hi guys,
we have been looking for a terrace within these 3 suburbs for some time time now as our ppor.
its it unlikely that the terrace that we eventually settle on with have a carpark and in most likelihood it will require a significant amount of renovation.
just wondering if you guys have any opinion or experiences with these suburbs and what you thoughts are in regards to long term growth prospects.
thanks in advance
julie
Hi Alpina,
As you know all 3 area’s have had substantial growth in last 5 Year’s, how much further it can sustain this growth is anybodies guess.
Ultimately the choice is your’s, I dont think you CAN make a bad decision in any of these 3 area’s.
Has this Helped?
Regards
Joseph Scarcella
prime real estate agents
property management specialists E: [email protected]Alpina,
Hi
There are at least a couple of Paddo residents here who may be able to help,although Melbear has been quiet for a while
Mel, miss your posts
Only thing I’ve heard re Paddo is about the new Westfield at nearby Bondi Junction affecting the shopping strip, but this should not affect residentual housing IMHO
Certainly a nice suburb, the latest Boystown lottery is at 80 Underwood St, worth a ticket for a good cause
Long term growth sorry can’t say, but I do remember saying to myself $50k for a terrace in Alexandria as crazy in 1980.
Cheers
“When you can walk on water…take the boat”
thanks for the replies so far
hoping to hear more from others with experience or thoughts of the area.
between surry/darlo and paddo there must be a minimum of $200k difference for similar houses.
i guess what im really trying trying to determine is whether the extra $200k for paddo is justifiable long term or whether the feel is that neighbouring darlo will start to pull in the price differential.
cheers,
julie
Alpina,
I live here in Sydney and have been looking at Paddo/darlo/surry for the last 18 months. I nearly purchased a house in Nickson st surry but finally realised it was overpriced. IMO unless you want to spend $1.5M in Paddo to get something more than a dog box then forget it, a great suburb anyway. Darlo, no thanks. I live at woolloomooloo and darlo is out, and most of surry hills.
Anyway, I have settled on a 3br townhouse close to Coogee/Spot. It has a double garage, ensuite. land content close to the beach, shopping centre of Randwick, hospital, good pubs (the royal, Coogee Bay) and about $250K cheaper than darlo/surry hills.spider
hi spider,
i wish my budget stretched to $1.5mill – saw an awesome house not that long ago on forbes st, darlo for that price
really looking at entry level paddo – nice street, sub 150sq mt block, no carpark at sub $1mill pricepoint, possibly less depending on level of renovation required. of course this pricepoint in surry hills will buy a house requiring no extra works at all.
cheers
julie
Hi Julie,
My opinion, for what it’s worth is if it was for me to live in, I’d go Paddington, only cause I like Paddington. I know it’s more expensive and obviously not as cost effective, but there you go.
Also, I have absolutely no facts or statistics to back this up at all, but I reckon Darlinghurst may just be a good bet. I’ve spent a lot of time around the Darlo, Liz Bay and Potts Pt areas, and I just have a good feeling about Darlinghurst. As I said, no facts whatsoever, just a gut feeling – however I am pleased to say, my gut has worked well in the past!!!
Good luck with whatever you decide.
Cheers,
KarenI agree, I feel also that darlinghurst is an area in transition. Moving away from the Kings Cross scummy thing into the up and coming, new apartments and trendy renovations, double income no kids, urban cafe society phase. doesn’t mean I am quite ready to live there myself being an eastern suburbs kind of a girl but as an investment I think the only way is up – it’s a walk down the hill in to the city.
I also have been looking (peeking and dreaming, more like it) in double bay, which I think I have noticed going down in value (i,e. correcting). I believe double bay to be an a-grade suburb which will always hold it’s value long term and that now or soon or in the next year or two could be a good time to buy. Double bay i reckon has appeal for renters and home owners. I think rushcutters bay is A-grade too or becoming more and more a grade.
