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View Full Version : Marrickville - Opinions please


ianvestor
08-05-2008, 09:41 PM
Hi all,

I'm just looking for some opinions and outlooks for Marrickville in Sydney. My dad has a little unrenovated terrace there which he bought for $450,000 around March 07, and as I'm the primary RE enthusiast in my family, he looks to me somewhat for guidance and advice, so I like to keep an eye on his IPs as well as my own.

More specifically, the place is two-storey, two-bedroom, on around 200sqm on Victoria (a main road).

As just mentioned in the 'rents in Sydney' thread, he has just scored a new tenant, taking the rent from $350 to $400.

From what I can gather through my own research he's had little if perhaps no capital growth since he bought it as these places still seem to be priced around this mark. Still, as I said to him once, it's better to buy a bit too early than buy a bit too late.

Also, I keep hearing about how the western suburbs of Sydney are doing so poorly and wonder does this include Marrickville, or is that considered inner city?

Thanks for any and every bit of info (opinion or fact) you have about this suburb.

-Ian

evand
09-05-2008, 09:24 AM
I'd say the property would have gained in price since it was purchased in March 07. By maybe 10%.

Doing very well to find a house there these days for $450k.

Marrickville is not western suburbs but inner west. It is not affected by the mortgage stress that is associated with the outer western suburbs of Sydney.

depreciator
09-05-2008, 11:31 AM
Marrickville is still holding up from what I can tell. As Evand said, it's classed as Inner West. It is a suburb that has gone through heaps of changes in the last 5 years - lots of younger people with money moving in (adjacent suburbs Newtown/Enmore are getting pricey and people are heading for Marrickville. There are 4 good cafes that have opened in the last 4 years on the Marrickville Road strip. And Gloria Jeans cafe came and went - they rarely thrive in places where people like good coffee. I reckon the demise of the Gloria Jeans place is a mark of how sophisticated marrickville is getting.
Victoria Road is a pretty lousy street, though. Especially in peak hour. Three good apartment developments on the Victoria/Marrickville Road corner, which help. And a good kebab shop - apparently people travel miles to go there. What number Victoria Road is it?
Scott

sash
09-05-2008, 11:47 AM
Agree....Marrickville is going from strength to strength. Even the dodgy units at Hill, Glen, and Illawarra (near Hill) streets are going well. The police have moved the thugs out....still some left but alot safer now.

Alot of trendy couples are moving in. The units are particularly good value as you can still buy 2 bedders for 260-300k. A quick reno and you could get 350pw rent.
:D

Marrickville is still holding up from what I can tell. As Evand said, it's classed as Inner West. It is a suburb that has gone through heaps of changes in the last 5 years - lots of younger people with money moving in (adjacent suburbs Newtown/Enmore are getting pricey and people are heading for Marrickville. There are 4 good cafes that have opened in the last 4 years on the Marrickville Road strip. And Gloria Jeans cafe came and went - they rarely thrive in places where people like good coffee. I reckon the demise of the Gloria Jeans place is a mark of how sophisticated marrickville is getting.
Victoria Road is a pretty lousy street, though. Especially in peak hour. Three good apartment developments on the Victoria/Marrickville Road corner, which help. And a good kebab shop - apparently people travel miles to go there. What number Victoria Road is it?
Scott

depreciator
09-05-2008, 11:57 AM
Gays have also moved into Marrickville - it gets the Newtown gay overflow. It's always good for a suburb when the gay population discover it.

evand
09-05-2008, 01:28 PM
Good news as values usually rise after the gays move in and the trendy/yuppies/dinks follow.

Gays have also moved into Marrickville - it gets the Newtown gay overflow. It's always good for a suburb when the gay population discover it.

shady
09-05-2008, 02:05 PM
So all I need to do to get property prices to rise is get a few gay blokes to come and live there....Too Easy! Now where did I put that gaydar?

As a matter of interest, what are the 'better' areas of Marickville to buy in?
I assume the closer you get to Enmore the better but I dare say the closer to Enmore the more aircraft noise as it seem it get closer to the flight path.

Better in Marrickville South? or closer to Dulwich Hill?

