Undervalue Sydney Suburbs on the rise!

Hi,
Came across an interesting read on News discussing about Ermington. It used to be undervalued but is on a steady rise. Young families are seeking and moving from inner city apartments to Ermington due to its affordability. It is still relatively cheap compared to its neighbours. I have been watching its rise since 2 years ago but never had the opportunity to buy one for investing. This MAY be one of the last few surburbs to invest in Sydney because of its undervalue? Any thoughts folks?

Article on News.
http://www.dailytelegraph.com.au/realestate/news/news-story/67b4f5e389dc1704f8ad5c76a68cd9bb

 

I think you are already too late if townhouses are already selling for $1.2M. Developers have been targeting it for some time. One of them is on here I believe

 

Yep. I feel you are a few years too late. If you have gone through Dundas Valley too, the amount of development there... it was cheap and not particularly desirable not too long ago... no more.

 

Too late. I'm in the area. @Leo2413 can tell you that. A duplex is going for $1.2m. An ordinary house goes for $1million. Are you talking about apartments? 3 years ago, you can still get a small house in Ermington for $500K to be torn down and rebuilt.

 

As @larrylarry said, its over for homes or duplexes there. Massive growth in the last 2-3 years. That boat has well sailed and those who bought 2 years ago are counting their loot now.

 

I could have bought one good block in Ermington 2 years ago when we were looking around West Ryde. Problem was my wife reckoned Ermington Public School isn't good enough for her liking (even though it is actually high up in the chart)

 

Ouch. Most expensive school fees you've ever paid without even attending . .

 

Ermington has OC class.

 

Yeah i know, for me it is good enough but my wife eyes fixated on Beecroft, Artarmon and Summer Hill Public. I did try my best to convince her .

 

Where did you end up buying?

 

Summer Hill

 

Depending on how much you paid, you would have done fantastic there too.

 

Still researching in Ermington due to the close proximity to Eastwood, West Ryde and Parramatta, yet still affordable. Just found this one, could be a gem as it is a Townhouse, plus no strata fees so pretty much living like a house. Almost close to no townhouses in Ermington and this one just pop-up!!!
Check it out: http://www.realestate.com.au/124577094

 

Now you have posted it here!? - I do question the logic of posting properties you are interested in on a public forum ... creating more competition for yourself.

 

Unless he is the seller...

 

well I am still saving up and therefore in the meantime just accumulating some value thoughts by our forum's savvy investors. at the end of the day what are your thoughts???

 

There are thousands of threads in this forum, most of them are filled with real good value thoughts. May be a good start would be to start following some useful threads.

As far as listings you posted are concerned, nobody can give you good advice without knowing your objectives. Every investment is relative to your opportunity cost.

 

My negative on it is that its on Marsden Rd. Its not as bad as Victoria Rd, but it is still a main throughfare. And a warning, in the near future 1000's of homes will be built at the site where the Putt Putt Golf is.

 

Although not shown well in the photos, the property appears to have district views from the front bedrooms.

From the info in the video it has double-glazed windows, which would have been a council requirement on a main road site. Helps to deal with the traffic noise.

 

I live in the area. The new apartments at Putt Putt will impact supply (and make Victoria Road even busier). Ermington Public is a great school and people do rent in the area so they can get their kids in there. There are also lots of people doing major renos and wanting to rent in the area whilst the renos are being done. My impression is that a 3/4 bedroom place should have good rentability in the area. Check other sources though! Can't comment on capital growth though except to say it has been good in recent years. West Ryde is slowly gentrifying. I think the area is great for jobs in that Parramatta, Rhodes/SOP, North Ryde are all short(ish) drives and the city is an OK train trip.