WA Perth market 2018

{Note from mods - this thread continued from here: WA - Perth Market 2017}


3B Skew Road, Bayswater WA 6053
3B Skew Road Bayswater WA 6053 - House for Sale #126774350 - realestate.com.au
Thoughts?

 

What for? Investment property or main residence?

 

Main residence for myself and wife. No kids.

 

Terrible for investment. As a PPOR then its personal preference, but I would have thought you could get better for the price in lots of ways.

 

Thanks, it's PPOR for us and was thinking due to proximity to City and train station. But will be PPOR for at least 5-10 years.

Also just so I understand, what make it bad investment? Just due to falling rents and return on investment in the current market?

 

It's quite close to bayswater industrial area

 

Ahh ok, I see it's 500m from the industrial area. How far property should be from the industrial area to be good in Bayswater?

 

I know the area well. It's not the worst part or the best part of the suburb. It's neutral and central. And for the price (with a bit of negotiation) won't be a bad deal either (a lot depends on your personal circumstances). You can probably buy a survey-strata block for below $250k and build a house to your liking for similar money.

South of Guildford Rd and closer to the river generally commend a higher price but may or may not necessarily be a better quality asset.

East of Tonkin highway, I would avoid unless you find something close to the water or an absolute bargain.

 

Thanks, we are first home buyers and wanted a property under $500k including all the buying cost. We looked into building but we are inexperienced and have been put off building from friends due to stress of building, cost blowouts and involvement required. We have the deposit ready and wanted somewhere close to city and train station within our budget. Do you think asking price is a reasonable for the area and property?

 

Similar properties sold for $550k during the boom so it's not a bad price in comparison but the boom is over! I think there is room for negotiation if you are keen on the property.

 

Thank you!!

 

If you are not in a hurry, do take your time and explore some more. It's not like Perth market is moving.

 

Looks like its a great time to upgrade your PPOR in Perth if you are wanting to upgrade. Its at its very bottom I think. Perth values wont move any time soon.

There are some decent looking villa's with reasonable sized courtyards in the low $300 k in areas I'm looking at such as Yokine, Dianella, Tuart Hill, Joondanna and Inglewood, Noranda.

I'm wanting some more space. I'm sick of living in a tiny 40 sqm unit. Looking forward to a garden

 

This looked interesting to me
11 Parnell Road, Hamilton Hill, WA 6163 - View Sold History & Research Property Values - realestate.com.au
You can see in the photos in that link which has new photos as well as the older ones to compare.

Seems they chopped off the back, reno'd the front (looks awesome to me) and now selling the original. Don't know what they did with the land.

Question is .. since they purchased so close to the peak and prices have come down so much, I wonder if they made much on all of that work. Feel sorry for them because looks like they did everything right and was just real bad timing.

Also interesting that rent for the unrenovated property was 595/wk back then when they purchased it for 635 so yield was a whopping 4.9% before doing anything else. You guys had crazy high yields for a while there.

 

Hard to say as they don't have a price on the front and I can't see any records for the rear so I'm going to assume they are going to build in the rear still and not sell it off as land.

 

Could it be that the supply is starting to show signs of tightening, with the anticipation of better economy and job perspects?

 

no idea, I am not buying till I see the market start to rise, its too early its a buyers market.

 

Personally I think a great time to buy is when it appears to have bottomed, there are different and multiple indicators of improvement in market and while it's still a buyer's market, after all by definition a buyer's market is good for buyers

 

Really go for it.... thats guess work, not the way I operate, I want to make money, I will wait until I see a rise, easiest way to make money

Yields are woeful

 

Which part of multiple indicators and an improving economy points to guesswork? Like I said I see rises already hence my renewed interest in the market.

I do enjoy the smug response after saying a previous post of mine was condescending though. All good we're all adults