WA Perth market 2019

To help the visualise the discussion:

 

You're casting a very wide net there and catching a lot of blowies with a simple graphic like that. Understand it for visualisation purposes but everyone should realise that distance does not equal value for money.

 

I think my guide of where to buy would be more like a sideways rainbow with the beautiful Perth coastline included at each end. I’m seeing a lot of demo, Reno and new builds close to Carine High School. Properties have been selling fast in the area.

 

While #Perth10k is a good general guide to start with, it doesn't mean everything in there will make a great investment. Nollamara and Balga for example - stay out without a second thought.

Buying around the median price is another way to look at it. Perth's median is circa $450k. That is not that far from the $430k FHB limit to get full benefits. If buying a dev block, I make sure that my potential end products will still make sense for FHBs and OOs. Flipping dev blocks to another developer as a strategy doesn't always work.

I've made money from outer ring (> 20k) suburbs before but IMHO the time for loading up on those is not here just yet. In general there is so much value buying in #Perth10k that absolute bargains are getting harder to come by but do happen so keep an eye out.

 

15k is where the profit is.

 

What are the red spots indicating?

 

All the profitable deals I've sourced or been involved with over the last few years of downturn.

 

I see you played in Balga, what kind of product?

 

Any unprofitable ones?

 

Me too. I recently had my portfolio appraised by a local agent I know and trust. Every property is in positive territory, a few by not much. All bought in the last 10 years. For me, rents are up, all properties are positively geared and putting money in the bank. Negative sentiment and broad statements from other posters in this thread don't take that money out of the bank. Just sayin'

 

Multis. First expedition of using minor overlap to build townhouse product with plot ratio and get an extra unit.

Westminster (suburb not Myf) - I put two there just around the corner from each other.

City of Stirling tried to use SATs Ellis V City of Stirling against me each time. Just asked them to read par.42 & 43 again and come back to me with an approval.

 

Don't know! Some people you never hear from again.

Leederville to Mindarie, Freo to Gosnells - some DAs are drawn, approved, successfully financed and the client just turns into a ghost and the site is still vacant 5 years later.

 

No movement at all for our IP in Padbury ( Carine high school zone) but I see two blocks now subdivided, one home built on one nd two being built on the other, can't wait to see them finished! I know the owner is keeping one so interesting to see what the other is listed for.

 

Isnt this Duncraig HS zone?

 

Looks like you've worked on developments throughout much of the metro area. What would you say is your favourite/easiest local government to deal with?

 

Oh gosh, you're right! My abject apologies, I was confusing Carine and Duncraig zones, sorry! Although I do believe Duncraig is pretty well rated also.

 

Yes Duncraig not far behind Carine in ratings. Daniel Riccardo turned out alright!

 

So for the 3rd time my tenant in west Perth has renewed without an increase/decrease. I'm sure I could have increased the rent but I'll see how things go over the next 12 months.
I think it's best to wait for the market to tighten up substantially.

 

All good - have been looking in the area and trying to get our head atound the school zones

 

I honestly have a lot of trouble with how autocratic Stirling and Swan are, but in the same breath in Vincent everything is subjective.

I enjoy working with Joondalup, Wanneroo, Fremantle, Melville because they understand what "reasonable" means and I don't enjoy South Perth, Vincent, Rockingham because they will say one thing and you work to an outcome and then the complete opposite finds its way into a report for council briefing.