NSW Sydney 1BR+study / 2BR PPOR near CBD <700k. Where?

Discussion in 'Where to Buy' started by dab91, 31st May, 2018.

Join Australia's most dynamic and respected property investment community
  1. dab91

    dab91 Member

    Joined:
    6th Jun, 2017
    Posts:
    6
    Location:
    Sydney
    Hi all,

    Young DINK couple looking to buy a first home in Sydney and looking for some advice.
    Ideally we want to purchase something as close to the 650k no stamp-duty sweet spot for first home buyers but can afford a bit more than this. We both work in the city and a short commute is an important factor.

    Leaning towards older walk-up brick apartment blocks with no amenities to reduce strata costs etc.
    Does anyone have any suggestions around what areas to look in for the above requirements?

    ATM looking around Dulwich Hill area, seems to be some reasonably priced 2bed apts around Myra road. I think this area may benefit from the upgrade of the Bankstown train line to Metro. Is anyone particularly familiar with this area? Why does it seem to be cheaper than the rest of Dulwich Hill?

    Would love to buy on the lower north shore however 650-700k doesn't get you anywhere near as much up there :(

    Any other areas I should be looking? Am a bit off the Green Square / Zetland area (seemingly as are a lot of the posters on here)
     
  2. chylld

    chylld Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,701
    Location:
    Sydney
  3. Illusivedreams

    Illusivedreams Well-Known Member

    Joined:
    3rd Oct, 2017
    Posts:
    2,454
    Location:
    Sydney
    I love Zetland having lived their and hold investment in Zetland.
    Issues is Not a lot of older stock.

    So most apartment buildings are newer type with Lifts and pools and higher strata. We pay $1390 but our apartment is huge 110SQm +multiple out door areas and Higher price than your budget.

    A lot of Australians also don't yet understand high density leaving so in some ways are against it. If done well creates huge opportunities.

    Having lived in a few places and travel to China I can see high density is the future if current migration trend continues.
    Also Zetland may not be a good investment but a great place to live. My wife walked into the city was a 55 minute walk maybe 1 hour. We used to walk to Crown street and on weekends Fox studios. UNSW is 30 minute walk. I work in SW Sydney so M5 was very important and Zetland makes that really easy .

    But main issue you need $1,000,000 for a nicer 2 bedder in Zetland. So its simply out of the given price range.
     
  4. Illusivedreams

    Illusivedreams Well-Known Member

    Joined:
    3rd Oct, 2017
    Posts:
    2,454
    Location:
    Sydney
  5. chylld

    chylld Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,701
    Location:
    Sydney
    I prefer the term "cosy" :p

    See if they're within OP's parameters given that 1bed+study was also an option.
     
  6. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,736
    Location:
    Sydney
    Just going off the ads I'd take Glebe probably (but I haven't been in it). I think it's a walkup with a lot of levels though (so lots of stair climbing that could get annoying!) and no car space. At least it seems to have a nice view, lots of sunlight, good location (easy to get to the city) and a north facing outlook.
     
  7. Jamesaurus

    Jamesaurus Well-Known Member

    Joined:
    18th Dec, 2017
    Posts:
    439
    Location:
    Canberra
    Bit depressing that those are going to be 650k... glebe looks like a housing commission structure (I've seen the building in the flesh.. wouldn't feel safe around there at night). Centennial I think a better buy if I had to choose.. a great location but would prefer less units in the block still (and no lift to pay for)!
     
  8. mqowner

    mqowner New Member

    Joined:
    13th Jul, 2018
    Posts:
    1
    Location:
    Macquarie Park NSW 2113
    Do you want to buy directly from the owner so that you can reduce the price? Do you want to buy a unit in Macquarie Park NSW? The price is good for First Home Buyer. It is around $608,000.
     
  9. neK

    neK Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,842
    Location:
    Sydney
    Why not look at campsie if you're looking at dulwich hill?
     
    hammer likes this.
  10. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,568
    Location:
    Back in Canberra!
    Unfortunately Sydney is very overpriced and you're really only going to be able to get a decent quality 1 bedder in the types of areas you're looking at. I personally wouldn't bother - you'll be slaving away forever to pay for something with no real upside. I would suggest renting if you must stay in Sydney and invest elsewhere or move somewhere else with better value for money.
     
    Marcus Yuuu and Mike A like this.
  11. Marcus Yuuu

    Marcus Yuuu Well-Known Member

    Joined:
    1st Jul, 2018
    Posts:
    149
    Location:
    Sydney
    Yes renting better, market will drop another 10-20% this year.
     
  12. ttn

    ttn Well-Known Member

    Joined:
    9th Sep, 2016
    Posts:
    557
    Location:
    Sydney
    Guaranteed? :D;)
     
  13. hammer

    hammer Well-Known Member

    Joined:
    28th Aug, 2015
    Posts:
    2,854
    Location:
    Darwin
    I was thinking Campsie too. There is an express train that will shoot you into central in around 15 mins...and the food!!!

    I think I remember reading that @Leo2413 had had great success with Croydon park at this price range as well.
     
    Last edited: 14th Jul, 2018
  14. almostthere

    almostthere Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    88
    Location:
    Sydney
    15 mins ??? TripView shows quickest as 24mins..
     
  15. almostthere

    almostthere Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    88
    Location:
    Sydney
    Meadowbank?
     
  16. Marcus Yuuu

    Marcus Yuuu Well-Known Member

    Joined:
    1st Jul, 2018
    Posts:
    149
    Location:
    Sydney
    There is nothing on horizon to push prices up and many many tjonge that could cause further price falls
     
  17. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,568
    Location:
    Back in Canberra!
    The further out you go, the more pointless it is to buy an apartment. If I was looking at the west like the OP, Dulwich Hill is the furthest I'd be looking and that'd be reluctantly. Living in an apartment in outright suburbia is just silly especially if you have to pay Sydney prices
     
    Marcus Yuuu likes this.
  18. wooster

    wooster Well-Known Member

    Joined:
    28th Jan, 2018
    Posts:
    82
    Location:
    sydney
    look at marrickville mate, I was looking at an OTP, 1 bedder + 1 study, north facing, 8-10 mins to the station for only 800K. You for sure can find some thing at your price range there. Not to mention the metro is coming.
     
    Last edited: 14th Jul, 2018
  19. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
  20. Tattler

    Tattler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,065
    Location:
    Sydney

PFI provide our clients with the opportunity to purchase an investment property, together with performing equity investments from a wide range of ASX listed securities some providing monthly income. This is the value of advice.