WA Perth market 2020

What are peoples thoughts on Dianella? really cheap only 20 minutes from CBD. Are there any issues in this suburb?

 

Lots of Perth is cheap. The southern half is the better half but I believe all is acceptable. The Northern edge starts to border lesser type suburbs

 

Look in the dianella golden triangle.

 

Where is this?

 

94 Collier Road, Embleton WA 6062 | Domain

Not sure what to expect on rent for this or the value at 440+

 

You can't go wrong due to proximity to Perth CBD, however, try your level best to secure something close to yokine border.

 

Better still look at Yokine

There are also some unique older duplexes on huge blocks, in older pocket of Dianella, around Light Street

Both areas represent good value as there is an oversupply. Key is buying the right product where u can add value

 

I know this may be somewhat of an open ended question but what people's view on an old school apartment/flat in Perth at the moment to use as a bit of a cash cow?

I am currently playing around with some numbers to see if it is a) feasible and b) worth it to look at purchasing something with positive cash flow in my partner's name before having kids that could give us a bit of extra cash during her mat leave as well as possibly getting a bit of CG in the future.

I have not done a lot of research on actual properties yet but from what I have read Perth seems to give some of the best yield out of the capitals.

 

Perth market snapshot for the week ending 28 June 2020
NEW
29 June 2020
Perth Market Snapshot For The Week Ending 28 June 2020

Sales activity decreased two per cent in Perth this week, with REIWA members reporting 989 transactions.

This increase can be attributed to a nine per cent rise in house sales, a 17 per cent fall in unit sales and a 12 per cent fall in vacant land sales over the week.

Properties for sale
There were 11,004 properties for sale in Perth at the end of this week, which is a one per cent increase from last week.

A closer look at listing stock levels shows house listings remained stable, listings for units decreased by one per cent and listings for vacant land increased by five per cent.

This week's total figure is three per cent lower than levels seen four weeks ago, and are 26 per cent lower than levels seen a year ago.

Perth rental market
REIWA members reported there were 4,008 properties for rent in Perth at the end of this week, which is four per cent less than last week.

This week's rental listings figure is 14 per cent lower than levels seen four weeks ago, and are 46 per cent lower than levels seen a year ago.

View our Perth Market Snapshot graph for a detailed breakdown of the past week

 

That's what we bought and in hindsight I should have put it in her name as she also has had a kid recently. Good for cashflow and low maintenance.

 

If you don't me asking, what price range were you looking at?

 

crazy. I wonder where the ongoing demand is coming from.

 

300k

 

I'd like to but price/rent is a factor. Most of the big development opportunities won't allow me to borrow enough from the bank due to lower rent.

@500 rent /week I'm maybe buying for $570K mid next year
710K if I move out for 6 months with family and move back in to my house after buying.

 

This is it *blue and red" But i would only buy in the red area

 

Keeping a close eye on developments in my area.
Seems to be no shortage of work for trades/builders/developers.
Buyers are snapping up well priced old houses on large blocks just as quickly as new dwellings on smaller blocks.
No clear indication of price increases however.

This one in particular I am interested in as it is identical to my yet-to-be rezoned block
190 Riseley St, Booragoon WA 6154

https://www.realestate.com.au/property-house-wa-booragoon-133884894

Anything new and/or interesting you are noticing in other parts of Perth?

 

There is a clear indication of price decreases though if CoreLogic figures are to be believed.

I am sceptical of the demand that will be brought forward by the various developer welfare funds launched by Government.

Will be interesting to see how many suckers will sign up for negative equity land 50 ks from Perth.

 

property sales +74% compared to same time last year (+68% compared to four weeks ago)
for sale listings -25% compared to same time last year
rental listings -46% compared to same time last year (-14% less than last week)

#bullish

 

Sales are soaring because of govt grants and too many first home buyers trying to benefit from the construction grants etc. Listings for house sales and rentals are low as compared to last year because of covid uncertainty. I think property prices will be lower or stable once grants are finished by end of the year. With too many first home buyers rental demand will go low aswell. Let's hope for the best but things will be unclear until Q1 next year.
Cheers!!

 

I'm also very cautious about what will happen in 3 months when the government funds run dry. Victoria is showing how rapidly the virus can spike which won't add to optimism. If the funds do run dry, the downturn could last for some time.

In my research of WA properties, the one thing I am noticing is that development properties are being snapped up real fast.

I can't remember where, but there is an ugly looking townhouse, either North Fremantle, or Nedlands and priced ok, but not selling.

When I talked about buying the biggest property available closest to the CBD, what if my intention is to ignore future development and settle for a townhouse say in Subiaco, or Leederville that I can move into in 5 years time. Currently I'm interstate. When I looked at house vs unit prices in each state, they all showed similar trends in growth. Even if houses fair slightly better, wouldn't the lower maintenance, and higher rental yields make it a more attractive proposition particularly given I am buying it for myself at some stage.