NSW If you Must buy Apartments in Sydney

I think the real estate definition now extends past rookwood. Tbf the inner west line starts at parramatta

 

i didnt live in sydney when the "gentrification" of redfern started.. but i was given the impression plenty of land and property in redfern was "government owned/partly owned" and housing commision was in redfern, easier to sell and move people out compared to lakemba which is majority now privately owned ?

this arguement is so true..agents media, developr and to a certian extend.. councils.. love this.

where does inner west end.

where does the term northern suburbs end.

where does sydney end.

50km ?
100km is still considered sydney ?

hey australia is not alone.. but still.

 

Dee Why for me

Great beach itself with numerous other within walking distance or a short drive, serviced by express busses to the CBD, improvements to Pittwater Rd/Creation of Dee Why Town Centre, new developments such as the Lighthouse by Meriton bringing much needed commercial and high end retail space.

Can see flat or some negative movement over the next 12 to 24 months with lots of developments coming online however once all the supply has been taken up and the remaining development sites are completed, I see prices holding well and increasing as the town centre improvements are completed.

 

What about the Rouse Hill region? I have been to the town center and it was awesome.
The Sydney metro will open there next year and I actually have my eyes set on a 2 bedder unit about 400 meters away from the station for 698k.

Then I came across an agent who told me that the whole priority precinct thing is a whole lot of bull and the proximity to the station is no big deal. He has a 3 bedroom house at Quakers Hill about 2.6km away from the QH station for 699.9k. The land is huge too, I think it was something like 563 sqm.

I must say that made me hesitate a little. Chances are the house price might double or triple in the future, but I am pretty sure I am probably not going to be alive to witness it happen. What do you guys think about it?

 

$698K for a two bedder in Rouse Hill? What a rip off IMHO

 

Care to elaborate? I am extremely keen to hear this before I have to sign any contracts. It is not too late for me to back out with my EOI fees now. Cheers.

 

Go for the house.....

 

My concerns with QH is the waiting period before I can actually witness a decent growth in the property price for that house. It is far away from the station and there is not much in QH to begin with.

In Rouse Hill, there are infrastructures (shopping mall, grocery store, entertainment, cafes, restaurants, etc) to draw young professionals from places like Norwest Business Park and Sydney Business Park. Yeah, there are people who prefer to live where they work, but there are also people to live just a few stations down for a change in scenery.

Please don't get me wrong, I am not implying that RH is better than QH. I am looking for something that I can rent out quickly. 3 bedroom house is most likely not in young professional's radar--what are they going to do with the extra room? rent it to some student from the college or the university nearby? As a first home buyer, I could totally be thinking in the wrong direction as well

QH House: 46 Tallagandra Drive, Quakers Hill NSW 2763 - House For Sale | Domain

RH apartment: 1 Rouse Road, Rouse Hill, NSW 2155 - Apartment for Sale #126222058 - realestate.com.au

 

How are the public schools over there?

 

I would rather buy an old 2 bedder in Ryde, West Ryde, Meadowbank, Gladesville or Epping than paying only a slightly less amount, or may be even equal, for a new place 25kms (or more?) further away. Next to train station doesn’t mean much when you are that far off already. I would rather be close to bus stops in Ryde for example. My thinking.

How abt Westmead ay? Still much closer.

 

Lol Sydney is such a parallel universe at times

 

Most public schools on the North Shore are well regarded.

St Johns, Pittwater House, St Lukes, Curl Curl Public, Collaroy Plateau Public, Alambie Heights Public are all within walking distance and highly rated. Dee Why Public is rated average

 

So.... why buy the 2 br unit in Rouse Hill? I doubt you'll see growth on that unless you wait a heck of a long time.....
You know you can buy 2 br apartments at a similar price much closer into the city?

You could alternatively buy a good 1 br apartment that's a walk to the city for about that much.

Not going to say any of them will have any capital growth in the next 7 years or so, but at least they are located better?

 

You can get a 2 bedder in the likes of Ashfield or Dulwich Hill for under 700k now, probably quite a bit less if you wait a while. I wouldn't touch an apartment in Rouse Hill personally

 

Lack of scarcity and far away from the city are the biggest issues. Like a few have mentioned, there are properties much closer for the similar amount. Since its a new build it will likely to depreciate significantly in the near future. You will be lucky to be able keep the value you purchase it for in the next 5 to 7 years TBH.

 

No

 

Redfern isn't 400k

 

The conversation was about why Redfern gentrified (went from being a troubled area to being trendy) and the poster said Lakemba could gentrify too. Redfern is about 3km to the city... Lakemba isn't. Redfern has housing commission but it also has a lot of city professionals wanting to live there for the convenience factor (easy 2 stop train ride to work or walk into the middle of the city in 40 minutes....) you can have a night out in the city and the transport home is easy.... Businesses and restaurants have popped up to cater for that market in the local area and it has become trendy.

Just with the distance to the city I have my doubts that Lakemba has the same potential for gentrification that Redfern has.

 

A similar process will happen. Of course it will never get as high but it will eventually get to where it should be considering distance

 

I think most of Sydney has hit peak gentrification TBH (for the foreseeable future anyway)