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NSW Glebe/Pyrmont vs Waterloo/Alexandria vs Newtown

Discussion in 'Where to Buy' started by King, 6th Jul, 2015.

  1. King

    King Active Member

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    I started a thread in SS so i thought ill start another one here again since ive got more questions to ask.

    In terms of land and capital appreciation which one of these suburbs would be better to invest in?

    Glebe/Pyrmont - close and walking distance to city but is there any further developments that will increase the capital growth?

    Waterloo/Alexandria - still has got housing commission around the area and might be growing more since development is always expanding outwards?

    Newtown - Hipster town. Though always congested and busy but its quite a hot spot for the youngsters? will they develop the place further? wider road and such?
     
  2. Biz

    Biz Well-Known Member

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    Do you mean apartments or houses?

    If it is apartments I would steer clear of Alexandria and Waterloo because there is a lot coming onto the market there.
     
  3. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    I looked at aparments at 17 Greek street Glebe about 3 months ago .
    49 sqm 1 bedroom with parking 550k it was sold.

    I see its back on the market for 610k !!!!!
    Simebodys cashing in !!!!
     
  4. King

    King Active Member

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    hey all. confirming looking for a house :)
     
  5. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Glebe area is rising fast .
    Obviuosly Redern is another potential.

    Waterloo around Mc evoy streets has the big housing department although that doesnt seem to be deterring people.
    I personally would go around Redfern railway station.
     
  6. Bwinny

    Bwinny Member

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    What sort of budget are you aiming for houses in these areas now? I am completely out of touch with prices as they are changing so quickly this last 12 months.
     
  7. Biz

    Biz Well-Known Member

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    For a house you can buy in any of those suburbs really. Alexandria has probably moved the most in the last 5 years but they are all good. Can you handle the yield though? Only be looking at about 2.5%
     
  8. Chilliblue

    Chilliblue Well-Known Member

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    Everything being equal my preference lean towards Glebe and Newtown
     
  9. vtt

    vtt Well-Known Member

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    Just over one year ago myself and hubby bought a two bed terrace in Glebe. Good street, rear lane access close to the shops but not close to the housing commission area. It is a beautiful house with all of the good bits (eg. original fireplace, ceiling rose, original front facade) and several of the bad bits (dodgy plaster, a bathroom attached to the kitchen and some electrical work that must have been done by someone that was legally blind).

    At the time we thought the price we paid was absolutely ridiculously high. In hindsight, it was not as it has easily increased by 15-20% since then and we had not done anything to it. We are now doing a cosmetic renovation and we anticipate this adding at least another 10% to the value.

    Anyway this is a long winded way of saying that Glebe is a great area, easy transport links, nice leafy streets (some better than others) and if you look carefully you'll see quite a bit of renovation work being done to houses so the area is becoming more upmarket and less 'grunge'. I see Glebe as becoming the Paddington of the Inner West over the next 15-20 years.

    Newtown is also a great spot but imho is currently overpriced.

    vtt
    :D
     
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  10. Biz

    Biz Well-Known Member

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    Nice work vtt.

    Guys, honestly I have been studying these areas for over 10 years. I would be amazed if anyone who held a terrace house for at least 12 months in any suburb with 4km of the city had lost money in that time. They just don't go down. Provided you buy something that is structurally ok you won't lose.

    The killer is trying to hold them because the yields are awful but if you can offset it with some other postive cashflow property or have a high income it's a no brainer.
     
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  11. Magnet

    Magnet Well-Known Member

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    From working in both Newtown and Redfern for the last 19 years I would say;
    Redfern, Newtown, Glebe in that order. No so keen on the others. I would look at Stanmore above all. Some good places to Reno and add value there. Still convenient to everything cafe society and the city. I know it's moved significantly though, not sure how much puff left.
     
  12. vtt

    vtt Well-Known Member

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    King have you looked at Darlington? It has really gone bananas over the last 18 months but there's still more growth to come as the suburb becomes gentrified. It reminds me of how Newtown was about 20 years ago. Lots of nice housing stock there with potential (read: needs renovating).

    vtt
    :D
     
  13. larrylarry

    larrylarry Well-Known Member

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    Any of those areas always good if you can hold them long term. I used to rent in Chippendale in around 97 and the area was terrible. I think I left 50 cents in my console exposed and car broken into. Pretty unsafe to walk around in the evening. Fast forward and now the apartments are gold. And if you have a house...wowser!
     
  14. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I'll second (or third) Redfern and Darlington. Darlington is nice and quiet but wedged between Redfern and Chippendale. Close to Sydney uni and walking distance to Newtown and Redfern Station. Its not so well known, but it is just there, being quiet. It won't get the highrise anything, just nice terraces in a quiet but handy neighbourhood. Redfern on the other hand is much busier. If you like busy, Redfern is good.

    Ditto Glebe and Newtown. Happening areas. I'd stick to these areas I mentioned. Not so keen on any of the other locations.

    Now, if I was going apartment I'd throw in Chippendale too cause its a very handy location near Central station and the unis amd the new Central Park development. It's just not a place you'd find so many houses. Also, I feel over time Sydney city is going to expand southwards so what is currently considered on the edge of the city will become "in the city".... it will be a few years but give it time...
     
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  15. King

    King Active Member

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    hey all! thanks for all the responses!! really gives me good insight base on your opinions and being in the market.

    @vtt i had a look at darlington but it was simply too pricey. its much more expensive than the other areas I've mentioned.

    another place Im interested in is around the green square area. next bondi they say?
     
  16. Magnet

    Magnet Well-Known Member

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    Nope, more like traffic congestion nightmare without a beach!
     
  17. Mick C

    Mick C Well-Known Member

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  18. TyroneS

    TyroneS Well-Known Member

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    That doesn't make sense as after paying duties and property related fees, they're not going to be left with much. They may even be at a loss with the costs of selling in NSW..

    I reckon they're selling because they have personal stuff to deal with... that's my opinion.
     
  19. Biz

    Biz Well-Known Member

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    Another thing to consider is buying inner city is a very street by street proposition. All real estate is like that but inner city even more so. Some streets have parking and wide while others run parrallel to busy roads or are very narrow with no parking. Close proximity to a park is also a bonus. Prices can differ by a couple of hundred thousand depending on what is close by.

    Again though, you could buy anywhere and do well. I used to avoid the places in Newtown for example that were opposite or behind the rail line but everything went up up up and away.
     
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  20. Gavin1985

    Gavin1985 Member

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    Glebe has all the new stock coming from Harold park. Pyrmont, especially down the water end of harris street has been recently development (jacksons landing - last 15 years) and will remain that way for a long time to come