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Anyone have thoughts or advice on Modora Bay, near Perth?

Discussion in 'Where to Buy' started by big max, 7th Dec, 2015.

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  1. big max

    big max Well-Known Member

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    Any thoughts appreciated.
     
  2. JohnPropChat

    JohnPropChat Well-Known Member

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    Madora Bay is part of Peel. Had a surge in prices cause of new estates during the boom. That and Lakelands. At least Madora bay is on the beach side. Most of the stock is brand new 4x2 or 3x2 but a bit overpriced, IMHO.
     
  3. JohnPropChat

    JohnPropChat Well-Known Member

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    For similar money, I would probably look at Shoalwater and surroundings. Closer to Rockingham(satellite CBD)
     
  4. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    I live in Madora Bay so I might be a bit biased.

    Opinion - I love it. There's nowhere I'd rather live.

    There's so much new development happening AND in the pipeline that I can't see prices appreciating a great deal in the near term. Too much supply.

    Lakelands is getting a new shopping center in 2017 that has Kmart, Coles and Aldi.

    The whole area is growing like anything - new school only opened this year in Lakelands and already has to get dongas/transportables in to cater for all the kids.

    If I was going to buy, I'd get big a old shack beachfront in Old Madora that you can reno and will be able to be subdivided if/when sewer comes through. Or, if you can, look into buying a new lot and building a duplex - there is almost zero duplex/townhouse product in Madora Bay, it's all houses.
     
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  5. JohnPropChat

    JohnPropChat Well-Known Member

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    Didn't know that parts of it are lacking a sewer. Is this a fairly common thing further south - San Remo, Silver Sands, Meadow Springs?
     
  6. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    I think maybe just Old Madora?
     
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  7. Ben Wilkie

    Ben Wilkie Member

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    Like Jess stated just the older part of madora bay I'm in meadow springs so happy to help with questions if I can .
     
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  8. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    There are a few of us PC'ers down here, we should have a Mandurah get together at some point :)
     
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  9. big max

    big max Well-Known Member

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    What kind of price we talking? Around 500k or so for a few streets back fro the beach, 800 sqm block?
     
  10. MTR

    MTR Well-Known Member Premium Member

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    Old Madora Bay beach shack, one street back From beach, dependent on condition of shack around 400-450k. Last boom these would have sold for around 600k, just to give you an idea how hard this market has been hit.

    Also though blocks are large, not on sewerage and not earmarked for sewerage, so don't expect zoning to happen anytime soon. Lots of land in Mandurah


    MTR:)
     
  11. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    We paid just over $500k about two years ago for ours, we're 2 streets back, normal house 4x2 with pool. Dated but not a shack.

    I think we'd probably get similar price for it, if we sold it again today. Block is 700 odd.
     
  12. big max

    big max Well-Known Member

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    Thanks. Can someone explain the sewerage thing? If no sewerage where does all the human excreta go?

    How about water? Is that piped or have tanks? Is the drive from Perth an easy one?
     
  13. MTR

    MTR Well-Known Member Premium Member

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    Septic tanks, nasty
     
  14. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Septic tanks, not nasty at all - it's no different really.
    Piped water. Straight up the freeway into the city, or by train which takes about an hour.
     
  15. sash

    sash Well-Known Member

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    Yep...I built in Lakelands for a nudge over 300k .....still rented...and the shopping centre will keep the value there and over the road in Madora Bay.

    Now all it needs a train station.......:)

     
  16. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    I heard a rumor about a station - no idea if there's any truth to it though. Long term, though, I would say it's a certainty.
     
  17. MTR

    MTR Well-Known Member Premium Member

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    Jess
    we paid 199k about 2002 beginning of boom, approx 803sqm, one street back from beach, it's a beach shack
     
  18. sash

    sash Well-Known Member

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    Yes all the infrastructure is there....I am hearing that is is 5-10 years away. But given the growth in that corridor it could be sooner than that....
     
  19. big max

    big max Well-Known Member

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    Nice!
     
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  20. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Do you still have it? And if so when are you coming down? ;)