WA 1 million investment ideas Perth.

Guys I need serious help.

Is it good time to invest in Perth?
Which suburbs are best value and bargains ?

I want to invest about one million for an investment (long term) which I can stay as well with family and downgrade after 10 years.

I want to avail opportunity of low prices.

Kindly share your thoughts.

 

Hello!
Are you looking to buy a PPOR that will go up, then, or an actual investment property?

 

So many blue chip choices in that price range. All the inner ring suburbs plus burbs around Booragoon in the South, and Floreat and surroundings in the North.

My personal picks would be Mt Lawley, Vic Park, North Perth. Many of the suburbs North of Leach Highway (starting from Shelley).

You need to have a few more parameters to narrow down your search. Yields? A large land component or nice house? Zoning preferences?

 

What LVR is this 1 million investment going to be? You better calculate your holding costs if its an investment vs the LVR you are taking out.

If the yields are extremely low you better hope that the amount of money your putting into the holding cost of the property is much less than the capital growth. In fact you better hope the capital growth is multiple times of the holding cost for it to be anywhere near worthwhile.

 

I thought the OP meant he would live in it, not rent.

 

Jess thanks for reply.

I need a primary home what has potential to go up


What is PROR?

 

You

You are right I will live in and I will not borrow it would be cash purchase.

 

How about hills ?

I am looking for areas which were more than million before and now they are down. I want to benefit from bottoming market. Thanks

 

Hills are nice if that is your scene. Plenty of value to be had in blue chip suburbs considering that many got hammered.

 

Blue chip for 1 million?

It's a kind of awkward price point for Mount Lawley, Inglewood, North Perth, Nedlands and Dalkeith. Not sure where 1 million/blue chip works as a price point.

Any hints for the OP?

P.S. I know little about these suburbs so could be completely wrong.

 

PPOR Principle Place Of Residence ie your home not an investment property.

As to capital growth t only occurs if in the future someone else pays more for it.
Some interesting reading here 3 years, 3 properties, $400k equity, what now???

If you want to buy a 1 million dollar plus property below market value will require you to do a lot of footwork/research or find a good buyers agent

 

Brother this post was part of the research loo

 

1 million will surely fetch decent stock in many of the suburbs I listed in the first post. OP has to narrow down his search or have more parameters.

 

I would suggest getting yourself one of these maps, the cost is about $30 and it will help to show you the locations that fit within your budget. Perth Median House Price Map Shows Perth Property Prices - reiwa.com

With respect to living in the property do you have any wants, for example:

• Commute to work;
• Condition of the dwelling;
• Ongoing maintenance of the house (garden upkeep, etc);
  
• Size of the property; or
• Amenities of the property (ac, bathrooms , garage).

It ask sounds like you're a bargain hunter. This is not always location specific, it depends on the motivations of the individual sellers.

A focus on grow is important, but remember that it comes with compromise. An example of this is land component value, more commonly known as the worst house in the best street. Higher land value correlates to better growth performance (there are various interrelated factors which contribute to this) but often it will come with a ****** house. So ask yourself, can you handle that?

In terms of suburbs, I like large blocks in Maylands (boom time prices were around $1000sqm+) now you can pick up stuff around $700-800. Another market to consider for more liveable stock is Bateman, Leeming and Bullcreek. It's close to Fiona Stanley with plenty demand drivers. A structural catalyst for price growth is a mooted review of the zoning around the hospital (early days). However, prices in these areas have held up pretty well.

Hope that gives you some food for thought...