WA Marmion -Perth as an investment

Just looking for people's views on an investment in Marmion as a suburb? Looking at an 800k property. 4 bedrooms 690m2 block.

What is expected in the Perth market over the coming 12 months. Capital Growth looks quite low in Perth. Is this due to the down turn and investors still being fearful? Is there a positive outlook?

For me being from Sydney it shows the best value to live or invest in a beach side suburb near to the city for under a million dollars. Keen to hear thoughts and any developments in surrounding suburbs happening?

 

Are we looking at the same city?

Yeah this sort of logic doesn't necessarily apply here. I don't actually think it applies anywhere actually - but you only have to look at mandurah, rockingham or suburbs like alkimos to see its not as simple as beach = profit.

 

Marmion is a nice family suburb. Old beach houses have been knocked over and replaced with solid homes. Looking on the map can be a bit misleading though as the beach is not particularly accessible, with limited parking. So not the expansive white sandy beaches that you find northwards. It is a series of little bays really, ideal for little children - if you can get a carpark. The state government marine research labs take up a bit of the beach too. There are a couple of good sized shopping malls nearby, at Whitfords, and Karrinyup. Marmion is probably a bit cheaper than neighbouring beachside suburbs because it doesn’t have much ‘soul’. I worked in Marmion/North Beach for almost 20 years. I could have lived there happily.

 

Amazing, that's really helpful and good to hear. Makes sense as to why it's more affordable than a Hillary's or Sorrento.

 

I think you will find school catchments drive a lit of CG, especially SHS catchments.

Marmion is Carine I believe, which is a bit up and coming, but not a catchment people go to bidding wars for.

That may be why it is more affordable than your Shenton / Willetton areas etc?

 

Carine High School is quite popular. I know people buy or rent in South Duncraig over Duncraig so they get into Carine catchment over Duncraig catchment. I’ve met people who were in the optional area of Churchlands and Carine and the chose Carine.

 

What's not to like about Marmion.
North of Perth south of Hillarys.
Close to beach.
A long board ride to Hillarys or Scarborough and good fish and chips at North Beach

 

I recently purchased in South Duncgraig for this very reason, so potential tenants can get into the catchment for Carine High School (makes sense to me).

Propin - do you think the catchment is enough to drive a price difference between North and South Duncraig.

 

800k for 700sqm Marmion would be a hard deal to find.

 

No way... Willeton is cheaper than Marmion by a few 100ks

Saw bidding wars when i looked at a few properties in Mullaloo and sorrento so don't see why Marmion shouldn't...

 

This is the typical book knowledge investor paradox. On the ground knowledge is important...

 

Yes. I think most of South Duncraig has a lot of nicer, bigger houses too.

 

What ????! Sorry but it's the other way round hillarys and sorrento is more affordable than marmion ..

 

@Popo7 hmmm... seems like opinions vary. And that's ok.

In my experience, all of the suburbs mentioned have different 'pockets', especially the immediate vicinity to a nice beach / view / park vs suburb overall. That means medians can be misleading (3m beach front + 0.8m 3 rows back =》 high median, but that means little).

OP was looking at sub $1m, so clearly not beach front? Meanwhile Wiletton is marching towards the $1m median just for ypur run of the mill average house.

I get that everyone knows an exception to every rule, but there are school rankings, etc. Carine clearly has a fan club, but it just doesn't rank. Sorry.

Anyways OP, I think the suburb is fine. It may well gentrify further.

 

I agree all opinions vary and you are entitled to one. Fully respect that. I look at median price Marmion which is 1.12 million while Willeton is 810k. I agree beachfront properties will command a higher premium than ones further out so there might be an uneven distribution depending on area. But even Carine has a higher median price than Willeton and there is no beachfront properties in Carine.

I understand school ranking is a factor and to some people it is very important but if it were the deciding factor then suburbs like peppermint grove and toorak will be cheaper than willeton or balwyn. ( i used perth and melbourne as a reference here). But no peppermint grove and toorak are probably few millions ahead.

Therefore what does Marmion have? Obviously a beach and a nicer upmarket look to suburb than willeton. But also many top private schools that are close by. That is why rich people living in peppermint grove don't need good public schools as they can send their kids to private. Private schools in general are better than public. I would be cautious to just rely on one factor eg school zone as school rankings change over time. Thus i prefer marmion or carine over willeton and prices reflect it.

I would also like to add carine high school is almost on par with willeton based on scores... with a better ranking primary school for carine

 

Anywhere between Trigg and Hillarys is going to command a decent price. You will now struggle to get a 4x2 in Marmion for less than $1mil. Duncraig is now achieving $1mil for a 4x2 and the houses/blocks are decent. Willetton looks less than that, so Willetton might be your only choice.

Carine SHS is a great school and it seems the school drives the demand of house prices in Carine and surrounding suburbs.

 

Agree with this comment. Sorrento is much better than Marmion and Hillarys, but i would choose Marmion over Hillarys. I find Hillarys doesn't have a direct link to the beach. Marmion has no bushland separating the beach from housing. Buying an old house in Marmion would be better than the equivalent in Hillarys.

 

I personally think ocean reef or connolly would be good suburbs to invest since sorrento and carine is becoming too unaffordable

 

Disagree, Carine high is very popular and prices in the catchment (especially north of the school) reflect this.

Personally, I love Marmion. There is an interesting 3x2 unit + 1x1 granny flat for sale there right now.