North Perth R60 - do the numbers stack up?

I would not buy it, have you looked at this precinct lately?

there is an oversupply of these products and there is more coming to the market?

My point is the numbers today will be wrong in 12-18 months time because there is so much more stock in this locality that will be coming to market, it will be a "how low can you go" if selling.

Too much risk IMO.

 

Having come from Cronulla which is similar distance south, land, rivers etc I see the potential, it's just about 50yrs behind in forward thinking/planning.

Reason, the majority vote in power at Mandurah Council have been like most of its population/voters, "old", they don't like change, still think it's their sleepy little fishing/holiday town down south, fearful if they let the younger gen have the majority it will become Surfers Paradise.

Long rant short - Compare Joondalup with Mandurah, excluding Lake vs Estuary (which I believe gives Mandurah more appeal) both have similar land areas/planning potential, but Joondalup is younger and Miles ahead and have worked very hard incl with State Gov to get it that way, overall the most important part, creating local employment opportunities which Mandurah has minimal, high unemployment, druggos, crime etc.

There's no parking at the train station after 7am, those willing to travel that work at Kwinana, Canning Vale etc have no choice but to drive, make it a long costly day, easier to be on the dole.

End Rant...

 

Yeh and talk about putting the train station in the middle of nowhere!

 

Yea that's an isore sitting next to our main drag, welcome to beautiful Mandurah, on the right you'll see... sorry please look to the left.
Another sore point for me, that was a state transport planning thing (Mctiernan, Labour) Mandurah Council are gutless in negotiating.
Should see the new foot bridge from nth end of station across hwy to bush Libs just spent 16mths constructing, think I've seen 5 people use it, prob just checking it out, would have been better putting the coin towards an overpass from Allnutt to Murdock.

I reckon the train line should have continued down the guts of the fwy to Ravo, so it was central to all upcoming development areas either side of fwy, swing it round to meet the Pinjarra/Byford etc line, through to Airport. Have multi-story carparks with shops and undercover bus ports in surrounding suburbs all feeding stations.

One of the issues many congest the fwy is you live a warm house, get up, get dressed, have breaky, go from kitchen to garage, get in your car, hit the door remote and its cold and bucketing down outside.
Driving to the station thinking about parking 500mtr from the station and spending the day damp, or think bugger it I'm driving, spend the trip in the comfort of my warm car in privacy, no one in my space etc

Not getting double decker trains is just stupid! carry more, less maint etc.

 

@Aaron Sice what's RDE? and @Westminster not using Inspired Homes for this one?

 

Numbers don't stack up as nicely building brick, so she went timber frame.

 

.....compare Cottesloe to Rockingham foreshore....!

@LifesGood - RDEs are City of Vincent Residential Design Elements. To do with staging and setting upper floors back from the lower floor etc.

 

No surf (like most of WA) but give me the layout of Rocko foreshore any day (blue bottles can be an issue though, dead pinkies and more washing up on the beaches from Cockburn at the moment to, something odd going on there - Cockburn Sound fish deaths investigated)...

Socio/Eco comparing them is another story, the well to do of the State including the Premier (for now) vs similar to what we have in Mandrah.

Comparing to Sydney;
For Heritage Cott is Maroubra, just Sth of Bondi
For Rocko, Brighton Le Sands, part of Botany Bay, also has industrial Nth of it, also just Nth of Cronulla (Mandurah)

 

As @Jamie_ it's partly a cost thing but also because framed construction works better on such a small site. Each block is only 90sqm so only having 90mm walls means better use of the space. It's quicker to construct and on a small site easier to manage all the supplies etc.

On the RDE note, yes Vincent love dwellings that look like wedding cakes. Mine definitely is not a wedding cake shape but I'm hoping for deemed-to-comply as the second storey is still 1m setback from the setback 'line'. For now I just sit tight until my town planner assesses it.

 

Hopefully you can have your (wedding) cake and eat it too! Good luck @Westminster

 

Not sure where to post this:
Where can I learn about how to check if the numbers do stuck up?
Know that @Arron Sice did do a zoning course - will that cover this? (if so when is the next one)

 

Just a thought, my inlaws are downsizing and while they are very fit and active (they need somewhere to store bikes, kayaks and trailer) they are looking for a place without stairs because they want this to be the last move and they dont know how fit they will be in 20 years time.

 

A zoning course isn't going to help with your question. You've asked if the numbers stack up, this is irrelevant to a blocks zoning and is being implied that the cost of build + cost of land - holding/selling costs = a good enough profit margin to worthwhile.

Have you considered a buyers agency?

 

@ottg - the REIWA R Codes course helps people understand how the R Codes work and how they apply to different lots.

The course will help you understand the possibilities of what a lot can yield, which may or may not help with your search.

 

I think the course that @Aaron Sice runs will definitely help @ottg .

Aaron how often does the course run?

 

The problem is then I don't learn anything. However I got this from SS so a good starting point
How to value this property? - Somersoft Property Investment Forums

I also knock often on @Westminister's door but I need to do my own footwork first!

 

Hi Lyndon - Last one for the year was Nov 12.

There's a new one in Feb and Mar next year - Dept of Commerce dependent, of course.