asking yourself where in Sydney do you want to live? You can find something in most areas for $750K even if it is a 1 bed

That said, I personally prefer minimum 2 bedrooms if for (future) investment, as it gives you a wider field of people who are able to afford the rent if they are sharing with a flatmate for instance.

 

I believe Barker College is a Private school, I wouldn't buy up near Hornsby for that reason. You'd be paying $$$ for any child going there.
This link: The School year is divided into four terms

 

That explains the high fences. Very private

 

Hornsby, fantastic shopping centre, you have the benefit of north shore train line and city via Strathfield. Good schools such as Hornsby Girls High, Normanhurst Boys High, plus private schools ... lived in the area for nearly 30 years and found it very convenient.

 

Agree with you there, looking at a 2bedder ideally
Prefer a short commute to the city, though I know its hard with a budget of $750k
Ryde really looks like a great option now

 

Yes, Hornsby is amazing.
At times , I get frustrsted with the train delays in the evening though. Snails through chatswood , gordon to finally get here
Commute is the only reason that makes me look out of Hornsby

 

Also try West Ryde. 2 bedroom units there will be in your budget and West Ryde has easy access to the city and Parramatta.

 

If you can afford Barker, why not? Normanhurst Boys and Hornsby Girls are selective school so being in the catchment is not relevant.

 

that's right