WA PERTH ENTRY MARKET

The Beckenham train station upgrade was one of my first projects as an engineer. Seems to be a fair bit of rejuvenation going on there. Under $300k that close to the city for that much land, I really don't see how you can go wrong but I don't know a huge amount about the south.

I think there are also some good picks around Heathridge/Joondalup. I've seen a few development blocks going lately with 4.5%+ yields with on the existing house. Also for townhouses, there seem to be some bargains going around Highgate/Mount Lawley, down a good 20% from peak values. Just make sure they're differentiated from the mid-rise being built in the area.

 

that helps a lot! lots of useful info there, again, thanks a lot ross for your input

 

@Perthguy

awesome thanks for that, they are exactly what I'm looking for, but ill be holding onto them for as long as possible and growing the portfolio. just some instant equity so i can leverage and borrow against it as quick as possible really.

@JL1 awesome thanks mate, I'm far south (mandurah area) so i don't get to go that far north very often (joondalup and surrounds) though i am definitely open to any areas that would suit a reno and seem to have a bit of gentrification happening in the pipeline

 

If you are planning to long term hold then I personally I would steer clear of Maddington. Gosnells would be my lowest end. Thornlie next, Beckenham or Cloverdale/Belmont preferred.

 

okay note taken!

them 2 houses in cloverdale look really good, especially the deceased estate, could drive a low price on that.

 

You and every other bargain hunter...

Will be interesting to see what it goes for.

 

Dont be affraid to low ball, and i mean a good 10-20% below asking. You may get knocked back 20 times but it only takes one person to say yes and youve made a killer.

In a previous cycle my old man found a place "reduced to 680k", he offered 550. Agent declined, a week later he got a call saying "ok". Sold it at peak for $1.2m. 520k CG became 650k just like that.

 

wonder if anyone low ball 10-20% and got accepted in this cycle?... just thinking if this is situation arise, it's probably now or never?

 

Ok.

So I am looking at those properties in cloverdale.

Can you hear yourself over that airplane noise?

Ross

 

I have no idea re prices etc, perhaps pricey, just throwing it out there, but wouldn't along the new planned rail, Noranda area etc be worth considering?

 

How about High Wycombe and Forestfield? There is going to be a train station there a few years later and there are some blocks which are pretty huge, good for subdivision division.

 

I have properties in the area. Airplane noise is rarely noticeable. I also live in the area. Airplane noise is occasionally a problem when there is a strong easterly wind. The noise is noticeable for up to a minute at a time, a couple of times a week. I haven't spent a lot of time closer to the airport though.

 

Fair enough.

I have images of that property on "The Castle" with planes landing at the end of the runway.

I would need to walk around their to see what it was like.

 

yeah I have seen people saying be a bit cheeky and one will always end up coming back to you. Wow that is awesome about your old man... instant equity just like that!

@Ross Forrester
I was thinking the exact same thing with the noise, flight path is nearly directly over that area.

@WestOz
I was just thinking the same thing, though like I said previously my knowledge of the northern suburbs is minimal. Anyone in the area able to elaborate on noranda and surrounds?

@Xiao Hui
I've been looking around there, prices have already started to rise and the number of houses for sale seems to be dropping. Maybe missed the boat? Although I don't doubt if you looked around you'd find something decent.

 

+1 for Padbury at that price point. For a little more you can grab a development site with "retain and build" potential to renovate and sit on it for a while.

Check out the JHO (Joondalup Housing Opportunities) maps for areas that are or will be rezoned;
City of Joondalup > Develop > Building, Planning & Environmental Health > Planning > Local Housing Strategy > 10 Housing Areas

 

ah awesome! I've been wondering where i could find such info about suburbs, cheers colin

 

How about suburbs such as Coolbellup,success,piara waters,hammond park?

 

These are all approved but currently under review again.

 

Is that because of the nimbys in Duncraig? @Aaron Sice

 

What you guys think about Wattle Grove? Is the property price going to drop due to new flight path?