Cheers

depreciator
09-05-2008, 02:20 PM
I think part of the attaction for Marrickville is the block size. That's certainly what is attracting families. Toward Enmore, though, blocks gets smaller. And yes, there tends to be more plane noise over that way.
The most sought after part of Marrickville is 'The Warren'. It's part of south Marrickville and it's up on a hill (or a bit of a rise, at least). We get pretty good views up here, and we don't have to mix too much with the riff-raff down on the flats. There are some other great pockets. Near the golf course, there are some great streets. David Street off Marrickville Road has lots of federation homes - they sell for $1m+. Marrickville is a huge suburb and there is big variation in the block sizes, housing stock and immediate amenities. I think it's one of those suburbs where people really have to drive around to get a handle on it.
And we haven't had a shooting in ages!

ianvestor
09-05-2008, 07:50 PM
Thanks for all the replies, I'll pass them on to my dad. Not sure what street number his place is, but he doesn't know I've asked about it online yet anyway so I'll ask him first.

Noone has mentioned Lakemba yet either, apparently a pretty crap nearby suburb? Okay maybe the less said about that suburb the better.

ziggy2214
09-05-2008, 07:55 PM
Thanks for all the replies, I'll pass them on to my dad. Not sure what street number his place is, but he doesn't know I've asked about it online yet anyway so I'll ask him first.

Noone has mentioned Lakemba yet either, apparently a pretty crap nearby suburb? Okay maybe the less said about that suburb the better.

Lakemba is not exactly nearby
20 minutes drive perhaps?

depreciator
09-05-2008, 08:09 PM
Yeah, Lakemba is a fair way away - twenty minute drive on a good day. It would be called 'southwest' and I suspect prices would have been hit there. It's completely different in every way. Marrickville got the Greeks in the 50s and the Vietnamese in the 70s. Lakemba got more troublesome later migrants. But the big mosque there is an amazing building, and there is some great food in the area.
Scott

stumunro
09-05-2008, 10:12 PM
Generally speaking Victoria Rd can be a bit iffy to property prices, i've seen suburbs move significantly while properties on the main road dont get any demand.

KrisK
10-05-2008, 12:42 PM
Hi Guys

I looked at a place in Gamers street, which is more towards enmore. Its just off Sydenham road so away from the main drag of Marrickville shops, not much noise but the planes.. Whats that area like in terms of living in Marrickville?

Map below

http://maps.google.com/maps?f=q&hl=en&geocode=&q=Silver+Street,+Marrickville&sll=-33.909851,151.248677&sspn=0.012483,0.028667&ie=UTF8&z=16

coastymike
10-05-2008, 01:01 PM
Kris,

If you were looking at living in Randwick and Drummoyne and like the feel of those areas I think you would be disappointed with Marrickville. I think it has great potential but my partner feels very unsafe walking through certain parts. May change in the near future. For investment purposes fantastic.

KrisK
10-05-2008, 01:21 PM
Kris,

If you were looking at living in Randwick and Drummoyne and like the feel of those areas I think you would be disappointed with Marrickville. I think it has great potential but my partner feels very unsafe walking through certain parts. May change in the near future. For investment purposes fantastic.

Thanks mike, the reality is we cannot afford Randwick or Drummoyne for what we want. We dont want a little piddly apartment, we want land and a free standing house , but would settle for a semi.

Drummoyne and Randwick are simply far far too expensive for what we want. We are looking a large place with good land, 2 car spaces, 3 bedrooms, 2 bathrooms and great potential.

PPOR this would be, not investment...

coastymike
10-05-2008, 01:24 PM
Have you considered Leichhardt ? 2 bedrooms, 1 car space (well via rear lane access) restored are going anywhere between $600K - $650K depending on how desperate the vendor is. Nice area as well and very family friendly.

I think if you want what you are discussing then you are going to have to move further out. There is no way you will get anything decent in Sydney with 3 bedrooms and 2 car spaces in inner Sydney for under $700K. I know you couldn't afford $650K for the Randwick apartment so 3 bedrooms in inner sydney would be a rare rare find. Maybe in Mascot under the flight path or Eveleigh Street next to the heroin distribution centre but nowhere else.

What about the suburbs ? You don't like living there ?

KrisK
10-05-2008, 01:40 PM
No, the example we are looking at HAS that space, thats not what we are looking for.

Our budget is revised to 650 having just been preapproved for that..

