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Investment in Sydney

Investment in Sydney

Old Dec 4th 2008, 10:57 am
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Default Investment in Sydney

Hello fellow expats

I plan to buy a townhouse/unit in inner Sydney in the near future. I live in Brisbane, it would be an investment property for at least 2 years, but I do plan to go live there at some point so would like your opinions on a nice suburb..
Since I don't know Sydney that well (I have been a few times tho) I was wondering what you guys think, especially those who live there.

I plan to spend no more than say $500000-$550000, hopefully get at least 2 bedrooms.. I am the type of guy who likes peace and quiet, nice, upper class people around, clean streets, being close to nature (the beach or the bay would be great ) would like to be close to the action but not too close. I am also a gay and would not like to be the only gay in the village.. hehe but I guess I can always go out to Oxford street if I need that, so the atmosphere of a place is more important.
I would like to be close to the city with good transport. I don't know how public transport is like in Sydney (heard bad stories tho..) so as close to the CBD is offcourse a plus
I am currently thinking about places like North shore (neutral bay, chatswood, gordon, greenwich?), Randwick/Coogee, or Balmain/Rozelle.

I know there were other 'suburb' threads in the past, but would like to hear thoughts of people who live in Sydney and know the real estate market, especially when it comes to investment (areas that are more likely to increase in value etc).

Anyone? no? dufffst!

Thanks guys
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Old Dec 4th 2008, 11:06 am
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Default Re: Investment in Sydney

I'd look at the Eastern Suburbs (where I know quite a few gay people) or very Inner West. Around Erskineville, perhaps, although I think you'd be looking at units rather than townhouses with that budget.

I'm biased towards the Lower North Shore but your budget won't go far here. I know that all too well - can only afford to rent here.

Transport is ok - I use the trains.
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Old Dec 4th 2008, 11:10 am
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Default Re: Investment in Sydney

Hi Seasider!

Thanks for the very fast reply
Do you think there is a difference in 'feel' between where you are and the eastern suburbs? is the north shore more quiet than the other side of the bridge?
The north appeals to me I always liked it when I was in Sydney.. but the bridge toll must be an annoying additional cost..
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Old Dec 4th 2008, 11:19 am
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Default Re: Investment in Sydney

Agree with Seasider - East would suit you. Anywhere close to a beach will retain value in the long term. Around here (Coogee) you'd get a reasonably sized 2-bed unit in the low to mid 500s and a short walk to the beach. As long as you don't live in a street too close to the shops/restaurants/pubs you won't be bothered by noise. It's slightly cheaper in Randwick but a longer hike to the sand.

No trains around here but the bus to the city is regular and quite quick.
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Old Dec 4th 2008, 11:23 am
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Default Re: Investment in Sydney

Hi NickyC!

How quick is quick in rush hour? are there any bus lanes or a busway like in Brisbane?

Cheers

Guy
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Old Dec 4th 2008, 11:25 am
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Default Re: Investment in Sydney

Well having come via ultra-safe Singapore, perhaps I overreact but I don't feel that safe around Oxford Street, Newtown, etc. My GBF lives near Redfern station and that area is a definite no go area for me - he acknowledges it too although has thankfully never been attacked.

McMahons Point where we live is lovely, very villagey and a lot quieter than you'd think considering it is so close to the North Sydney CBD. Of course it doesn't have the nightlife of the other side but it does have tons of good delis, restaurants, etc. If you look up some other threads you will see me raving about it. (look up some by plantpot, she's a recent arrival and discussed a lot of these areas)

Neutral Bay is quite nice - we looked there initially but it doesn't have the benefit of a train line. Chatswood, Gordon, that way out I would say is much more suburban, perhaps more family-oriented, and to me Sydney is all about the water so I'd rather not live that far out. There is also Kirribilli which was initially my dream location but TBH I think our side of the railway has a lot more to offer.

My husband works out near North Ryde so we don't suffer the bridge tolls; I don't work yet but I'm going to try to do without a car anyway so will probably still take the train. (I can be at Town Hall within about 20 minutes of leaving the house.)

