NSW Sydney lower north shore PPOR

Discussion in 'Where to Buy' started by Cynthialiu041, 9th Dec, 2018.

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  1. Jane Ridder

    Jane Ridder Well-Known Member

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    @Cynthialiu041 in that area you might be able to get a 3br unit for a similar amount this year. Or possibly even a semi/ townhouse if the market keeps dropping.

    Have you thought about Naremburn? I live there and like Wollstonecraft, it gets the ripple effect of growth in Crows Nest/St Leonards without the major construction projects. The side I live in has less steep hills than most of Wollstonecraft, so it can be an easier stroll into Crows Nest/St Leonards.

    I can also recommend renting in one of the areas you mention to see if you like it. This is how I decided to settle down around here, so renting worked for me. And there's no rush, I can't see this market sky rocketing again in the near future.
     
  2. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    It is on the expensive side. However downsizer properties with courtyards (like this one) sell for a premium at the moment.
     
  3. Cynthialiu041

    Cynthialiu041 Member

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    Thanks @Jane Ridder ! Yes Naremburn is also an area I"m looking at, along with Cammeray / Neutral Bay.
    Have been looking at rentals in the area and there doesn't seem to be much in my budget (<$600). Greenwich seems the cheapest option.

    As an aside, how easy would it be to rent out an apartment in these areas? I've seen some of the older/ worse looking stock sitting on the market for quite awhile..
     
  4. Jane Ridder

    Jane Ridder Well-Known Member

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    @Cynthialiu041 I don't think the age is too much of an issue, it's really the location, size and condition of the property.

    Currently I'm renting out a 2br unit in Naremburn (with no parking) for $730/week. It was built around 100 years ago.
     
  5. See Change

    See Change Well-Known Member

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    Personally

    If it's a PPOR I wouldn't be that concerned about Not buying in any specific suburb .

    Crows Nest has lots of nice restaurants and is a bit of a foodie place . I have had several friends who've lived there and I also wouldn't have a concern about living in St Leonards even if there are lots of new developments esp if it's a PPOR

    While there maybe lot of new Developments , they are all relatively mature suburbs and are all very convenient . It's not like Green square where you have a whole new suburb and you don't really know what it's going to be like and they're all still relatively central and on the lower north shore which is always going to track well .

    It would come down to the specific development . Some will be dodgy and some will be fine .

    I'd probably try and rent and you might be able to get a healthy discounts . Try low balling with rents as well as some areas have high vacancy rates ( Waverton 6.5 % as example )

    Cliff
     
  6. Cimbom

    Cimbom Well-Known Member

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  7. Gockie

    Gockie Problem solver Premium Member

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    No car space, 1 bath only, no balcony, where is the laundry?
    No idea on strata fee.
    3rd bedroom very small.
     
  8. Buynow

    Buynow Well-Known Member

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    Rents fell significantly last year and plenty of stock so a good chance of picking up a cheap rental.
     
  9. Cimbom

    Cimbom Well-Known Member

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    I think it must be the strata - the building looks a bit worn so could need work. I don't think 3 x 1 is that uncommon for older buildings
     
  10. See Change

    See Change Well-Known Member

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    Doesn't jump out to me as a bargain to be honest , but haven't looked closely in that market in last year or two , though have in the past .

    Cliff
     
  11. Cimbom

    Cimbom Well-Known Member

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    Interesting. I haven't researched the area in much detail either but presumed something of that overall size and with that close up view would be worth more. Never mind then :p
     
  12. wooster

    wooster Well-Known Member

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    This may fits your budget.

    45/100 High Street, North Sydney NSW 2060 - Apartment For Sale | Domain



     
  13. Gockie

    Gockie Problem solver Premium Member

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  14. Cynthialiu041

    Cynthialiu041 Member

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    Yes a 2bd is preferred :)
    Though i want a PPOR would also like option of using as IP sometime down the track.
    Should I buy now with a 20% deposit or wait for more price falls?
    What's the chance of a decent 2bd in this kind of area dropping below $800k (I haven't seen many)?
     
  15. TAJ

    TAJ Well-Known Member

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    This could be a good exercise in Patience!