WA Perth Development Sites

Bayswater has good community feel to it. Parts of Bayswater (East of Tonkin Highway) is largely commercial with a few houses thrown in. It might as well be Ashfield as in only pay Ashfield prices even if it has Bayswater postcode.

South of Guildford Road (towards the river) are still in good demand.
800meters around the train station are great value if you get in before the town structure plan kicks in. The town center is finally getting the much needed upgrades and fixing the eyesore that is the train station.

https://www.watoday.com.au/national...torious-bayswater-bridge-20181201-p50jmw.html

 

I’ve been reading up on updates in past couple of days too. My prediction is Pearson St, Ashfield and south being more in demand. Baywater/Bassendean border - not much change-slowly, slowly. Nothing to drive change.

 

What's special about Pearson St? Half of it is industrial and rest is OKish.

Wouldn't even go that far. East of Tonin Highway is not that great to being with anyway. Price it accordingly.

 

Easy access to Bayswater redevopment

 

Any specific town planning scheme?

 

The Bayswater town structure plan is much further away from there. Maybe you are referring to the Ashfield scheme but I thought it was dead in the water for a long time?

 

I think the redeployment of Bayswater May increase Ashfield prices eventually. It’s a 5 min drive to train station from Pearson Street. You are close to the boat ramp and kayak ramp if that’s your thing. It would probably be easier to travel there to cafes than Bassendean

 

A potential winner, don't think it'll last long - https://www.realestate.com.au/property/127-hordern-st-victoria-park-wa-6100

 

Depends on if it's green title or survey/built strata.

 

Hi everyone,

First time poster but have been following the forum for awhile.

What do you think about this property from a hybrid strategy? To use as a PPOR spending 200-300k on renovations, and possibly subdividing for retain and build in the future or selling for capital growth (much further down the track)?

https://www.realestate.com.au/property/42-fourth-ave-mount-lawley-wa-6050

 

It's under offer but the strategy is quite sound as long as you keep the PPOR beer goggles at bay and still buy something that is financially sound. Even though you might not want to subdivide now there is no point buying something with subdivision potential unless it's value adds to the site. No point chopping off a rear block if it makes the front overcapitalised. You need to be able to recoup the costs of the renovation and have the front house go up in value.

Would I spend $1.2m on that precise house? probably not. I feel that I could buy a something a bit prettier with less money required to be spent on it to make it PPOR grade but PPOR grade is personal and renovations are a black hole of money

 

Thank you for the advice. Yes I do agree with all your points. I have done a retain and build development in Bentley, and unfortunately I over-capitalized on the back property that was built. I have probably just broken even, not including the holding cost of the property. I have kept both as the yield is not too bad, and it is a bit saddening to sell atm. I also find once you have finished the subdivision you really capitilize on the capital growth, so moving forward each individual properties do not grow as much; what do you think?

My situation now, is where I want to buy a PPOR, with a budget of up to 1.6mill, and I am wondering whether I should buy a place in the low millions with less land and a decent/nice house; leaving my self the ability to borrow in the near future for an IP. Or spend more and buy a decent to nice house on a big plot of land, as land is what appreciates, and the higher the purchase price the greater the value for money/less competition. Or buy a crappy house on big land and renovate it (but I have 0 experience with rennovations, not handy at all and time poor). I don't really care where I live or what type of house it is, I care more about capital appreciation. But the missus wants to live only in South Perth, Mount Lawley, Subiaco, Floreat, Wembley etc. (central blue chip suburbs), and she also likes nicer houses.

Not sure which suburbs are best, what the best value is, and what would give you the greatest chance of potential growth moving forward?

 

Subiaco character home (with laneway) for long term BnH strategy. Will be the Perths newest "Rossmoyne catchment". When it gets rezoned in 10 years you have a sitter.

Look for sneaky subdivision lots in Cott / North Or East Freo/ Mosman Pk etc.

 

2 Bosworth Place, Leeming, WA 6149

Thoughts?

 

Crappy part of Leeming. Pretty sure its vastly overpriced. Pass.

 

Which school's catchment?

 

The new secondary school the State Govt are putting in.

A first look inside Perth's new state-of-the-art high school at Subiaco Oval

Catchment area likely to look like this.

https://www.northperthprimary.edu.au/wp-content/uploads/2017/06/4213_intake_map01.pdf

 

Thanks for that Aaron. Yes I had the same thoughts. Are there plans to change to zoning in Subiaco? If so which areas? I thought it would be hard to find sub-divisible land in Subiaco as the land size is usually quite small. What size block would you need?

 

No plans to change zoning but it will come like everything else in Perth. No area is sacred from rezoning, even PepGr under pressure. Best to get dual access (laneway, corner etc).

 

Why are corners so blocks considered so more valuable i keep getting asked by the novice GF?

Im a bit of a novice myself but..

- Can apply and get 5% less block size for subdivision.
- face 2 roads which can help with access i to subdivision

Am i on the right path there?

On a separate note. How long does it take each property to get rezoning in Perth Metro. Ie 15 years generally or every 25 years?

If we are buying and holding as PPOR for 20-30 years and have land does it matter as eventually the property is likely to be rezoned