A single friend of mine has just bought a fairly spacious 2 bed unit in a small block in Randwick for just under 500k; haven't been there yet but from the photos it looks quite green around it too.
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Old Dec 4th 2008, 11:36 am
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Default Re: Investment in Sydney

I remember walking around the area of milsons point train station and it seemed very quiet and leafy, totally not what I would have expected from such a central place! Is the North Sydney CBD like the big brother on the other side? or is it more like a daylight only place to go to?
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Old Dec 4th 2008, 11:39 am
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Default Re: Investment in Sydney

It's lively on a weekday due to the commerce, quiet on evenings and closed on weekends.
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Old Dec 4th 2008, 11:46 am
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Default Re: Investment in Sydney

How are the neigbours and standard of appartments? in Brisbane sadly many inner city apartment blocks are full of up-to-no-good teens who make lots of noise.. :/
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Old Dec 4th 2008, 11:58 am
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Default Re: Investment in Sydney

No idea on apartments, sorry - we live in a house on a very quiet street. I would doubt "noisy teens" could afford places round here though.
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Old Dec 7th 2008, 11:13 pm
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Default Re: Investment in Sydney

Hi guyguy

I know the northside pretty well, having bought for several clients there now. Eastern suburbs and inner west would both suit you, as would the lower north shore, but it really depends on what you want. LNS is quieter, less likely to have noisy neighborhoods, troublesome "hoodlum" behaviour etc and, as Seasider's pointed out, has beautiful spots like McMahons Point and Kirribilli. If you're interested on the north side, also consider Waverton and Wollstonecraft alongside Neutral Bay and Cremorne. Both suburbs have a train line to the city, are fairly quiet and safe and have a charm to them. Short drive to the beaches either Balmoral on northside (Manly for surf) or Bondi etc over the bridge.
Further up Crows Nest is really appealing, lots of cafes, good eateries and gorgeous streetscapes. Even better if you can buy close enough to St Leonards station but bus routes to CBD are common and fast too.
$500-550K will get you a pretty basic 2bed unit with parking in the area but they're certainly out there. You just need to conduct a thorough search and do your homework with negotiating etc. If it all gets too much you can always hire a BA to do the work for you.

Happy hunting!
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Old Dec 8th 2008, 2:44 am
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Default Re: Investment in Sydney

Originally Posted by guyguy2003 View Post
How are the neigbours and standard of appartments? in Brisbane sadly many inner city apartment blocks are full of up-to-no-good teens who make lots of noise.. :/
I wouldn't want to pour cold water on the project, but from your questions it appears you aren't familiar with the area. Buy property in unfamiliar surroundings at your peril!
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Old Dec 8th 2008, 11:11 am
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Default Re: Investment in Sydney

Hey Jacque!

What is your opinion about North Ryde? It seems very affordable in terms of land prices. West Ryde also looks good! Any reason why? I understand that a new train line will go thru the suburb soon.

Wol - Thanks for the advice, I agree I don't know Sydney all that well since I never lived there (visited a few times tho). That's why I'm doing my homework, going to visit after christmas for a few days to get the feel and get some feedback on a few places.
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Old Dec 9th 2008, 12:10 am
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Default Re: Investment in Sydney

Originally Posted by guyguy2003 View Post
Hey Jacque!

What is your opinion about North Ryde? It seems very affordable in terms of land prices. West Ryde also looks good! Any reason why? I understand that a new train line will go thru the suburb soon.

Wol - Thanks for the advice, I agree I don't know Sydney all that well since I never lived there (visited a few times tho). That's why I'm doing my homework, going to visit after christmas for a few days to get the feel and get some feedback on a few places.
Hi Guy
Ryde is ok- already has a rail line but is having its shopping centre revamped at North Ryde. I think, however, that you might be more suited to somewhere like lower north shore or even Lane Cove with your requirements. Lane Cove (Burns Bay Rd side) is lovely, close to cafes etc and quick trip into city by bus. $500K will get you a nice 2bedder with parking too.

Visit after Xmas and then ask some more questions- Sydney's a huge place and you really need to see it or speak to someone who you can trust to get a truer idea of where you want to live, and what suits you.
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Old Dec 9th 2008, 11:30 am
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Default Re: Investment in Sydney

Thanks Jacque! I really appriciate your answers on this one. Have a lovely christmas time!
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