Assuming you want a block with the potential for future sub division by you or a future buyer with a rent-able house. Even in Perth houses/blocks in the $200k to $300k range will be in undesirable suburbs. You need to pick very carefully what area within the suburb. Described in another recent Perth thread has a "hope and pray" type investment. You might find one with reasonable yield but expected capital gain won't be much in near future. WA - Perth market 2019
What about an old apartment in a small bock, on a large a block of land, as close to the city as you can find.
It really depends on what your strategy is. As @Chomp suggested there is a number of 2 bedroom villas/townhouses that I would consider that are less than 6km from the city and I would get one in original condition and do a basic reno on it (at some stage) Beware of strata and body corporate fees but there is probably some good buys out there In my #donenofeaso #buyerbeware list 4/216 Swan Street, Yokine, WA 6060 Unit 3/36 First Avenue, Mount Lawley, WA 6050 4/11 Outram Street, West Perth, WA 6005 3/22 Hindmarsh Avenue, Yokine, WA 6060
We have done a few of these recently. As stated above lots of "it depends" for what would suit you personally. Have done houses just above $300k and units sub $300k in last few months for clients. More info needed about your intentions, goals, risk profile etc.
After reading on here extensively. I am not sure when buying a "cheap" apartment in Perth became a good "investment". Perth people don't tend to be apartment buyers/dwellers. If team Silly Billy gets elected. Future buyers most likely will not be investors. So a property needs to be appealing to an owner occupier. Something like this perhaps? Close to public transport. Rent $250+ week. RE was very keen to sell. Doesn't need much work. Land in that area retails for $1000m2 (granted this land in tied up in a complex) Lots like it between this location and Perth. 2/65 Collier Avenue, Balcatta, WA 6021
Well it could be a good investment for a few reasons, 1. It's usuall a good investment If you bought it cheap 2. In a small block so strata's are usually low, no lifts, pools or gyms 3. If the block is underdeveloped compared to it's zoning you could get bought out by a developer 4. You could talk with the other owners, get plans and specs through DA and then sell to a developer 5. Because it's more likely to get rezoned being close to the city 6. People do and are apartment buyers and renters there are plenty of people living in them 7. In 2003 I bought a 2 bedder in Mt Lawley for 100k, it's my best performer to date
That is poppy ****! The demand for older smaller walk ups will outstrip supply in the future.....the older ones are better built...have more land content...and if they were to be replaced it would cost 40-70% more to build. The preference if you want one is to get one with the works - 2 bedrooms, eat in kitchen, LUG, balcony, internal laundry, and at least 65 sqm internally....
They do...if bought on the right spots. If anyone bought a 2 unit in inner Geelong vs a house in Logan it would have gone up much more...it probably did 200k gain. You could have bought in places like Herne for about 160-170k...now they are 290-320k. You could have bought at these prices in 2015. The same house in lower socio Logan places like Logan have done maybe 50k since.