Hi all, I have been looking for a while for an IP in Sydney. I have a budget of about $1.2m, but want to stay away from apartments. My criteria so far has been 1/ Freestanding house or a semi, 2 bedrooms or more 2/ As much land as possible 3/ Walking distance to transport - ideally a train stop 4/ As close to the city as possible 5/ Don't mind unrenovated 'fixer uppers' if that means it's a bit cheaper...but if anything they seem to be in demand For my budget, it looks like there is nothing on the lower north shore - hence I am in the Inner West for smaller pockets of land. The suburbs I'm tracking are inner west line, marrickville/dulwich hill/tempe/sydenham. More recently I added Arncliffe/Bexley/Rockdale/Banksia to that list. Question is, what's better for long-term capital growth - buying an inner city terrace in a trendy location, or going further out for more land? For my budget, it looks like I could scrape in to Marrickville for an unrenovated 2 bedder on 200 sqm, but for the same price could go out to Arncliffe/Bexley North and get a 400+ sqm freestanding house. Example - attended auction for this over weekend but it went past my limit to $1.285m... 6A Park Avenue, Ashfield NSW 2131 | Domain
Suburb selection is key. Personally, I’d be looking at the likes of Marrickville / Dulwich Hill (and surrounds) over the other ones you mentioned. Walking distance to train is key- without being too close.
You have your priorities right. You now just need to get the balance right between land size and location for something in your budget. There are some proposed changes to zoning in Arncliffe/Banksia region in 10-15 years that could help you out. Just be wary of the $1.2m fixer upper that will cost you $100K-$200K to fix...
Thanks, yes those are great but at the moment really popular. I'm seeing lots of agent underquoting too - places guiding $1 or $1.1m are getting $1.3 + at auction or sold prior. I have been looking mostly at 2 / 1 / - in parts of Marrickville and Dulwich Hill
I also vouch for Marackville. I get the impression it's on its it's way to becoming the next Newtown, but definatly get something near a railway especially if it's an IP. I wouldnt worry about the land size. Anyone looking to rent a property in the innerwest is not there because they want a back yard. It's about access to the city (hence the train) and local character and buzz (cafes and restaurants etc). Close to the city in distance is not as important as easy access to the city, so defiantly close to a rail station, especially if the property doesn't have parking.
A while ago I thought they were cracking down on it with the new rules on price guides, but not sure what's going on now
Marrickville was voted last week in a Time Out survey the 10 coolest neighbourhood in the world. I'm not exactly sure how Time Out work that out. Us locals thought it amusing. I'm expecting to see it in real estate ads soon.
The area you are looking in is fine. There are properties there that satisfy your selection criteria. I am aware of a number of properties. Please contact me if you would like assistance.
funny you mention, i already saw it on one ad https://www.domain.com.au/12-gorman-street-marrickville-nsw-2204-2016546545
