WA New Unit in Byford

What are your thoughts on a new 3 bed unit in Byford - around 200sqm of land for a FHB around $250,000? Close to all amenities! Where do you see the property price in 5 and 10 years?

 

I’m asking for a friend so wanting others unbiased opinions

 

Seems awful for an investment. 200sqm that far out?

Fair enough if you want to live there - actually scratch that - I'd pay a little bit more and get more land, even if I wanted to live in that area.

 

Wanting to purchase as more of an investment than lifestyle.

 

Really? Then why would something like that even be on their radar?

Its hard to see any investment boxes being ticked there.

 

Hard to say where it will be in 5-10.

A villa in Byford would probably struggle to grow more than even an apartment in Perth for the same price. The train station might help but it will still be a long way away.

 

thanks, didn’t realise there was a rail extension planned in a few years but still I don’t think it would make much difference on demand/prices

 

I call new estates in suburbs like Byford - suicide estates. It's where CG goes to die.

 

I wish there was a laughing emoji on here

 

Too far out with too much vacant land (zero scarcity) for my taste.

What estate were they looking in @Propin ? 200sqm is very small for Byford. With $/seems so low in that area I don’t see why you would scrimp on land unless it was within the Byford Town Centre or right at the shops in The Glades. Imagine going to sell in 5yr competing with all the 350sqm lots...

Could be some upside potential from METRONET rail plans, as @Westminster mentioned, but I’d still choose elsewhere.

 

The location within Byford seems good. Walking distance to Coles and high schools.

When mining was in full swing in Perth in the past ten years some friends bought a house and land package in Armadale. They would like to sell it but it’s now worth a lot less so they just need to hold.

Once this unit is not brand new I think the price will automatically be worth $10,000 less due to FHB grant. When building costs go up it may go up in value. I can’t see the land value going up. I have no idea how many units are planned in the future. I don’t know that much about Byford to know if it’s a ‘great’ location within Byford.

I think about 8-10 townhouses in block but not positive.

What are your thoughts on location?

I drove through Byford about 8 or so years ago and there was pegged out blocks and estates everywhere.

I used to own a townhouse in Waterford Qld, similar size and block size, in a huge block of units about 40k’s out. As people started to build townhouses on duplex blocks and bigger land the demand for my complex went down. I purchased for $185,000 18yrs ago at the start of a cycle. It rose to $270,000 about 4 yrs later. I sold for $230,000 just over 2.5 yrs ago. About a year ago would have been worth $240,000. Now back to $230,000.

I prob came back even $$$$ but missed out on making money with a good investment. If only I sold after a few years!

 

Endless greenfield land in the area to be developed to ensure there is never any supply-driven capital growth, 45 minutes from the CBD on a good day, tiny plot of land, close to Armadale. Sounds like a terrible investment and lifestyle proposition, but that's just me.

 

I would buy in Armadale over Byford any day. Armadale actually has some half decent pockets for not that much money. Rental vacancies are on the high side though.

PS: I meant existing houses not new estates. Some new estates in Armadale actually sold land for over $250k - go figure.

 

Are the both the same cost to build? Is all of Armadale connected to deep sewerage and does Byford have clay?

 

Build costs don't change much or at all. Earth works will be similar as both suburbs have clay. Infact most suburbs south of Cannington seem to have lots of clay

AFAIK, deep sewerage is pretty prevalent. Oakford is a good example where many lots still don't have sewerage

 

If I had $250k to buy an investment property or a house to live in. Byford wouldn't even enter my thought process. A 500+sqm house block in somewhere like Clarkson or a Unit in Yokine/Tuart Hill (10ish km from city) would be more my thinking.

 

To be honest, it kind of amazes me you can get ‘anything’ new with 3 bedrooms and land in Perth for $250k! What would the minimum construction cost be for a 3br laneway dwelling? $175k full turnkey? Which leaves what $75k for land?!?