NSW Meadowbank

Discussion in 'Where to Buy' started by mukul m, 7th Mar, 2019.

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  1. mukul m

    mukul m Active Member

    Joined:
    7th Aug, 2018
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    Location:
    sydney
    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
     
    almostthere likes this.
  2. almostthere

    almostthere Well-Known Member

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    Location:
    Sydney
    It's pretty decent area with everything nearby.
    Aldi is within a walking distance.
     
  3. Bwinny

    Bwinny Well-Known Member

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    Aldi is now closed unfortunately but agree it is a great area with everything to offer and love living there!
     
    mukul m likes this.
  4. KevinJ

    KevinJ Well-Known Member

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    Location:
    Sydney
    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.
     
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  5. Gockie

    Gockie Life is good ☺️ Premium Member

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    Location:
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    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.
     
    mukul m likes this.
  6. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    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.
     
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  7. mukul m

    mukul m Active Member

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    7th Aug, 2018
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    Location:
    sydney
    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.
     
  8. mukul m

    mukul m Active Member

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    Location:
    sydney
    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 ;-(
     
  9. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    Location:
    Sydney
    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.
     
    Rowan likes this.