WA Apartment in Perth - What Suburb?

Discussion in 'Where to Buy' started by Realist35, 16th Dec, 2016.

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  1. hammer

    hammer Well-Known Member

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    Depends how much you pay for it.... ;)
     
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  2. sanj

    sanj Well-Known Member Premium Member

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    Back to 300??? Didn't j get called an idiot when I thought prices of 400k plus were crazy?
     
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  3. Ross Forrester

    Ross Forrester Well-Known Member

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    Don't forget Hampson Road Nedlands. Limited future supply and two big employment centres with UWA and the hospitals.
     
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  4. Realist35

    Realist35 Well-Known Member

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    Would love to, but way above my budget:). 500k apartments..

    I've got these suburbs so far, because that's what I can afford for a 2/1 apartment, or even villa in Dianella:

    Wembley
    Osborne park
    Glendalough
    West leedervile
    Maylands
    Scarborough
    Doubleview
    Dianella

    Any thoughts?
     
  5. sanj

    sanj Well-Known Member Premium Member

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    Personally I'd strongly consider a 2 bed duplex in Morley on a decent chunk of land. They go from 275k odd to around 330k depending on condition and part of Morley and often inherent land value alone is more than the sale price and so there is imo a pretty compelling case of being too cheap in some aspects.

    73A Hamersley Place Morley WA 6062 73A Hamersley Place Morley WA 6062 - House for Sale #124147338 - realestate.com.au good example but I'd prefer west of Crimea of at least a bit further from Tonkin. Having said that it's still west of Tonkin and so doesn't veer too close to the edge of lockridge etc
     
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  6. sanj

    sanj Well-Known Member Premium Member

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    Gitrawheen option worth looking at too because when they grow they grow quick reminds me a bit of Morley a few years ago where in the dump in market duplex retainable properties were common just under 400k, pretty soon after the minimum jumped up to 450-475k and never came back under, even in current market.
     
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  7. sash

    sash Well-Known Member

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    Yep...all those devie sites in Girraween, Westminister, Balga, Rockie, Mandurah, Beckenham, Cloverdale....where people were fighting for have no demand....the supply is huge.

    Having said that there are suburbs now where you are buying at land value...but it could take 5 years for any growth.

    Interestingly....in places like Alkimos and Butler....the prices land has not gone down much..though the build price has. I tried to offer 50k off on a 280k land near the beach...got a terse no....more like get stuffed!!! No returns call either.....

    Oh ...I'll just keep going.....samething happened with a 400k land around the corner to the beach...offered 300k.....deafening silence at the other end of the phone and then a no....
     
  8. Ross Forrester

    Ross Forrester Well-Known Member

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    They do come up - just off Hampden Road. Built for uni students.

    Their is a 1 bedder listed now but a lot has just been taken off market for Christmas (I guess).

    Keep an eye out.
     
  9. Ross Forrester

    Ross Forrester Well-Known Member

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    23/381 Barker road subi is under 300k as well
     
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  10. sash

    sash Well-Known Member

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    Yeah lots those about...the question is how much rent will you get with all the newer stuff around? In otherwards how much are you going to bleed before you bleed out. : )

    Hard one with units.....to be or not to be........
     
  11. Realist35

    Realist35 Well-Known Member

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    Thanks mate, I think that one actually looks quite interesting and very very cheap!

    What would be the main drivers in Morley? Proximity to cbd?
     
  12. Ross Forrester

    Ross Forrester Well-Known Member

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    Yeah but if you were going for sub 300k I would prefer a suburb that has an established market for low value apartments than a suburb that can easily add stock.
     
  13. sanj

    sanj Well-Known Member Premium Member

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    Closeish to city and to your Mt Lawley/Inglewood lifestyle strop, close to Tonkin hwy which means easy access to significant employment hubs plus very close to airports,has all the big shops a suburban dweller needs to be closeish too, imo it's generally undervalued
     
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  14. sash

    sash Well-Known Member

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    100% agree....but there are lots of newer stock in Subi...I would have thought the NIMBYs would have pushed back with all the greenies around...
     
  15. Ross Forrester

    Ross Forrester Well-Known Member

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    I was probably just trying to indicate that subi, neds and sheets has stock sub 300k with great employment nodes and transport options.

    I haven't really looked at barker road. I prefer Neds but the stock their seems to have gone for Christmas.

    Thanks
     
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  16. sash

    sash Well-Known Member

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    I would pick up Nedland also...very low supply...some off cuts in good areas where you could put a house on for less than 700k.....sure it is small block but very good potential in the market....
     
  17. sanj

    sanj Well-Known Member Premium Member

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    No point building though when almost everything is going for significantly under replacement. Suburb has started moving though, a lot more under offer kmo but agreed excellent value in western suburbs
     
  18. MTR

    MTR Well-Known Member

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    My concern with Girrawheen/Koondoola and why I sold out was even with the developing at the time if the market had held up the numbers just were not stacking up because end values for this area is way too low.

    There are better options IMO for developing. Mix this with an oversupply of stock and low end feeder stuff in Balga just does not cut... of course I could be wrong
     
  19. Realist35

    Realist35 Well-Known Member

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    Hi Ross,

    Thanks for your suggestions. As always, very useful.

    However, I struggle to find anything sub 300k in those suburbs. Do you have any links?

    Also, Subi has 6% Vacancy rate. What are your thoughts on that?
     
    Last edited: 17th Dec, 2016
  20. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    With a budget of only $300k the list is pretty short :)

    It's certainly crap for developing but the link I posted was $309k and a rear battleaxe block could be subdivided and sold for at least $100k possibly even up to $150k leaving him with a house at the front for only $200k or so.
    I'd consider that to be better than an apartment in Wembley but it's still not ideal. The budget doesn't give much scope for 'good' stuff

    But that's just a thought to see if the OP wants to think about stuff like that.