Marrickville will allow us to get something decent for that money. We dont want to go further west then marrickville...

KrisK
11-05-2008, 07:34 PM
No one else?

evand
11-05-2008, 08:31 PM
I'll have a go.

A friend of mine recently bought a great 3br house at Hurlstone Park having been priced out of Marrickville/Duwlich Hill.

Hurlstone Park is now at the beginning stages of gentrification with Marrickville well underway and Lewisham/Duwlich Hill/Summer Hill/Petersham/Stanmore/Leichhardt etc already reasonablyquite trendy and priced above Marrickville.

You can tell whats happening to a suburb by the moving out of the original ethnics. Lebanese, Greek, Vietnamese etc. With Marrickville its a slow process probably because its such a huge suburb.

Beside Hurlstone Paerk you could also look at Ashfield or Tempe. The latter being very low priced considering its proximity to the city. It has problems with the flight path as well which i think is keeping its price down.

Ashfield is not bad and similar to Hurlstone Park demographically. You'll find a few bargains there i'd say in the current market.

But you just might be able to grab a nice free standing house bargain in Lewisham/Duwlich Hill/Summer Hill. Not likely but you never know. These 3 are great suburbs in my opinion.

btw: Had lunch in a restaurant in Haberfield on Saturday. Man, that place has gone ballistic price wise. Around $1 million for a nice 3 br federation house on a 350 - 400 m sq block with off street parking. Insane.

10-15 years ago, it was the daggiest place around and quite run down. These days you cant move with BMW 4wd's etc either living there or coming to experience the very Italian scene there.

Leichhardt is a bit over the top these days, more like an italian theme park suburb and Norton St has become a car park. I'd pass on Leichhardt. Also the flight path there is a pain. I used to tell people on the phone to hang on sec while the plane went over my house as i just couldn't hear them. lol

As you have probably noticed i love the inner West of Sydney. I don't live there (used to) and will again in the not too distant future.

Best place to live in Sydney i reckon.






No one else?

Highlygeared
11-05-2008, 09:11 PM
you might be lucky enough to get a small 2 bed semi won 200-300 sqm in Maroubra or Kingsford. Rare, but they come up. What about Zetland, Beaconsfield or even the northern parts of Rosebery? I'm an Eastern suubrbs nut. I know every nook and cranny in the East, sometimes down to the street number. $650K is not much but believe me, if you look diligently and act very quickly, you'll get something.

PM me if you like any of these and want to know the streets to look out for.

KrisK
11-05-2008, 10:46 PM
I'm looking for info on Marrickville, but thanks evand :P

dajackal
12-05-2008, 01:03 AM
Best place to live in Sydney i reckon.

hey evand, slightly off topic, but wondering what your thoughts are on investment potential for units in the suburbs you've listed =)

why is ashfield so much cheaper than its neighboring suburbs croydon & summer hill (units)?

how does ashfield rate on the gentrification scale?

evand
12-05-2008, 08:25 AM
What exactly are you looking for in Marrickville? What price range? Any particular area of Marrickville?

I'm looking for info on Marrickville, but thanks evand :P

KrisK
12-05-2008, 08:44 AM
What exactly are you looking for in Marrickville? What price range? Any particular area of Marrickville?

Information as to is it a safe area to live, general info, noise information (where can we find the flight path stuff? im having difficult finding out the times planes go across that area)

The area in question is Sydenham Road and north of it...

evand
12-05-2008, 09:18 AM
Yes its safe, plenty of families with small kids. I suppose safety is a relative term tho. I would have no problems with Redfern where it mights care the pants off you and your partner. But, yes, Marrickville is very safe.

If you like the mix of ethnic and gentrification (i love it) of a suburb on the move then you will love Marrickville.

The food/restaurants within a 10km radius would have to be the best and widest choice of nationalities in Australia i would dare to suggest.

It is truly amazing the quality and choices you have around there. Dead set foodies heaven.

Lebanese, Turkish, Vietnamese, Portuguese, Spanish, Chinese, Thai, African, Carribean, Italian, it goes on and on. And all pretty much run by migrants from these countries. Authentic and cheap and great quality.

Its not too bad regarding the flight path if you stay away from the Tempe side of Marrickville.

