WA Perth - Dummies Guide

Thats why its weird to me. Weird doesn't mean bad, just odd and odd that it is the type of place it is when its got one of the worlds best metro beaches. It's definately done well (not entirely convinced rents are going to be as strong) but pretty confident this is the new price of houses. Do you think this will rollover into Kwinana based on the proximity?

2 years ago lower end of Rockingham and Kwinana seemed on par and now probably a 100k difference from the 200k price tag It was

Maybe granny flats will become more popular. Shame there aren't any specialised builders. Even before the construction boom cost of building small dwellings was too high (2.5k per m2 etc)

 

I think the desire for high yields is now driving values up in suburbs like Kwinana, Medina an Orelia. It did start in 2021

However, beach suburbs in Rockingham provide lifestyle. Its not only attracting investors, its FHB, retirees

There is also ability to add value ie renovate for those who have skills.

Cherry on the cake is the 700 sqm corner lot that eventually can be subdivided. Sit it out, rent for 5/6% yields and wait for build boom to slow down.

Or just buy and hold and watch market rise. Grow capital

 

Kwinana hasn't hit the same figures lower Rockingham have (Coolongup/eastern Waikiki) etc though some of them aren't even much further from the beach. Might be the next best place.

700m2 corner AND enough room to retain the dwelling would be sweet. Lot of decent housing stock that would be a shame to demolish but a granny flat/single bedroom dwelling might still fit well and get yields up

 

know someone here who scored a corner house, close proximity to beach, can retain home $345k, was not a local, just persistent

 

Have the subdivision rules changed in Rockingham? Thought you always required more than 700sqm?

 

The market is in this weird reshuffle now with such a low rental vacancy.

Craigie demanding higher rents than Duncraig My lower SES units have such stellar yields compared to the higher SES one. Capital growth also seems to be much higher as a % coming from a lower base.

 

Corner lots have had a min of 350 for a good couple of years now.

 

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Australia ranks the highest among more than 20 countries for meth use

No longer do you need to just buy/live in Methdurah or Methingham all of Perth is contributing

 

Your going to offend all the perth posters haha

Sad but true its socially more acceptable than capital cities on the east coast. Specially in a society where media says has higher wages

 

Nice to be famous for something...

But why Meth only? Not other drugs? Perth has been famous for high Meth use according to sewerage survey. Maybe they haven't tested for other drugs so time will tell... I am more worried about the behaviours of those after taking Meth than Meth itself.

 

I'm not sure what other drugs they test but some of the reasons are
- highly highly addictive. It's a slippery slope from recreational usage to full time usage
- FIFO/drug test special. If you know you're going to be tested then you stop using is 48hrs before your test and should be fine. So it can be the 'drug of choice' for FIFO. It's addictive properties do make this hard, they have to stay clean onsite and then just use it when off roster and stop again before testing. Keeping it to 'recreational levels' can be hard
- higher disposable incomes - if you don't like avocado on toast then go for meth
- it's quite a cheap drug

 

I have heard from someone who cleans Meth houses that Cocaine is the Fifo drug of choice as it leaves the system a lot quicker. Whether it’s true or not I have no idea. I have 7 tenants currently who get drug tested for work and have no issues so far.

 

I think foreigners (outside of WA) prefer cocaine including FIFO workers that have moved from east NZ etc. Couldn't imagine how pulling out a glass pipe in a Sydney nightclub bathroom would go.

I prefer cocaine as a drug of choice for others to have. Aus prices are extremely expensive so 9/10 you must be doing something else right to feed that habit. Even a life of petty crime (low level burgarly ) would struggle to feed that habit.

 

Until you try and sell and the buyers gets a methamphetamine screening test done by a lab, affects re-sell value

 

More like 7-8 years now. There were a number of years where the policy was not published, but we knew about it and we bought a lot of corner sites that agents did not know had subdivision potential. Some very happy clients!

 

Hahaha! Most positive meth scans are a scam. google it.

The great meth testing 'scam'

 

Interesting, I've had one done and tested by a big lab in perth which showed levels 4x higher than the Australian Government safe habitable limits? Can't argue with that

 

Hi everybody... Can anybody recommend a 'property investment-savvy' accountant based in Perth? I am looking for somebody who can add value and advise on tax implications, ownership structure set-up etc when purchasing / owning property...

 

Not saying there isnt anyone in Perth but I wouldnt limit my search?
ATO covers all of Australia and it might pay to use one interstate. Theres a few on here (dont think Perth)

 

Try Frank Redfox Carine