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Current & Upcoming W.A HOT SPOTS?

Discussion in 'Development' started by LifesGood, 29th Jun, 2015.

  1. LifesGood

    LifesGood Home Building & Development Consultant Business Member

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    Not currently looking to invest, but as I continue to research and LEARN I am discovering that my knowledge is quite isolated.

    What are the current and future property development hot spots in WA? I know Balga & surrounds and have their day and City of Wanneroo/Joondalup have re-zoning plans in the works....but what else is going on out there?

    Be interested to hear your view on what's currently booming and what's next!?
     
  2. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Depends on what sort of development/product you are wanting to achieve and the budgets required.

    We have rezoning areas
    -Forrestfield/High Wycombe
    -Ashfield/bassendean
    -Beechboro/Lockridge/Kiara/Eden Hill
    -Girrawheen/Koondola
    -Wannaroo
    -Craigie/beldon/heathridge/padbury
    -Hillaries
    -Mirrabooka ??

    There will be opportunities in a few markets and areas in the coming months. Just keep your eyes on the end values.

    IMO i see value in the corridor east of Perth going Maylands-Bayswater-Ashfield-Bassendean-Guildford so I will be watching closely to see what comes of it.

    But theres so many variables and the budget is going to most likely be the factor that decides the areas.
     
    Last edited: 30th Jun, 2015
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  3. Aaron Sice

    Aaron Sice Well-Known Member

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    I am also watching Bayswater and inner Guildford like a HAWK. I wish Bayswater planning would look at some R25/40 splits in the Bayswater centre-periphery there; and Guildford would get rid of that R5 protective zoning behind the cafe strip - only way to make income there is to add an ancillary dwelling.

    I love Bassendean but the council there....yikes. Pass for now until a change of guard.

    I also see Mosman Park / Cott prices are coming down to "palatable" - I actually saw a strip of land for sale in Cott and it was reasonably cheap. It won't be long until others also notice the 'value'.

    Leederville is 'nearly' there, and Vic Park is still looking good.
     
  4. MTR

    MTR Well-Known Member Premium Member

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    Not currently looking at Perth but keen to see if others can start to make it work, will keep a close eye on this thread and I am hoping for some opportunities. I'll sit and watch.

    I do like Bayswater

    Aaron
    Do you know what people want in this area, Bayswater. Seems like units/townhouses are really old, there is a real need for new product?? Am I right, I have not looked closely at this?? I think the area has lots going for it.

    MTR:)
     
  5. Arnel

    Arnel Well-Known Member

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    I'm looking around gosnells and maddington, massive blocks. Trying to stick close to public amenities eg rail school shops POS
     
  6. Aaron Sice

    Aaron Sice Well-Known Member

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    Maddington / Gosnells will be difficult to develop with a profit due to the City of Gosnells double dipping with developer contributions and the likely flow on effect of "build strata POS contributions" that CofStirling are attempting now.

    Bayswater - if that junction line ends up there, watch out. Will probably end up an MRA area.

    But for the moment - single bed villas seem pretty popular and continue to sell well regardless of age.
     
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  7. MTR

    MTR Well-Known Member Premium Member

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    Watching, watching:) thanks
     
  8. HD_ACE

    HD_ACE Game-Changer Premium Member

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    What I have noticed is the larger blocks especially street front sell well and fast. IE corner blocks or wide frontage blocks cut down the middle. The blocks that are cut into 3 small blocks sit on the market. Theres still some from 12 months ago.

    And Also seems to be a lot of full blocks being bought, demolished and 1 large house being built. Especially on the river side.
     
  9. MTR

    MTR Well-Known Member Premium Member

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    Thanks that's interesting
    What size are the smaller blocks?
     
  10. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Around 300sqm. 400sqm + seem more popular. Dependant on price ofcourse.
     
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  11. Ken Low

    Ken Low New Member

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    Hi everyone. I am new to this. Any observation./comments on the southern corridor? There seems to be tremendous development in the Success/Atwell areas. Most land in those areas have alreaady been developed and sold. I am looking at the next up and coming suburb, Banjup. It is located just beside Success/Atwell and Stockland is going in in a big way. Currently there are still acreage properties available.

    Any comments?
     
  12. Aaron Sice

    Aaron Sice Well-Known Member

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    you mention acreage - looking to landbank for future subdivision?

    google "Perth & Peel @ 3.5million".

    Banjup is difficult to get into - we've looked slightly more eastward to Piara Waters.
     
  13. mrdobalina

    mrdobalina Well-Known Member

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    At first glance, it looks like a long time horizon out to 2050. How do you translate that to a plan and areas to target for the next 5-10 years?
     
  14. Aaron Sice

    Aaron Sice Well-Known Member

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    It highlights areas currently well served by infrastructure and likely to continue that way.

    shows current and future demographics and employment trends.

    etc etc.
     
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  15. Big Daddy

    Big Daddy Well-Known Member

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    If your site falls within the Station Precints, Corridors or Activity Centres then can you apply to WAPC for rezoning now? As you did with the Rosehill Golf Course Redevelopment from Rural to Urban?
     
  16. Aaron Sice

    Aaron Sice Well-Known Member

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    Rosehill is different and can't be used as precedent for anything. There's nothing like it to make comparables with.
     
  17. PhoenixRise

    PhoenixRise Member

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    we are just finishing up a 6 unit development site in Gosnells and got slab down on our next 6 unit site 2 weeks ago.

    Land: 912sqm R20/60 = $500k
    Contribution+Development+Constructions: $1mil
    6 units average valuation came in at $330k each = $1.98mil
    consist of (2) 3x2 and (4) 2x2
    Profit = $480k

    Looking to do the same with the 2nd 914sqm block

    Expect to net just short of 1mil just under 24 mos.
     
  18. stumpie

    stumpie Well-Known Member

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    @PhoenixRise - great outcome on your project. Are your developments apartments or villas?
     
  19. PhoenixRise

    PhoenixRise Member

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    they are nice size apts, around 98sqm for the 3x2 and around 78 for the 2x2.
     
  20. Arnel

    Arnel Well-Known Member

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