3 of Inner West’s water foreshore suburbs ~ Meadowbank, Rhodes and Breakfast Point

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Comparative analysis of 3 of Inner West’s water foreshore suburbs ~ Meadowbank, Rhodes and Breakfast Point

Why I like Meadowbank

· The Billbergia development at Bowden street and Bay Drive enjoys a more strategic location due over Ralan’s development on Belmore street to its close proximity to the Meadowbank train station and ferry terminal.

· Water views from these units enjoy a serene east and south-east aspect.

· Relatively quiet and secluded due to the south-end cul-de-sac of Bowden street and Bay Drive.

· Convenience of Aldi and Franklin supermarkets, post office, newsagent, delicatessen, cafe and restaurants in the Bilbergia development.

· Adjoining reserve / park which is great for walking, cycling and recreation.

Drawback

· Old warehouses and industrial facilities still occupy the north end of the Bilbergia development although it is understood that future relocation plans have been earmarked.

· The railway bridge on the west and south side of Bilbergia’s development may be unsightly to some.

Note: The Ralan development on Belmore street is less favourable due to its location being further away from the Meadowbank train station and ferry terminal. This general aspect of this development is south and there may be issues with natural light in certain apartments within this development.

Why I like Rhodes

· The earlier phases of Mirvac and Meriton’s developments along Rider Boulevard, Mary and Marquet streets enjoy closer vicinity to the Rhodes shopping centre and Rhodes train station. Ikea, Coles, Harris Farm, ANZ, Westpac, Bing Lee, Flight Centre, Optus and Telstra are major anchor tenants of this Mirvac owned shopping centre.

· I believe it is a suburb conducive to both investor and owner-occupier due to the convenience of the Rhodes shopping centre and strong rental demand.

· From an investment point of view, the Rhodes business park augurs well for the future development of this suburb. Major businesses located in the business park include National Australia Bank, Australand, Hewlett Packard, Alcatel-Lucent, Lion Nation, Unysis and Nestle.

· Walking and cycling track along the water foreshore towards Homebush Bay and Bicentennial Park.

· Close proximity to facilities around Sydney Olympic centre and Homebush Bay

· Well-lit, new and relatively large Rhodes train station with excellent disabled / wheel-chair facilities.

Drawback

· On-going cleaning-up of industrial waste on its water foreshores.

· Walker street being a major access road to Rhodes is unkempt and very poorly maintained by Council.

Why I like Breakfast Point

· Water views of this suburb enjoy the favoured north and east views of the Parramatta river.

· Apartment dwellings in this suburb are generally bright with generous amounts of natural light

· Generally more secluded and quiet surrounds and great for owner-occupier.

Drawback

· Only form of public transport is buses although neighbouring Cabarita has private ferry service.

· Depending on occupant preference, Breakfast Point has a relatively longer access from Yaralla street off Concord road which takes an additional 10 minutes by car compared to easier access to Meadowbank and Rhodes from Concord road.

 


Criteria MeadowbankPostcode: 2114 RhodesPostcode: 2138 Breakfast PointPostcode: 2137

Major developers Bilbergia, Ralan Bilbergia, Mirvac, Meriton, Rose Property Group, Breakfast Point
Public Transport Bus, train and ferry Bus and train Bus only
Local Council City of Ryde City Council City of Canada Bay Council City of Canada Bay Council
Aspect of water views Generally east view of Parramatta river, smaller extent south and west views Generally west view of Homebush bay, smaller extent east views of Brays Bay Generally north and east views of Parramatta river and Hen & Chicken Bay, smaller extent west views of Majors Bay
*UnitsAverage prices

Average annual growth

Average gross rental yield

$355,300

6.67%

5.70%

$554,696

2.19%

4.87%

$660,000

6.11%

5.12%

How to get there (shortest route from main local arterial road) 1km via entry point from Church street 500m via entry point from Concord road 3km via entry point from Concord road
Population size:Australians

18,694

8,150

17,568

Country of Origin:Born Overseas – Top 5:

Australia 61%

China 5%

UK 4%

India 3%

Korea 3%

Hong Kong 2%

Australia 66%

Italy 5%

China 4%

UK 4%

New Zealand 2%

Korea 2%

Australia 65%

Italy 8%

UK 3%

China 3%

Korea 2%

New Zealand 2%

Age statistics:

20 – 39

40 – 59

60 +

5 – 19

0 – 4

33%

26%

17%

17%

6%

30%

27%

19%

19%

6%

31%

26%

18%

18%

6%

Family stats – Top 3

Married 51%

Never Married 33%

Widowed 7%

Married 53%

Never Married 32%

Widowed 7%

Married 54%

Never Married 32%

Widowed 6%

Religion – Top 3

Catholic 35%

Anglican 18%

No religion 15%

Catholic 48%

Anglican 17%

No religion 12%

Catholic 51%

Anglican 16%

No religion 11%

Occupation – Top 3

Professional 11%

Intermediate 8%

Associate Professional 6%

Professional 11%

Intermediate 9%

Tradesperson 6%

Professional 10%

Intermediate 8%

Tradesperson 6%

Education – Top 5

Not attending (working) 73%

Infants / Primary 8%

Secondary 6%

University / Tertiary 6%

Technical 4%

Not attending (working) 73%

Infants / Primary 8%

Secondary 8%

University / Tertiary 5%

Technical 3%

Not attending (working) 75%

Infants / Primary 8%

Secondary 7%

University / Tertiary 5%

Technical 3%

Transport to work – Top 5

Car (Driver) 23%

Train only 8%

Car (Passenger) 3%

Train & Other 2%

Walked 2%

Car (Driver) 26%

Train only 7%

Car (Passenger) 2%

Train & Other 2%

Walked 2%

Car (Driver) 26%

Train only 4%

Train & Other 3%

Car (Passenger) 3%

Work at home 1%

Dwelling type

House 53%

Apartment 39%

Semi / Terrace 4%

House 85%

Apartment 6%

Semi / Terrace 6%

House 75%

Apartment 13%

Semi / Terrace 6%

Nature of occupancy

Fully Owned 39%

Rented 37%

Purchasing 19%

Fully Owned 55%

Rented 20%

Purchasing 19%

Fully Owned 53%

Rented 22%

Purchasing 18%

Monthly loan repayment

$1,500 +

$1,000 – $1,199

$800 – $999

22%

17%

15%

29%

16%

13%


32%

16%

11%

Source: Australian Bureau of Statistics and research by Australian Property Monitors

Specific analysis on the following projects available: 1. Mirvac, Rhodes: Aldina, Tandara; Meriton, Rhodes: Sienna By the Bay, Peninsula: Bilbergia, Rhodes: VQ Village Quay; Bilbergia, Meadowbank: Angas; Breakfast Point, Breakfast Point.

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