You dont need the times planes go over. There is a curfew between 11pm and 6 am.

Why do you need the actual flight times?

Best thing is to spend some time in the area and check out the planes.

http://www.infrastructure.gov.au/aviation/environmental/transparent_noise/expanding/2.aspx#3

Plenty of info online regarding flight paths.

evand
12-05-2008, 09:39 AM
I think pretty much the whole inner west is great for long term investment. (capital growth wise anyway, yield is crap and has been for ages but will improve)

I'm talking here about the true inner west (not the rubbery agents descriptions).

Summer Hill is pricey because its a trendy little village scene with cafes etc and nice free standing houses and semis. Great for couples and small families on decent incomes who want to be 'close' to the city.

Having its own train station right next to the village doesnt hurt either.

I think Ashfield is cheaper as its a bit further out (i'm not sure if its true inner west) and closer to Canterbury, Campsie etc) but it might be on the way up as well as people are eventually priced out of Marrickville etc.

All this is just my opinion, remember, research, research.

hey evand, slightly off topic, but wondering what your thoughts are on investment potential for units in the suburbs you've listed =)

why is ashfield so much cheaper than its neighboring suburbs croydon & summer hill (units)?

how does ashfield rate on the gentrification scale?

KrisK
12-05-2008, 11:46 AM
Thanks evand, i really appreicate the feedback. Do you feel the flats, towards enmore (Sydenham Road) are the areas that tend to be the worse parts? I know the hill area around Warren Road is the best area...

evand
12-05-2008, 11:56 AM
I'm not sure. I like the whole inner west and don't see a problem with any of it.

Enmore/St Peters is a little more grungy (if you know what i mean) Enmore is known as a goth area, there's punks etc. sort of like the old Newtown before the yuppies moved in.

The houses/blocks tend to be smaller than other parts of Marrickville tho as its older. Its all personal choice to fit your particular circumstances. (kids, future requirements etc)

Depreciator would be better to answer your question as he lives in the area and has a more micro knowledge (particular streets etc) than i do.



Thanks evand, i really appreicate the feedback. Do you feel the flats, towards enmore (Sydenham Road) are the areas that tend to be the worse parts? I know the hill area around Warren Road is the best area...

depreciator
12-05-2008, 01:41 PM
Kris PMd me.
I'm going to check out those streets for her.
Shouldn't be too much plane noise there. Close to a great primary school, if that's of any interest.
A bit far from the station - 15 minute walk.
Parking would be okay, though.
Five years ago there were parts of Marrickville that I was nervous walking through, but it's changed a fair bit recently. Of course, there are back lanes in any suburb that it's a bit silly to wander down at night. (I do tell my out of area friends when they are coming to visit that they should bring a gun if they have one - just to make them feel a bit edgy.)
Scott

KrisK
12-05-2008, 02:56 PM
lol Scott! And there hasn't been a shooting in years! hehe

We sat inside the place as a few planes went over, for us having never been exposed to it we went 'OH!!!' but im sure over time we would get used to it.

I also think you can combat it a bit with roof insulation and double glazing if thats that big of a concern!

roosterfan
12-05-2008, 10:03 PM
I bought a 1 br in August last year in Warren Rd, with a view to renting it out, but actually really enjoy living here so have stayed after my 6 months (FHBG)...top food and great cafes (Danas and Kelbys) and very cheap Vietnamese food. Aircraft noise not too bad, but I work at the airport so doesnt bother me! Just bought a 2br unit a couple of blocks away, would buy another if I had the cash

depreciator
13-05-2008, 10:36 AM
There would be more plane noise down where Kris is looking because they get some noise from planes landing there. Still not as bad as Tempe, Sydneham and parts of Leichhardt. In Warren Road you would get some takeoff noise, but with the noise sharing regime it's only the occiasional plane.

KrisK
14-05-2008, 08:56 AM
Well, we apparently exchange contracts at 9am this morning! fingers crossed

walked around the area last night, looks good and has a decent feel to is.

:)

Stayed for about an hour, only 1 747 jet had alot of of noise, the other two smaller twin engine planes weren't as bad..

depreciator
14-05-2008, 01:16 PM
That's great, Kris.
Nearest cafe to you would be The Marrickville Road cafe - best coffee on the strip I reckon.
If there were only 3 planes in an hour, they must have been take-offs i.e. you're under the landing flight path. And planes now take off so steeply that they don't make much noise when they get to Marickville. Except for that big plane that flies over most nights around 10pm. I have no idea what it is, but it always sounds like it's straining: 'I think I can, I think I can....'

