WA Buying in Perth

Discussion in 'Where to Buy' started by rhinsor, 8th Jul, 2015.

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  1. sanj

    sanj Well-Known Member Premium Member

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    Exciting! Details pls!
     
    sanj, 9th Jul, 2015
    #21
  2. C-mac

    C-mac Well-Known Member

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    Same as others here really, watching and waiting for the asking priced to start dipping further.

    In light of China's woes, WA's mining is not likely to pick up anytime soon, I'm thinking values will drop further as minin workers start fleeing Perth and WA in general. Once the population starts going backwards again (as it did, pre-mining-boom), prices will probably bottom out.

    I reckon 12-24 months time could present some good buying ops.
     
    C-mac, 9th Jul, 2015
    #22
  3. stumpie

    stumpie Well-Known Member

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    hi MTR
    yes in my searches i've come across a few of these suburbs but they are not dev sites but mainly single residential.
     
    stumpie, 9th Jul, 2015
    #23
  4. MTR

    MTR Well-Known Member

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    I purchased in Willagee about 12 months ago and everything sells, however I have noticed prices have dropped, these are development sites. This is what I think is happening, owners in the area know that the zoning will be endorsed/implemented in January 2016 so they are selling up but its flooded the market, damn it.

    MTR:)
     
    MTR, 9th Jul, 2015
    #24
  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    My feaso only determined 2 good scenarios for it and both were risky so it needed a price point to factor that in. It was an interesting exercise though.
     
    Westminster, 9th Jul, 2015
    #25
  6. sanj

    sanj Well-Known Member Premium Member

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    Yeah these are the sort of sites that keep ypu sharp! Always good fun working out possible scenarios.

    I'm kind of itching to get back into a couple of projects since I just finished one and have another finishing shortly

    Waiting for returns over 30%
     
    sanj, 9th Jul, 2015
    #26
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  7. barnes

    barnes Well-Known Member

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    Sorry guys for a stupid question, but I'm a bit new from overseas. Can you explain what is a big deal about zoning and how it changes your decision on buying or selling in Perth. Thanks for your help.
     
    barnes, 19th Jul, 2015
    #27
  8. MTR

    MTR Well-Known Member

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    Hi Barnes

    It means you can develop the land, dependent on zoning and size of land will determine the number of dwellings you can build on block.
    You can access further info from the various councils, Willagee comes under Melville City Council.

    MTR
     
    MTR, 19th Jul, 2015
    #28
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  9. barnes

    barnes Well-Known Member

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    Thanks a lot MTR for your answer. I understand it now. But how can these things change? And another question: what does zoning 25 mean?
     
    barnes, 19th Jul, 2015
    #29
  10. HD_ACE

    HD_ACE Game-Changer

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    @ barnes
    See below R-Codes 3.1
    https://www.google.com.au/url?q=htt...bhgALY&usg=AFQjCNGCR0NsSv-x2OKi9S7moCSoRZrN_g

    And explanation
    https://www.google.com.au/url?q=htt...bhgALY&usg=AFQjCNGMG8YfUX5UV1KrI_i_lcCQE70h8Q

    And directions 2031
    https://www.google.com.au/url?q=htt...ezWDwo&usg=AFQjCNHBFW3j6aHLG4Msj8w7VKBoBsN7qw

    Different numbers represent the amount of sqm each lot can be for that zoning which in turns tells you how many lots the block can be subdivided into.
    Zoning changes due to density demands.
    See directions 2031 for what WA is trying to achieve to cater for polulation growth.
    Enjoy the reading :)
     
    HD_ACE, 19th Jul, 2015
    #30
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  11. barnes

    barnes Well-Known Member

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    Thanks HD_ACE. I will study this material.
     
    barnes, 19th Jul, 2015
    #31
  12. Aaron Sice

    Aaron Sice Well-Known Member

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    I'm looking to build on my first foray into the market in a loooooong time.

    I have secured a duplex lot that is being sold as a single with a decent discount on top of that. Needs a solid point of difference in the market but is in a good location close to 2 satellite CBDs, 2 major transport routes, a fair distance from the Kwinana Fwy train line and 3 hubs of employment.
     
    Aaron Sice, 22nd Jul, 2015
    #32
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  13. Big Daddy

    Big Daddy Well-Known Member

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    Congrats mate. It is a large parcel with low zoning? If so, would 2x dual keys work?
     
    Big Daddy, 22nd Jul, 2015
    #33
  14. Catalyst

    Catalyst Well-Known Member

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    Sounds very good, @Aaron Sice :) Congrats!

    Where is this property - if you're ready to share the location?
     
    Catalyst, 22nd Jul, 2015
    #34
  15. MTR

    MTR Well-Known Member

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    Nice bedtime reading :)
     
    MTR, 22nd Jul, 2015
    #35
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  16. MTR

    MTR Well-Known Member

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    Great, look forward to updates.
    Is the end plan to hold, sell?.
     
    MTR, 22nd Jul, 2015
    #36
  17. Aaron Sice

    Aaron Sice Well-Known Member

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    Ultimate goal is to hold - but I realise I may have to sell one. One dwelling is better situated than the other, so it would be nice to get a better price for it - but running all number on the realistic minus 5% - @sanj style.

    It would be nice to hold both, with a combined finished LVR of just under 80% at (realistic - 5%) prices.

    If I do sell successfully at realistic prices, the remaining dwelling will have an LVR of about 55% which is outside neg gearing territory and a nice depreciation addition.
     
    Aaron Sice, 23rd Jul, 2015
    #37
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  18. sanj

    sanj Well-Known Member Premium Member

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    Nice work @Aaron Sice !

    Haha sanj style, nothing wrong with being conservative with feasos!
     
    sanj, 23rd Jul, 2015
    #38
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  19. OC1

    OC1 Well-Known Member

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    What do you mean @sanj , don't you find ways to believe that your proposed dwellings are worth more than what they are ? :D:p:p
     
    OC1, 23rd Jul, 2015
    #39
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  20. sanj

    sanj Well-Known Member Premium Member

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    Still working on my "developer delusion" Oscar! Give me time! I'll soon be paying way too much and ruining the market like half of perth did a couple of years ago
     
    Last edited: 23rd Jul, 2015
    sanj, 23rd Jul, 2015
    #40
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