Hey guys, interested to hear your thoughts about Maroubra in Sydney. Possibly the next Bondi? or already overheated?
Haha you're a bit late to the party, but I think it will always do well with the shops and the beach nearby. It's still in high demand.
Don't see any problem, especially if you look at it in long term. Demand will always be there in that area!
haha. Yeah of course it's already booming over there! however... might still have some way to go considering it is considered less desirable than both Coogee and Bondi (as well as Northern Beaches areas)
My work takes me around Maroubra, the fundamentals are there (transport, shops, schools, beach) but there's lot of Housing units and houses in the area. Do your DD and you should be sweet if you're investing for the longer term.
It was kinda weird that I saw the median house prices in my neck of the woods (Eastwood/Epping) around a year ago was about the same as the prices in Maroubra. I'm out in the 'burbs, Maroubra has the beach.... maybe the reputation of the 'Bra boys kinda made it a bit undesired?
Maroubra is awesome, it's got it all: express buses to the city, wonderful beach, great facilities, Pacific square is a great shopping centre and the Westfield east gardens is just around the corner. Express buses to the city in peak hours, all night buses to the junction. Premium location a few kms from the CBD with the awesomeness of the beach and the surf. The beach is very family friendly too. All the American streets were there used to be housing commission are being redeveloped one by one in small luxury unit complexes. UNSW is so close too. It already is a premium location. Not as much as Bondi is, but certainly a premium in the Eastern suburbs. It has come so far though. Anyone with any kind of "trauma" about the suburb clearly has not been there for a long long time (or ever!). You can't go wrong with Maroubra IMO.
In terms of Bondi, its over with mate. Bought a few 2 bed units in the area 2.5 years ago for 590k, 550k and 580k. Now all around 870k-920k. That boat has passed . Maroubra you may be able to find cheaper stock but you need to be careful of large unit developments. Much of Sydney if not all of it is over with for now.
I live not far from carlingford, Eastwood and Epping. The prices are through the roof and traffic will be a huge problem in 12 months time. The appetite is relentless. The ripple effect is now seen in Telopea, Ermington, dundas and Rydalmere.
My work colleague bought a house in Dundas when no one else wanted to because of the reputation. She does have a crazy neighbor next door but other than that she has almost paid off her loan off and has around 800k worth of equity to play with.
Its a great area for development... everybody is getting rid of the old housing and putting higher density stuff on the big blocks. Its a bit forgotten about by a lot of people but its so close to Epping, Eastwood, Carlingford and Parramatta of course it will go up.
I completely agree because I think her land is around 800sqm which is excellent and I have told her she should consider getting it revalued.
I think that the heavy rail won't happen because they have opted for the North West rail line to go through Cherrybrook instead, but there are other plans for light rail between Parramatta and Macquarie and I think these proposals have a much higher likelihood of going ahead http://www.parracity.nsw.gov.au/wor...nsport_problems/light_rail_for_western_sydney Edit: I've just done a bit more reading... you're right @larrylarry, it may go through Carlingford. However I wouldn't be counting your chickens though just yet, they are still just proposals and anything could happen. https://transportsydney.wordpress.com/tag/parramatta-light-rail/
I like parts of Dundas and it has been pointed out that there are some good sized blocks. Is is a backwater for trains as there's only a terminating single line (3rd world standard). I should've gone with my gut ages ago and picked up some of the shops around Yates as they're due to be bulldozed.
leo - i dont think bondi junction is that much overpriced at the moment. there are heaps of overpriced suburbs around the north shore in sydney which are way more than prices in bondi junction from what i am seeing.. i think bondi junction is still reasonably priced and has room to move.