KrisK
14-05-2008, 01:38 PM
Well no exchange so far, apparently family illness. I'm told this afternoon

Ha! I think i can :D I'm not too fussed about the planes really..

Yep, is that the older building near the Post office? that place looks quite nice for a Saturday morning brekky...

Fingers crossed we exchange, Im dying to celebrate!!!

evand
19-05-2008, 08:49 AM
How did the exchange go? I never heard of a family illness stopping an exchange. Surely theres someone else in the office to go.

KrisK
19-05-2008, 01:34 PM
Its all been done :) We exchanged, cooling off period finishes tomorrow, bank valuation all done and on the mark!

evand
19-05-2008, 01:42 PM
Congratulations Kris. I'm sure you'll love living in a suburb with such huge potential.



Its all been done :) We exchanged, cooling off period finishes tomorrow, bank valuation all done and on the mark!

KrisK
21-05-2008, 09:04 AM
Thanks evand :) heres hoping!!

Ajax
21-05-2008, 02:44 PM
I'm a bit unsure about Marrickville. I have a mother living in church run retirement accommodation there and have been visiting for the last 12 years. The restaurants are good value, good bakeries and food prices are cheap (butchers and seafood stores). The discount seafood outlet (Faros Bros) in nearby Sydenham is great value. There is also a cheap jean outlet (Levi's) in a factory area of south Marrickville and the Bond's T-shirt factory outlet in Sydenham.

It just seems a bit depressing in places. I've often seen antisocial conduct on the train station. Maybe its my own outlook on the suburb as I hate seeing my mother in this type of accommodation.

I lived in Redfern a while back. It had more issues then than Marrickville and was probably not as safe a suburb. Parts of Redfern are quickly moving upmarket. I presume Marrickville will as well as it too has some good residential areas.

ianvestor
26-05-2008, 11:34 AM
As just mentioned in the 'rents in Sydney' thread, he has just scored a new tenant, taking the rent from $350 to $400.

I was just speaking to Dad about his rent, and I'm not sure if I misheard him the first time or if he's just had a massive increase, but he's actually getting $530/wk now for the same little unrenovated house.

depreciator
26-05-2008, 11:45 AM
Crikey, Ian, $530 for an unrenovated place on that road is nuts. You're dad is doing well. I saw a queue on the weekend outside a rental property opening for inspection.
Yes, Ajax, there are definitely some lousy parts of Marrickville. It's the biggest suburb in the inner west and has a huge range of property.

shady
27-06-2008, 11:37 AM
Diggin up an old thread but I thought that THIS (http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=104803289&f=0&p=30&t=res&ty=&fmt=&header=&cc=&c=52939395&s=nsw&tm=1214527359) might interest those with a Buy-Renovate to increase yield-Hold stratagy

Seems the current owners purchased this property for $480k in Feb 08.
You may be able to assume that their circumstances have now changed and they cant hold onto it or afford to renovate it.

Might be an opportunity for someone

Innerwest
28-06-2008, 11:47 AM
What a bathroom!! If only a house could talk hey - this one would have seen some interesting times...

Good size place, but would cost a fair bit to fix up to a decent standard. Im not the renovator type so would prefer to buy something around 600 in the area that doesn't need time or effort.

I will be looking for an investment property in this area in the next 6 months (marrickville/ashfield) still debating whether to go for a unit or house.... I have a small terrace in Newtown and love the location and the capital growth :-).

ianvestor
28-06-2008, 12:40 PM
The last photo looks really spooky...

http://www.realestate.com.au/objects/props/3289/104803289gl1207631710.jpg

evand
28-06-2008, 08:44 PM
I inspected this house today (thanks Shady & Depreciator) and the photos are a compliment!! One of the worse houses i have seen, a dead set shocker.

At the right price (mid $400s) it would leave enough room for improvement but the agent is talking mid $500s. Tell her she's dreaming.