I remember being at a seminar and Jason whitton saying (who specialises in developments and OTP apartments) re the sydney apartment market, that a grade locations would never suffer the market corrections that the b-grade sites would, because there is always a demand for them
I would agree with that
cheers-
Minijoy to the world
hi guys,
just thought id bump this to top again and hope for a few more comments
cheers,
julie
Mini is right. I reckon Double Bay is great value – especially some of those old walk-ups.
Renovating in Surry Hills or Darlinghurst is a challenge. Some tradesmen I know aren’t keen on the area. Of course, you might be doing the work yourself. You may have the same issues as they do. Some tradies don’t like it because it’s often hard to park near the site and every time they turn their back something goes missing from either their truck or the site.
I knew a plumber who was doing some work in the area. He borrowed a mate’s dog to guard the tools and materials on his ute. The dog got nicked.
depreciator! Hi!
Can you explain to me what constitutes a walk-up?
sorry to be so ‘not knowing of the jargon’ – I’m from NZ you see….joy to the world
Hi Mini,
Walk-up = no elevator. So they’re usually 3 floors max. Perhaps a dozen flats. You’d know the ones I mean.
The buildings are often very sound and not having an elevator removes a potential maintenance headache. I also like the high ceilings.
Around Double Bay and Rose Bay there are some nice old blocks. And some lousy ones.
There are some on the eastern shore of Rose Bay – great position. I was out fishing and saw them from the water. I’m sure they’d be expensive.
I’ve never looked seriously at them as an investment, but a friend of mine has been looking for a PPOR and has seen a few lately.
Alpina,
As I said in an earlier post I had been looking around Surry/Paddo/Darlo for 18 months very aggressively. I don’t think you will ever go too far wrong in Paddo. Why not bite the bullet and buy a PPOR thru a trust. I would have except that most of the terraces are too small for the price I wanted to pay even with tax deductions. The terraces that were OK were 1.2m+. Too much debt for me at my age, even with 11 other properties….I get the key on my town house tomorrow. After 16 removals in 20 years in the Navy this is IT…..
Good luckSpider.
Spider
Walked through Darlinghurst today, Yep. talk about Area In Transition. reminds me of the difference between St Kilda now, and 7 years ago.
It is Happening. Kookai (brand new megastore) next to Bar Coluzzi (character/cockroach-ridden-take-your-pick-which, been-there-as-old-as-the-hills.)I can just f-e-e-e-l the Bar Coluzzi’s being squeezed out to make room for the new Nike Flagship store (or similar.) Then I think it will be time for William St to become a shopping-mile…hmmm.
But where will Kings’ Cross move to??
Yeah, Double Bay, I reckon it’s the new Paddington. Paddington seems more like an extension of the city these days. Double Bay has the village atmosphere that Paddington has down at five-ways end, but the Oxford St area doesn’t really have it any more. Becoming more ‘urban’, more blocks of flats going up, less houses, etc
Like what happened to Chapel St. used to be edgy, but now it’s just manufactured mass market chain-stores. edgy is ‘off chapel’. It will be the same in paddington. In fact there are plenty of streets off oxford where little boutiques and cafes are starting to go in. i.e. south dowling st, william st paddo, and some other ones up nearer queen st endAlpina if you are planning on having kids at all go for Paddo over Darlinghurst or Surry Hills. Quite good schools in Paddo and Woollahra.
joy to the world
thanks minimogul and spider,
kids are a little way away btw
looking at 2 properties in paddo atm – one requires a fair bit of work and the other no work – approx $150k between the 2 both in good streets. big call in some ways – eg no work one sounds goods but how do we add value to it, knowing that paddo capital gain will be flattish over the next few years. both coming up for auction and hope to score on one of them
we love darlo also but mainly one street – high side of barcom st. stock doesnt come available there often.
spider, we like your suggestion about setting it up under a trust. we have been exploring it for sometime now but waiting to see final calculations to see if it really is the best option.
ah well, we will keep looking and hoping.
thanks again and keep the feedback coming
julie
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