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WA Bedford, WA

Discussion in 'Where to Buy' started by Perthguy, 26th Oct, 2015.

  1. Perthguy

    Perthguy Well-Known Member

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  2. MTR

    MTR Well-Known Member Premium Member

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    First link will possibly be a main road, dead give away no address.

    Second link, location OK.

    However, which option makes money??
    I have not looked at end values in this area recently, have you?

    I would prefer to cut up 2 green title blocks (495 sqm), 10 mtre frontage
    $35-40K costs
    Problem is end values, not enough fat, too much risk? and are there any buyers for this product today/now??? Who will pay over $500K for Bedford, I would not.

    Build 2 new homes, would need to be high spec, once again a small pool of buyers in the higher end bracket $800K+, very little profit, for so much risk. I would prefer to buy a cute cottage home in Inglewood for similar price, on smaller lot, superior location. This is the problem, in this market people are spoilt for choice, the only way its attractive is at a certain price point, no money in it for us??

    Retain house and build at rear, not in this area, not for me.

    Build apartments ? too much risk for me in this area. One bedders, too much supply at the moment everywhere for this product.

    MTR:)
     
    Last edited: 26th Oct, 2015
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  3. Perthguy

    Perthguy Well-Known Member

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  4. MTR

    MTR Well-Known Member Premium Member

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  5. MTR

    MTR Well-Known Member Premium Member

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    Its very tough market at the moment.


    I guess there will be those in Perth that are creative and can work out ways to make money, good on them:)

    I know an investor who can build 5 townhouses on his site in Willagee and conservatively can make 30% in today's market, quite amazing really.

    He sourced the right block, and it had very little to do with buying at the right price, it was more about what he understood about R codes to maximise profits and also reducing risk by building a product which is in demand - townhouses.... what the average person ignored because they did not have the knowledge. Knowledge is Power, that's a Oprah moment.

    MTR:)
     
  6. Perthguy

    Perthguy Well-Known Member

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  7. Perthguy

    Perthguy Well-Known Member

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    I am at least 12 months out from my next buy. I just want to follow the market down so that I am well informed when it is finally the right time to buy.
     
  8. Jamie_

    Jamie_ Well-Known Member

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    I don't think it's the case with this one, this agent in particular is a real pain in the ass when it comes to providing addresses. He ALWAYS does it.
    Check this out - his property listings.
    http://www.realestate.com.au/buy/by-lysmou/list-1
    11 out of 18 listings with no addresses...


    I still think Bedfords too expensive.
     
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  9. Zeehan

    Zeehan Active Member

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    If they don't advertise the address I know there is something wrong with it, and move on.
     
  10. Jamie_

    Jamie_ Well-Known Member

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    Not always, this guy blatantly does it to build up his database. As he puts in his adverts, no phone number no address. It's his way of removing tyre kickers.

    Don't get me wrong, I hate it.
     
  11. Zeehan

    Zeehan Active Member

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    Well he will never get a phone call from me! I hate it too.
     
  12. Jamie_

    Jamie_ Well-Known Member

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    Just to add, bit of a slope and on a main road.. close to the park though :p
    Haven't checked zoning, but assume its R30
    http://www.realestate.com.au/property-house-wa-bedford-121106710

    Seems realistically priced

    Edit: R20/R25 - not a duplex block? or is there some density bonus for being a corner block on a main road there?
     
    Last edited: 26th Oct, 2015
  13. Aaron Sice

    Aaron Sice Well-Known Member

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    there's an agent that doesn't know much - re second link orig post.

    WAPC approval to build 4 apts on an R25 lot? *cough pseudo bullsh i t cough*

    I think this person means 4 single bed dwellings - but not apartments. A little single bed townhouse might actually do well here with all the downsizers from the immediate location.

    re above post - why in GOD'S NAME would you promote that as a knock down?! the market for california bungalows is massive - especially ones with in tact woodwork and rend'd kitchen / bathroom. surely you would just fence the front, create privacy and seclusion and then subdivide the rear?
     
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  14. sanj

    sanj Well-Known Member

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    In this case you'd be doing yourself a disservice. This agent has sold many excellent properties with no address disclosed in the ad
     
  15. sanj

    sanj Well-Known Member

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    Excellent. Less competition for sites
     
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  16. Perthguy

    Perthguy Well-Known Member

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    Ha. I don't even read the ads, so I missed that. Have those changes been gazetted yet?

    When I looked at the pics it didn't look like a knockdown to me either. Particularly not in that area.
     
  17. Jamie_

    Jamie_ Well-Known Member

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    That would be the goal, but I don't think i'd be possible on R20/R25
    Too small
     
  18. Aaron Sice

    Aaron Sice Well-Known Member

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    min size R25 is 300sqm - looks like 300sqm to the rear easy?

    changes gazetted Friday gone.
     
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  19. Jamie_

    Jamie_ Well-Known Member

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    Min 300 Ave 350, which means the overall needs to be 700~ (I.e. 300 rear and 400 front would be acceptable to retain) (not including 5% variation) and it's only just over 600. R30, no problems.