WA Perth 2022. Post a Bargain

Not sure what bargains will look like in Perth this year.

 

Going to tough….. market has moved so much, some more than others

Willagee a house sold first time over $1M

https://m.realestate.com.au/sold/property-house-wa-willagee-137246962


Sorry…..Back to topic

 

So Willagee is catching up with Mount Druitt price wise? Interesting times

 

Lol…. Too funny

 

https://www.realestate.com.au/property-house-wa-rockingham-137536802

Not super cheap but thoughts on this one?

 

No address, which worries me?
Defence home, dont go there just my opinion

Rockingham I would be targeting 650-700+ sqm land component

look at
Warnbro
Waikiki
Safety Bay
Cooloongup …. Entry level

Look at median prices they will vary

 

I started doing my numbers on my development for 3x2 villas $550,000
similar product just sold $640,000 each. There is little/no stock I expect they will hit high 600’s in late 2022???

Rents started at $450 pw now $550 pw and little stock

 

anyone have any opinions on Parmelia WA 6167. good by in price and reasonable returns on your money with low vacancy rates? im from Melbourne so don't know the area myself?

 

DHA normally pays a 10% lower than market rent to Landlord. It's attractive in a quiet market as owner are guaranteed with stable income. I probably won't consider this since the current market is pretty hot with high rental demand and low supply...Locking in a DHA contract gives you less flexibilities

 

This is unimaginable a few years ago.

 

I know, its insane

If you go to realestate.com there is no stock for sale, everything gone/under offer

 

.

43 Boyle Avenue? The street name is given. I just looked at Google maps

 

Nope. Search for Parmelia and surrounding suburbs on here.

 

Parmelia would be like the bad streets of Frankston before Frankston was ever cool. It's just a no from me.
Go a bit closer to the coast and up the budget and the tenant quality will be much better. In another post you mentioned you have $500k so you could get something wayyyy better in a huge variety of suburbs closer to Perth
Google streetview is your friend when trying to get a gut feel for an area

 

I don’t blame you for considering it. My first purchase in Perth was in Orelia. It was just. So. Cheap. And the government was redeveloping the hub, there was development happening.

I think it was two weeks after the opening of the new hub when I saw a local mum change her baby’s diaper on the cafe table (walking to the designated change room would have meant walking 15 metres & yes the cafe was busy) and the manager started keeping the condiments behind the bar to prevent them from being stolen, that I realised this suburb may not gentrify too quickly.

At least I had the good sense to sell (against the advice of a reputable BA) when things were good in 2015 and today the market is still 15% below what I sold for 7 years ago.

Don’t do it.

 

Ghetto

 

Yes….. Parmelia, Orelia, Medina is just a no go for me regardless how cheap. Never get tempted here

 

OK I will go there...last cycle someone picked up cheapies there for 65-80k....they peaked at 80k and he sold down when they peaked in early 200s. I think he bought 8. Not a bad play....not for me....

 

Sounds like Geraldton…. @Karina picked up 14 maybe in 2006 boom cycle for around $65,000 and I think then offloaded most around $160,000 each??

Lots of social issues, not for the faint hearted.

But if it works great of course, I just want a peaceful life