NSW Sydney - PPOR - <1.4m

Discussion in 'Where to Buy' started by Wattle, 24th Feb, 2020.

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  1. Wattle

    Wattle Active Member

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    Thanks - yes I have opened up the online search to those areas and the metro once finally connected up should help. Just haven’t made it out there for too many inspections.
     
  2. Wattle

    Wattle Active Member

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    It’s definitely a bit more of a long term play. I grew up out west so familiar with the area and pretty bullish about future prospects once transport links are even stronger and Parra/New airport are bigger economic hubs. For now though I think we will stick to finding a place a little closer to the CBD - even rent for a bit if we need to and enjoy living in an area we can’t afford to buy. I’ve also become a little more risk averse with getting into too much debt with the uncertain COV19 situation - not as keen to pay that little extra to get a place, something i was considering doing just to “get in” at one point. I’ve accepted this might mean I’m on the sideline a little longer based on the auctions results this weekend.
     
  3. Wattle

    Wattle Active Member

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    ...crime/gang issues don’t sound nice but I guess any up and coming area might have had this at some point :) I’ve seen quite a few places nice places in the Arncliffe postcode but closer to Banksia station. This one was on our radar (17 Carlton Street, Arncliffe NSW 2205 | Domain) and sold for 1.22m today, we didn’t go as we wanted that extra bedroom, but otherwise ticked most of the boxes. I am ideally looking at something more Earlwood/Bardwell Park or even further up near Hurlstone Park/Dulwich Hill but appreciate the significant price bumps up as you nudge further north.

    This one sold 1.446m a few weeks ago which I thought was a decent deal given the market (Sold 1 Elizabeth Avenue, Dulwich Hill NSW 2203 on 29 Feb 2020 - 2016056388 | Domain)
     
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  4. Moltzerman

    Moltzerman Well-Known Member

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    Many parts of the St George region have underperformed in my opinion in the past 3 years relative to the neighbouring Inner West and Greater Sydney - up to 30% fall from peak occurred in Kogarah, Arncliffe and Hurstville. So yes, you'll probably find some good value out there including the one you pointed out near Banksia station. However, based off the public and private investment in the Inner West with the Metro Line, Westconnex and the Greenway, I see higher CG potential. Under $1.4m, you might be fortunate enough to snag a 2 bedroom semi-detached property on approx 200sqm in Marrickville/DH, otherwise you might need to make compromises. 1 Elizabeth Ave is located right off Old Canterbury Road which is busy during peak hour, hence the 1.446m price. Typically a house of that proportion will go for $1.8m - $2.2m.

    If you want a bigger home on 450+ sqm of land, neighbouring Earlwood is your best bet (aim for a property close to either the T3 or T8 line!!). Bardwell Park is also great. Happy hunting
     
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  5. Moltzerman

    Moltzerman Well-Known Member

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  6. Wattle

    Wattle Active Member

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  7. matt_j

    matt_j Well-Known Member

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    What about Pagewood?

    Close to Eastern beaches, the airport, CBD all not far away. There are 3-4 bedroom houses to be had for under $1.5m on good block sizes.
     
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  8. KFC_8

    KFC_8 Active Member

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    I see a lot of the posts on this thread were pre at the start of COVID-19. Have any of the members seen prices fall off in the market for properties that meet these requirements? I have been patiently waiting and watching in similar areas to those discussed in this thread and have not really seen prices come off at all (alternatively there are a lot of sold properties with no prices available on REA or Domain).
     
  9. Lacrim

    Lacrim Well-Known Member

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    The Inner West eg Stanmore, Petersham, Lewisham, Marrickville, Newtown, Alexandria, Tempe etc? Or maybe Earlwood or Bardwell Park if you're looking for a big block.

    If you can cope living in the Hills, with $1.4 I reckon you can do better than Baulkham. Maybe look at Beecroft, Cheltenham or maybe even Turramurra, West Pymble in the North Shore etc etc. Could even try Concord, Drummoyne, Cabarita and surrounds. East Ryde is an overlooked area but great position. What about the Northern Beaches north of Manly? Great lifestyle areas. You have heaps of options. Get in your car and hit the pavement!

    Bottom line is AIM higher instead of going for low hanging fruit like Baulkham or Arncliffe. Shop around in more affluent suburbs where stuff goes for mid to late $1s at a minimum. This is the market to do it so take advantage.
     
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  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    While I don't know much about the Northern Beaches, I think the OP will find it basically impossible to find a house in all these other areas under 1.4mill.

    Have you got examples of recent sales in these areas going for less than 1.4mill?
     
    Last edited: 4th Jun, 2020
  11. KFC_8

    KFC_8 Active Member

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    There are times where some properties may go for around the budget in the areas mentioned above (Bay Area, East Ryde), but they are usually unlivable places that require 150K and more of renovations to get up to scratch so they probably wouldn't fit into the original budget.
     
  12. Lacrim

    Lacrim Well-Known Member

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    Last edited: 4th Jun, 2020
  13. KFC_8

    KFC_8 Active Member

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    Those are some great examples and they definitely were not as unlivable as the ones I have seen recently. Thanks. I will continue the search and hope to find something in the worst house best street scenario.

     
  14. KFC_8

    KFC_8 Active Member

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  15. Lacrim

    Lacrim Well-Known Member

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  16. Poppy

    Poppy Well-Known Member

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    I bought off plan new apartment 1.4 Cremorne 120m2, huge 60m2 terrace all brand new Miele etc

    Walking
    1 min bus stop, at shops, 15 min Cremorne point ferry, even walk to city or north Sydney!

    I love inner ring

    I would choose flat over house any day

    I wouldn’t want to live in neighbourhoods with rough kids /bad schools - taught at enough to see how different they are. Also important for me to live in high socioeconomic area as I hate crime and want to feel safe, not get raped or mugged or car smashed up too often ..had all these things happen in bad areas.

    It’s currently a very popular cash flow positive IP

    Might live in it one day
     
  17. KFC_8

    KFC_8 Active Member

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    There is a lot of talk about risk in off-the-plan properties in new apartment complexes with potential for high strata, over supply, bad build quality. But you do make some good points. For the price, you can't beat the convenience. Was it a 2 or 3 bedder?

    Where are the neighborhoods with rough kids/bad schools that have been suggested in this thread? I do want to stay away from those

    .
     

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