WA Perth market 2019

@property world
Welcome to using Grouped Dwelling rules for things that look like battle axe subdivisions.
True battle axe subdivisions are actually quite rare and involve the whole access leg belonging to the rear block and a much larger size block.
You can also use the grouped dwelling provisions to create the same look and if you imagine a triplex it is one rear access leg with more than one property off it. This can be done for just 2 dwellings as well.
You can see in this project that the front houses's garage is off the driveway which automatically makes this a common property driveway and a grouped dwelling. The rear block only needs to be 180sqm and average between the 2 needs to be 220sqm.
In some councils this is pretty much the only option when they put a restriction on their split codes only allowing one crossover. That forces the front house to have the same crossover as the rear and it becomes a grouped dwelling.
Using grouped dwelling rules it is easier, generally, to make the block sizes work for a retain a build behind/next to.

 

Thank you so much

 

Perth market review from CBRE

 

Me and the partner kind of like a place.

However its just that the next door neighbours have some serious extensive cctv and big cameras at the front of the property. They also have heightened fences for the front fences with dog warning signs everywhere at the front.

3 places of about 15 are for sale in the street

These cameras according to google maps mustve gone up fairly recently.

How do you do more due diligence on this. If it looks, smells... then is it?

The one positive i see with these cameras is they would be worth shitloads and id say could be pulled down as 3 main cams in front yard... yet no ones done that just yet

 

Community facebook pages are normally pretty good, a few of my friends are members of their local area facebook page where everyone shares recent burglaries and such.

Also take a look at the local police station twitter where they normally keep everyone updated on local crimes in the area.

Warwick Police (@WarwickPol) | Twitter

 

Nice I’ve just transferred one of my properties in Perth to these guys today!

 

Perth's rental market is quietly surging, fuelling talk of a wider housing recovery

Not holding my breath, but interesting reading none the less.

 

I'm struggling to sell my properties so I have decided to pull then and rent some out and the demand is quite crazy. I believe this still does not mean there is a recovery on the way

1) Credit availablity is tight and people who want to buy can't get loans so they rent instead
2) Buyers believe the market is heading down for the next year or so , so they sell up now and secure their profit and then rent until the market bottoms out then re purchase.

I doubt we will see any price rises in Perth this year except for good houses on decent land in the inner city and coastal areas

 

thanks for the update @Big Daddy. care to define "crazy"
bidding wars?
multiple applicants for each property?

 

According to the number of properties available to rent they have remained at the same levels since late September, and even went up slightly, with a dip in the last couple of weeks that went back to late September numbers.
The big falls were in the Jan -Sept, with numbers going sideways since.
According to the weekly section from Reiwa in Saturdays West.

 

That's good news for me. I should have a property on the market for rent this month. I am hoping for a good response.

 

"Perth's rental market is off to a flying start for 2019, with the vacancy rate at the lowest level it's been since 2013 according to industry body the Real Estate Institute of Western Australia (REIWA)."

Perth's rental market continues to recover, as vacancy rate drops to lowest level in five years

Of course any response to a property on the market for rent will depend on the three important factors: presentation, price, location. Metro stats include Baldivis and Mt Lawley. In reality these suburbs are not comparable.

 

Properties were sitting on the market for months with no bites. First rental home open we have multiple applicants for full asking rent. PM still sorting references so fingers crossed.

 

Good selling agent? Unless there is great value things aren't moving very fast.

 

Let’s hope REIWA have for their sums right this time as opposed to the ridiculous stuff up mentioned earlier in this thread in regards to property listings last year.

 

I wouldn't worry to much about reiwa stats. Whenever I decide to buy a house, I go look at houses. I never look at statistics

 

I rented my place within 5 days late last year. The rental market has definitely changed.

 

Yes. First time in the last few years, our tenants are happy to extend their contracts for at the same rent.
PM also said that things are improving a lot in the rental market. Hopefully, Perth is turning around..

 

Yes good selling agent.

Similar development next door (joint venture) done on the cheap which has been on the market for a while so they are having a fire sale to move stuff. People want to pay the same price even though we spent atleast 20÷ more. I believe they are owner builder and from feedback the floor plans suck, elevation is terrible and fittings and fixtures are all cheap ( eg Chinese cabinetry)

 

Not trying to be a smart arse, but one of my investment properties rented within 4 days last year (this was in contrast to 2016 when it was vacant for 3 months.).

The rent remained the same as before. At the time I was thinking this might have been down to luck than a change in market conditions.