Saw this stunning block for sale today. "Urgent sale before eofy, 399k +." It was purchased in 2006 for 870k. Ouch! Not an uncommon story for Dawesville/Mandurah region tho. Is now the time to buy in his region?
Interesting. If you build a two story water front house on that block, is there a market to rent out the property? Or would it be purely suited to PPOR?
ouch, and double ouch You may be surprised what you can find at the moment with water front views and perhaps even better buying?? There are many distressed sellers in Mandurah been like this since 2007, 500K+
I can confirm this. Also there is so much choice in Mandurah. Whether its time to buy or not is another story, as I said market has not recovered sine 2007. I don't see amazing growth happening in the near future, fundamentals are not right. When you have way too much stock its pretty difficult to achieve growth. However, if it were a primary residence/holiday home then that's a different scenario, you can buy my holiday home if you like... LOL MTR
This is the old Halls Head? I think has most potential in Mandurah, that just my biased/opinion. We purchased in old Madora Bay, beach views around 2001. However similar scenario, we stopped using it and when we did, spent the w/end mowing lawns etc. It is now rented out. Holiday homes are great but I wonder whether we get stuck, there are so many places to travel and visit. Lots of money tied up in a holiday home, I think I would rather be going to Greece, Spain. All to their own I guess.
I agree, I'd much rather be travelling. Our is in old Halls Head about 500m from the beach where Dome Cafe is, if you know it.
I don't think the return would be good enough to rent out waterfront. You'd either build the wrong house to make the return okay, or be seriously negatively geared and I'm not sure the demand for rentals in the $700/wk+ space. I'd say PPOR only. That said, it's a good value block! Beachfront here in Old Madora is going for $600k plus with an old shack to demolish. And they're selling quick, too. Where's your's @MTR? I might be interested
There's an elderly lady with the weirdest shack you ever saw, right on the beach. Selling privately, wants $800k after being told it would get $1.1M in the boom. She's not selling until she gets enough cash to move to Dalkeith.... She'd be lucky to get $600k at this point, especially with the asbestos on site. Corner block though.
Wow that is some ouch. I always wonder why people never build on these blocks after buying them. If you liked golf, surfing and watersports it would be a great place to live. Def PPOR type place.
https://www.realestate.com.au/property-house-wa-dawesville-138276862 close to ocean and huge land----opinion for an IP?
This is a blast from the past what we see here is Mandurah had a massive boom cycle from 2001-2007. We are now 2021/2022 seeing the upswing in Mandurah, prices are now rising Mandurah is a buy atm.
Dawesville might go up bc everything is going up... but in reality, it's a halfhour drive to get through Mandurah and into the freeway into Perth. So while it's lovely, it inconvenient. I wouldn't buy an investment there unless you had a specific way you were going to make money out of it - for eg, subdiv etc.
Even 12 months ago we were looking at Mandurah prices (and rentals) and shocked at low prices I know a few people who work in the city and live in Mandurah, taking the train to work each day, then there's the miners who enjoy living in Mandurah (or Busselton/Bunbury) and travelling north for work
For sure - but Dawesville is still a decent drive out of Mandurah central. 20 min drive to the train, then an hour to the city is a long commute.
A little closer to downtown. https://m.realestate.com.au/property-residential+land-wa-halls+head-203199278
