WA Perth Market 2022

They will regret this

I would not sell in this suburb. Buy hold rent and refinance, access equity….. this suburb will continue to fly

 

Long timer lurker - I've used this thread for advice and tips and appreciated it, so just want to say thanks. Not an investor, we just bought our PPOR ( upsized family home) which we plan to live in for a long time.

Been to many (many) home opens ( NOR) over the last year or so. From what I've seen in the suburbs we have been watching, even recently, stock is still really low and houses are still getting snapped up very quickly. One of the busiest home opens I have been to was only 3 weeks ago. There seems to be the odd 1-2 house which needs a little more work/rennos that is a little quieter but otherwise still hot as far as I can tell.

 

Another interesting data
More and more Sydney and Melbourne investors are interested in Perth.

 

Or is the Reno going to look drab soon and even more so after renting,?

 

the idea is to make money on growth. Short sighted to sell when market is rising and huge demand in this suburb

 

Possibly rinse and repeat
Cant feed the family of waiting for growth

Not bad pick

Has the area really boomed in 3 months or will play a partial cause of such a gain if results are acheived

 

Whose waiting for a boom, already started in 2021

Even suburbs considered lower demographics are moving.

Clearly some are doing better than others

Its dependent on strategy, property, cycle etc
Some you keep some you sell. I would consider this a keeper for now, just my thoughts

I also understand its tough to refinance in current environment.

 

If the property sold for high 8s would you think the gain was solely from the boom or the reno itself added quiet a bit of gain (ugly ducking disguised a prince etc)

If only WA followed NSW and moved to a land tax system, would make flipping more attractive

 

Both

Reno maybe $60k ??? Stamp duty
I expect buyer doing lots of work. Many who flip do the grunt work. Otherwise maybe $85k?


Good size block

Mullaloo median $855k
Growth stats
https://www.realestate.com.au/wa/mullaloo-6027/

 

Yeah, I agree. Maybe I do things the wrong way around but I would rent it out, wait for growth, reno, then sell.

Generally think reno, rent, sell makes pennies on rent and loses dollars on the sale

 

This Mullaloo renovation would be their business rather then investors. Move onto the next one to keep wages/income going. I can’t get carpenters out until August. They must have a good system to sell so quick.

 

Probably a carpenter

 

Maybe a team of trades and selling the property themselves ? Just guessing - but very fast turnaround

 

How much would this renovation have cost?

First sold in May 2021 for $1.33m. It was then listed in March post renovation for $2.48m and recently went under offer.

34 Edgewater Road, Salter Point WA 6152

https://m.realestate.com.au/property-house-wa-salter+point-138972743

 

Though you lose out on any depreciation benefits and increase in rent could be significant. I rather rent it out for few years maybe 5 year max to good tenants who will look after property well so you get all tax benefits and extra cashflow while I use equity for other things. Also my renos are very cost effective sub 50k.

 

or you just buy a property in the right area for a good price and sell it 2 years later for a $450,000 profit
https://www.realestate.com.au/sold/property-house-wa-fremantle-138032406
Bought Nov 19 for 875K sold Jan 22 for 1.325m

 

Yeah, if you can tell the future

 

This is in a great location. Should go for high 700s

https://www.realestate.com.au/property/44-wheyland-st-willagee-wa-6156


This would be a landbank, no money in developing at $850,000 for build of 3 villas.
However, end values going up….. but you could be waiting 2 years on the build completion time frame

 

This looks like an unique property in Bayswater. Thoughts on what it could go for?

Agent seems to think mid 1 mil. Although next door 1290m2 with larger house sold for 1.4m at the end of 2020...

https://m.realestate.com.au/property-house-wa-bayswater-139691271

 

Whats end values at the moment?