WA Perth Market 2022

Discussion in 'Where to Buy' started by MTR, 1st Jan, 2022.

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  1. MTR

    MTR Well-Known Member

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    high 600s, maybe 700k for front villa in good location
     
  2. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    3-week min for finance and 3-week min for settlement can be done faster, wouldn't push your luck in this current environment though!
     
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  3. Propin

    Propin Well-Known Member

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    I settled in 3 weeks recently. Some agents wouldn’t believe me and wrote the standard as above. One agent did believe me, checked with my bank manager and it happened!
    Edit/ it was 3 months ago before the rises though!
     
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  4. Adrian8507

    Adrian8507 New Member

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    Can someone tell me what suburb in WA is good for positive or slightly negative geared investment property?
     
  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Be prepared to be flamed for such little information in a post asking such a general question. Yield isn't static across a whole suburb due to the diversity of housing stock, quality of each individual property etc etc

    If you want to throw some darts at a yield map then check out and then delve into some suburbs that is shows you that might meet your budget, risk profile and strategy. http://maps.reiwa.com.au/#/marketView?location=-31.95285360,115.85733890&zoom=11
     
  6. Shogun

    Shogun Well-Known Member

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    This Forum is unlike Facebook groups/pages. On many of those the advice is focus on cash flow and holding for ever. However at some point either major maintenance needs to be undertaken and you over capitalise or you can't sell the property (as bought) at a slight profit.

    Any property can be cash flow postive with a big enough deposit. Doesn't mean it's a good investment.

    The Forum has a useful Search function. Many threads contain ideas of good places to buy and what makes a good investment property.

    Many WA wheatbelt towns are highly cash flow postive however you have great difficulty selling in those town.
     
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  7. HBK

    HBK Well-Known Member

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    Hey guys still reading the thread im on page 16 currently
    For a range off 400-500k which areas would use recommended around the or closest to the cbd for cg and some cashflow too ?

    Thanks
     
  8. PerthEngineeringDraftyGuy

    PerthEngineeringDraftyGuy Well-Known Member

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    ridgwood
     
  9. Nando Lee

    Nando Lee Well-Known Member

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    Perth seems to be the best value in Australia. Maybe high interest proof investment as well. Sadly my home Melbourne is the 2nd overvalued city in Australia..
    Screenshot_20220629-193530_YouTube.jpg
     
    Last edited: 29th Jun, 2022
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  10. HBK

    HBK Well-Known Member

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    So you send in plumbing and gas inpectors ? Not only building and pest ?
    So is that around 1k to inspect the property?
     
  11. gach2

    gach2 Well-Known Member

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    Northam
    90 mins drive out of the Perth CBD (about the same as outskirts of Sydney during traffic)
    Still possible to buy under 100k or 150k for a better condition property

    250-300 rent

    Note: I havent purchased any in Northam or intend too (not fussed about CF+) but it matches the questions
     
  12. Whitecat

    Whitecat Well-Known Member

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    Tell me more...
    Also why sell if it's cashflow positive?
     
  13. Whitecat

    Whitecat Well-Known Member

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    Starting to see some data around in the last few weeks indicating Perth is dropping slightly.
    As is the rest of Australia
     
  14. RPL

    RPL New Member

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  15. Shogun

    Shogun Well-Known Member

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    Houses don't last for ever. At some point they need money spent on them and being a crap house in a crap location it adds no value. But yes that is the common theme/advice given. Buy and hold for ever.
    What happens if the area you have bought in stagnants and you identity an area prime for large capital growth? Anyway YMMV.

    Asking some random on a Facebook page is not research.

    If you spend time reading the Forum posts. Forum members own property in the USA the gross yearly rent collected is close to the original purchaser price. Plans to sell yet it's a really good cash cow.
    People with small cash cows in the swinging pig area will bail first sign property prices or rents are falling.

    By all means follow random advice on Facebook groups about buying and holding for ever in crap areas with good cash flow
     
    Last edited: 1st Jul, 2022
  16. gach2

    gach2 Well-Known Member

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    Looks like a duplex
    Not too sure how you could tear it down (unless your purchased the other side or had an agreement)

    Thats probably why it is land val or cheaper than land val
     
  17. RPL

    RPL New Member

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    Yes, makes sense.
     
  18. Squirrell

    Squirrell Well-Known Member

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    Last edited: 2nd Jul, 2022
  19. gach2

    gach2 Well-Known Member

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    I would also ask why its cashflow +

    1) area of high turnover of occupiers (eg surfers paradise etc) and no one buy for a short term period (minority of places)

    2) Area where occupiers cant afford to buy. Eg lower demographics

    Yes in recent times with record low rates and supply available there have been areas outside these that might have been cf+ but I wouldnt expected this to last

    Also a lot of properties are claimed at cf+ but aren't really. Expenses of owning is not Rent - interest
    Tax returns before depreciation will indicated cf.
    I would also amend interest expense to interest of market value not actual interest paid. Properties purchased 20 years ago or 50% deposit would easily be cf+

    Also to answer the q - ive sold genuinely cf+ property before. Was around (5k cf+) or 3k cf+ using the above method (interest rate on sale price). This was also using 4% rates v 2% rates we have had recently

    Reason - Was holding me back on purchases other properties with better cg/adding value potential.
     
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  20. Whitecat

    Whitecat Well-Known Member

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    So what are the crap areas with good cash flow in the potato belt or whatever was being referred to
     

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