NSW What's wrong with Lakemba?

Discussion in 'Where to Buy' started by Shawn, 1st Apr, 2016.

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  1. Azazel

    Azazel Well-Known Member

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    That's going to suck for a while.
    So is the closure of the Macquarie Park line.
     
  2. neK

    neK Well-Known Member

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    Maybe the older houses that have been knocked down for brand new McMansions that are West of Homebush Rd towards Flemington....

    Can't see those grand old houses on 2000sqm being "working class" houses :p
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    @neK West of Homebush Rd isn't Strathfield, just less pricey.

    - even anything else near the Golden Mile, Newton Rd.

    You'd be lucky in streets like Boden which have small blocks but elsewhere like Hydebrae, Fraser, Barker , Albert Ave are all decent blocks and have never catered to the likes that wear high-vis day in - day out.
     
  4. Inov8ive

    Inov8ive Well-Known Member

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    Its really less about the implementation of the new train system and more about the urban renewal. The entire Bankstown to Sydenham corridor is going to be renewed with a whole heap of development and renewal throughout each location. This is whats planned for Lakemba https://majorprojects.affinitylive.com/public/a7187aafbe99befa864f075576ba2f57/Lakemba Precinct.pdf
     
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  5. Cia

    Cia Well-Known Member

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    This is a great resource for comparison, could you post the link to it please?
     
  6. Azazel

    Azazel Well-Known Member

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    They love their double story brick monstrosities, especially on the main roads.
     
  7. Inov8ive

    Inov8ive Well-Known Member

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    Investors are starting to take notice. Lots of punters at opens and apartments are selling very quickly. There will be some solid growth here this year.
     
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  8. josh123

    josh123 Well-Known Member

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    Hopefully, I'd like to release some more equity before the tide turns. Still very affordable and close to the cbd.
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

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    The place hasn't moved in years - always has been about 15km from town and it's not getting any closer.
     
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  10. jc007

    jc007 Member

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    Recently I've notice more and more Asian moving into Lakemba Punchbowl Greenace
     
  11. Scott No Mates

    Scott No Mates Well-Known Member

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    Indonesian (still muslim) or is it Chinese/Vietnamese/Thai?
     
  12. jc007

    jc007 Member

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    Mostly Chinese or Vietnamese judge from the clothes they wear. Go to the Lakemba Aldi and see yourself...
     
  13. Jacque

    Jacque Jacque Parker Premium Member

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    Personally I wouldn't buy in Lakemba but each to their own. Like others here who have experience of living/working/knowing the area I'd prefer to invest elsewhere. I would suggest that any area you're considering seriously to not only drive to, but walk the streets, develop a feel and form your own opinions. There are reasons for some suburbs being cheaper than others. Best of luck in your quest @Shawn
     
  14. jc007

    jc007 Member

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    I know someone (Chinese Australian) who bought 3 houses in Lakemba area and he is planning to buy more this year (depending on financing). He paid below 800k for each property and never looked back. He himself lives at Hurstville and there is no detached house there under $1m
     
  15. dabbler

    dabbler Well-Known Member

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    No thanks.

    The old saying of lipstick on a pig still applies, is ok for investment though, but too late I think for anything anywhere in Syd.