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Any views on the next growth suburb?

Discussion in 'Real Estate' started by MJN, 12th Feb, 2011.

  1. MJN

    MJN New Member

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    Hi,
    Just joined this site and this is my first post. I'm also thinking about buying my first property. I can only afford an apartment and am thinking of a 2 bedroom and want to buy in an area that has good growth - well don't we all!

    My first thought is Marrickville, but would be interested in what others think is the "new Marrickville" (as agents are calling Marrickville the "new Paddington"). Is Marrickville still the new Marrickville or have I missed the boat?!

    I was also thinking Arncliffe - close to city, really nice period homes, new developments - could be up and coming?? Any views?

    Thanks!
     
  2. MJN

    MJN New Member

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    forgot to mention...

    planning on living in the property for 12-24 months to get FHOG and free stamp duty then renting it out. Would prefer old-ish, unrenovated so I could renovate it.
    Cheers
     
  3. Jacque

    Jacque Team InvestEd

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    Hi MJN

    It all depends on your budget - let us know what that is and you're sure to get more responses :) It's difficult to have an opinion otherwise!
     
  4. Billv

    Billv Getting there

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    MJN

    Don't over analyse things.

    IMO apart from the aircraft noise and proximity to shops and transport there isn't much difference between inner west suburbs.

    It depends on what you find, if you like the block, the location etc.
     
  5. MJN

    MJN New Member

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    Thanks - budget is around $400k. Bill's possibly right about all inner-west (Sydney) suburbs.

    Cheers
     
  6. Jacque

    Jacque Team InvestEd

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    Hi MJ

    With a small budget like that you're going to find it difficult to find a decent 2 bedder in the inner west- why not try other areas eg: Northern districts or ryde area? Sydney is a big place with lots of opportunities for adding value.
     
  7. MJN

    MJN New Member

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    They are out there!

    Actually I found one on the weekend in Ashfield that went at auction for $395k!! And 80sqm. So wish I had been ready.
     
  8. Jacque

    Jacque Team InvestEd

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    Ah yes Ashfield has cheapies but they're usually older blocks that require maintenance or they're in busier locations eg: Elizabeth St. The word "decent" in my post assumes those units that meet my investment criteria checklist :D
     
  9. Billv

    Billv Getting there

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    MJN
    How did you go?
    Are you still looking to buy?