WA 1 million to spend in Perth WA

I agree with some of the comments above that schools would be a big driver, especially with 3 kids in double digits. I believe the consistent top public schools are Rossmoyne, Churchlands and Shenton College (excluding Perth Mod). The catchment areas for the first 2 schools are quite large, and have good choices at around the $1m mark. You might be priced out of the catchment for Shenton.

Woodlands could be a good option around that price point. Close to Churchlands SHS, plus close to Hale and St Mary's if that is the path you chose.

 

Hillarys or Sorrento you can still pick up a reasonable 4x2 with a nice pool and 800m2 for $1m. Walking distance to the beach and marina. Family friendly for the kids and a good choice of public or private schools and reasonable commute to the city.

 

How are Padbury and Heathridge area?I see many big size plots around 700 sqm going cheap for around 450K?You get half the land size or even lesser on suburbs just 5 mins away towards beach.Just curious if there is anything unpleasant about these suburbs.

 

i'd take padbury over heathridge anyday of the week, some parts of heathridge arent that bad though.

 

Heathridge seems to have big plots for reasonable money,however same is difficult in padbury.

 

Does any one have any idea why heathridge and padbury are having negative annual growth( as on reiwa) since last 10 years?

 

Wow I didn't see this and I love spending other people's money.

If you have no preference for either side of the river - and most people do then I would suggest

1. Dianella and send kids to John Septimus Roe ACS and not Dianella Secondary High. Waiting lists at JSR are non existant at the moment and you can send all 3 kids there for $15-20k a year (that's not each that's for all 3)
3 Roelands Place Dianella WA 6059 - House for Sale #128457250 - realestate.com.au

2. Menora and send kids to local high. There is a 2/3 bedder that could be extended in your budget. It's literally the worst house in the suburb but such good scope for improvement and a very very nice suburb. It's a beautiful PPOR location 22 Holmfirth Street Menora WA 6050 - House for Sale #128594374 - realestate.com.au . PS I love this house

3. Mt Lawley. To get something that big you'd need to throw around some cheeky offers but you might catch something 7 Longroyd Street Mount Lawley WA 6050 - House for Sale #128068142 - realestate.com.au

4. Gwelup. Solid area which is easy to get to everything. It's in catchment for Carine High but also often gets out of boundary places at Churchlands High. You can do well in the $900k price bracket
31 Careniup Avenue Gwelup WA 6018 - House for Sale #128467310 - realestate.com.au

 

A lot of Perth suburbs will show negative growth over last 10 years. It went up and went down and in some places went down further than it went up = negative over 10.

 

This is easy to see on re.com.au.

For example, Padbury (all houses) shows a peak of $569k in 2014. Whereas the currently the median is $520k.

It still is way up on 2009 though. The median was only $447k in 2009 (all houses).

Padbury Investment Property Market Data

 

Got it.Makes sense now.
If that is the case then I wonder where is the money to be made in perth real estate?
Most investment properties are neutrally geared and if there is not much annual growth then where is the money to be made.

Sorry for too many silly questions.

 

Well if you looked at year on year market movements you can see that money could be made during that time if you moved in and out of the market - or got revals and saved the equity to spend when prices dropped again.
Like the super advert says - past performance does not indicate future performance or something like that. Just because the current prices are the same in some places as 2008 doesn't mean your property will never go up in value.

The "easiest" way to help the market along is to buy something that you can add value to. But it's not easy and not for everyone.

 

The "easiest" way to help the market along is to buy something that you can add value to. But it's not easy and not for everyone.[/QUOTE]

@Westminster

Thanks a lot for response and contributing on this forum.
Could you give some specific example of what you mean by adding value?

 

Renovation, subdivision, granny flat etc.

 

@Rentvester

Thanks a lot.
Btw,do you know any books on how to identify a property and do a due diligence?

 

From 0 - financial freedom: how to do it today by steve mcknight is the one I am reading on currently. But I am sure the others will tell you there are heaps more!

 

Thanks,mate!

 

No probs, I just started on the first few pages, will let you know what I think. Do a search on the forum, there are plenty of resources recommended. Also try Jan somers's more wealth from residential property and story by story, a bit dated but good value imo, learnt heaps and heaps!

 

If you want to look at subdivisions then you need to know the rcodes of WA
Residential design codes

Some good books might be ones by Ron Forlee (for development/subdivision, due diligence and strategy), Steve McKnight (general strategy), Jane Slack Smith (for renovation and strategy)