Diggin up an old thread but I thought that THIS (http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=104803289&f=0&p=30&t=res&ty=&fmt=&header=&cc=&c=52939395&s=nsw&tm=1214527359) might interest those with a Buy-Renovate to increase yield-Hold stratagy

Seems the current owners purchased this property for $480k in Feb 08.
You may be able to assume that their circumstances have now changed and they cant hold onto it or afford to renovate it.

Might be an opportunity for someone

shady
29-06-2008, 01:12 PM
I inspected this house today (thanks Shady & Depreciator) and the photos are a compliment!! One of the worse houses i have seen, a dead set shocker.

At the right price (mid $400s) it would leave enough room for improvement but the agent is talking mid $500s. Tell her she's dreaming.

LOL, sounds like a real 'fixer upper'.
I was wondering how you went yesterday.

tess85
29-08-2008, 11:16 AM
we are looking into the sydenham/marrickville/st peters area, although rather concerned about being under a flight path. My parents have mentioned the possibility of fuel dumping, or the hydrocarbons in the atmosphere... anyone have any thoughts on the health aspects of living in these suburbs?

depreciator
29-08-2008, 11:49 AM
Planes don't dump fuel over houses. Unless they are in real strife, in which case a bit of fuel would be the least of your worries.
This is a big area:

we are looking into the sydenham/marrickville/st peters area, although rather concerned about being under a flight path.

And much of it isn't under a flight path at all. Planes going over Sydenham in particular are so low that their footprint isn't very wide. But crikey if you're under it, you'd go nuts.

I'm not sure about hydrocarbons from planes, but I live in a city and I accept the fact that it's probably not the healthiest environment. I reckon living on a main road would probably be worse.

Scott

tess85
29-08-2008, 11:59 AM
thanks for the quick response. We've looked at a couple of places in the last few months that have been RIGHT under the flightpath... I'd go nuts too.

I've been reading up on various homeowners opinions... some who live in Sydenham reckon that the outside of the house goes black from the aircraft pollution.

Being close to the CBD, having quality of life & clean air, and being able to have friends over for a BBQ in the backyard is one of our priorities... but we're priced out of Stanmore/Newtown, hence the reason we are looking into places under the flight path.. not sure if this is a wise move or not considering we plan to live in our first home for 5+ years!!

depreciator
29-08-2008, 12:04 PM
Yep, I suspect that if you lived in Sydenham you would be hanging your washing out the dry in the yard. There is one street where tiles have been lifted of fthe rooves of some houses by planes. Sydenham isn't great.
I've long been a fan of Marrickville - bigger backyards on average than Sydenham, too.
Scott

tess85
29-09-2008, 02:26 PM
which area of marrickville do you think is the best?

I've heard lots about the Warren Rd area but can't see what's so great about it. Other parts eg. Illawarra Road, I'm not all that fussed about (v. narrow road, danger of getting your car scraped)...

depreciator
30-09-2008, 01:20 PM
Warren Road is lousy. So is Illawarra. And Sydenham. And Addison. And Petersham. And Livingston. All carry lots of traffic.
But interspersed are some good streets. It's like all suburbs, you can have a good street and then one block away, running parallel, you can have a lousy one. You really need to spend an afternoon there driving down a whole bunch of streets and drawing up a list of the acceptable ones. Sounds a bit anal, I know, But if you commit to an area, it's pretty good due diligence.
As an 'area' South Marrickville is elevated - views to either the city or over the river to Earlwood. But entry price is pretty high. It has a pocket called The Warren that RE agents love. (Warren Road isn't really part of the Warren, ironically.) But even in South Marrickville there are some lousy streets.
If you find any ads you like, send me the link and try and I'll tell you waht I think of the immediate area.
Scott

tess85
30-09-2008, 02:05 PM
Oh *light goes on* The Warren doesn't include Warren Road. Yeah there are a few crappy roads in Marrickville that we're trying to avoid. I'll keep researching & PM you any potentials :) thanks :D

ianvestor
30-09-2008, 02:17 PM
Warren Road is lousy. So is Illawarra. And Sydenham. And Addison. And Petersham. And Livingston.

No mention of Victoria Road on this list? ;)

depreciator
30-09-2008, 02:27 PM
Sorry, forgot Victoria Road. It's a bugger in peak hour.
Send links by email, Tess - I don't always remember to look at my PMs.