Sydney Inner west apartments: 32/21-25 Coulson street, Erskineville

Unit 32, 21-25 Coulson street, Erskineville 1

FOR SALE: 32/21-25 Coulson street, Erskineville, Sydney

Apartment 2 bed, 2 bath, 1 car

Refurbished 2007

Size 85 sqm internal space including ground floor courtyard. It has security car space of 12.65 sqm and  a separate storage facility of 4.2 sqm.

Asking price Close to the mid $600k’s.

Erskineville is known for its vibrancy in terms of an alternative lifestyle among Sydney’s hip and Bohemian. This suburb is a mere 4.5km from Sydney CBD and 2km from the University of Sydney.

Location wise, this apartment is ultra convenient whereby it is within 300 metres to the St Peters train station, a 3-stop train ride to Central station. It is also within walking distance to the cafes and restaurants along King street in Newtown and Erskineville village shops and cafes.

This building was previously a light industrial premise but is now known as Star Printery Apartments. It has since been fully refurbished with modern conveniences and the professional team involved in this project include Turner & Associates architects and builder DeiCorp.

The apartment has 2 bedrooms both with built-in wardrobes opening out to an east-facing enclosed courtyard. The main bedroom has an ensuite.

Erskineville has been identified by Peter Koulizos, author of Top Australian Suburbs as one of the best areas to invest in 2010 along with other inner west suburbs such as Alexandria, Enmore and Darlington.

The downside to this property is that it may experience train noise due to its close proximity to the tracks.

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Vital statistics

Erskineville Median price $ Weekly advertised median rent $ Gross yield $ 3-year growth % 5-year growth % Average annual growth %
Apartment 490,000 500 5.3 22.5 16.7 6.8
House 650,000 570 4.56 15.04 14.04 7.3

Source: RP Data, June 2010


How it’s calculated:

Median price: Median price for the 12 months to February 2010

Average annual growth: Average percentage change over the past 10 years as a per annum figure

3 and 5-year growth: Median price percentage change over the past 3 and 5 years to February 2010

Weekly median advertised rent: Median price of rental listings for the 12 months to February 2010

Gross yield: Estimated rental return, based on advertised rent to median price

Property hotspots in Australia

Bronte beach

Bronte beach, Sydney

From a report dated 18 September 2009 by Matthew Liddy from Australian Property Investor Magazine, property hotspots across Australia are those where there is new transport, new infrastructure and high migration rates among other things. He has also advised that once a suburb is identified as a hotspot, it makes sense for investors to get in before the experts label it a hotspot.

Among the hotspots in Sydney, Bronte is the eastern suburbs is one of Australia’s most exclusive beach suburbs which have seen a significant drop in prices over the last year. Other hotspots include Haberfield in the inner west and Oatlands in the west of Sydney CBD.

Hotspots in Mebourne include Carlton due to its close proximity to the CBD and being close to Melbourne university, cafes and restaurants precinct. Kew in the east of Melbourne is the equivalent of Bronte in Sydney which has seen a significant drop in property prices.

John Edwards from Residex advise investors to cast the investment net wider in order to search for hotspots around the country. According to Edwards, Melbourne is set to perform better than all other areas in the east coast of Australia.

He singled out suburbs with a median price of around $350,000 to $500,000 will perform the best over the next 5 years based on existing economic scenario and forecasts.

Queensland has rode the property wave in Australia over the last few years and recovery from recent falls has been slower than the rest of the country. Manly in Brisbane’s east, located by the water is making up ground while prices in Newstead in the inner city is on the rise. Edwards has identified Carina, which is 7km from the CBD, as Brisbane’s top investment suburb.

In Adelaide, Peter Koulizos, known as the Property Professor predicts Torrensville as the suburb to watch. It is 3km from the CBD and is located between the city and the sea. Littlehampton in the Adelaide Hills has been identified as the best investment suburb.

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