Hi All, Any suggestions for meadowbank. I am looking at the other side of the train station which doesn't have much of high rise. I am a FHB and can easily afford property worth 600k. I am planning to live there. What I like 1. Got school, tafe, train station,ferry 2. Close to Strathfield and eventually city as I work in city Please share your thoughts Regards, -Mukul
Aldi is now closed unfortunately but agree it is a great area with everything to offer and love living there!
My recommendation is avoid the FHOG the $10,000 grant is not worth it considering that you have to buy new apartment regardless of high rise or low rise or a land house package. They are both vastly oversupplied at that price range between 600k-750k. Recommendation is to buy an older style walk up with a larger share of the land south of West Ryde station area. 1/6 - 1/8 of a land holding is much better.
10 years ago ~650k would have got you a house in the area. Now ~550k gets you a 2br apartment. What I like - * The bike path to Parramatta * The bike path to Rhodes and Olympic Park * It’s good for transport. I don’t know how you’ll go for future capital growth but I guess the newer apartments would be bought by a different demographic to the older ones.
I was just in the 'loop' this week where the older walk-up apartments are. Fundementally its a great spot, yet it doesn't seem to stack up for me. The buildings are all aging & there are 20+ 2 bedroom properties currently looking for tenants. The returns are relatively poor (the apartments rent from $380 - $440) due to the new stock nearby, hence I think there is a ceiling on any capital growth, when any does come around. If I wanted to live in the area, I would personally rent something, save on council/strata rates, and look to rentvest elsewhere.
Thanks - I am not there for grant. I am not looking for one of those new properties anyways. What apeals to me is the location and accessability.
like what areas you wuld prefer to invest? i live in macquarie park and have been looking into the areas around. Every area has its own pros and cons ;-(
I'm more familiar with areas closer to the city/east, although with $600k it would maybe be a 1brm in an area with limited supply but closer to the city. I think with the softer market you could get one in the Inner West somewhere near cafes & transport, especially with renovation potential.