WA Perth Region Time to Buy ?

Thoughts about Perth property market ? Good time to buy ? Outer suburbs like Darling Downs, Armadale, Seville Grove, Forrestdale, Champion Lakes or surrounds ? Thank you.

 

What’s your strategy and time frame? IP or PPOR?

It’s a good time to upgrade a PPOR and also a decent time for anyone wth a long time horizon - as long as rental demand is okay.

 

Hi Jess, I am looking for an investment property with good cashflow. Dual Occ or Duplexes. Unsure if the rental market can be dependable due to falling prices.

 

You would need to do some serious due diligence on some (actually all) of those suburbs.

Depending on your strategy you need to choose carefully to maximise your chances of capital growth, good tenant areas, zoning and

To be honest those areas are likely to be the last areas to get good/any growth unless it's a massive long term play for growth and I would choose something closer. Some of those suburbs are really far away from a Perth perspective.

 

But I do think it's good buying in Perth - just not those areas unless you have a specific budget, high risk tolerance and long term goals.

 

Aren’t most of the suburbs considered ‘western suburbs’ of Sydney?

Not a good time to buy in Sydney in my opinion.

Blacky

 

I did have to check Darling Downs just then as I thought someone had snuck a new suburb into Perth - turns out its in Queensland.

 

There is a Darling Downs out near Byford. Been a suburb for about 20 years.

 

I stand corrected - I've lived here for over 40yrs and I still don't know all the suburbs.

 

Why would you buy in suburbs where they can keep on releasing land? Try and get in closer to the city with limited land supply.

They are nice spots. But not yet sure about investment potential.

 

What sort of yield are you aiming for in those locations?

 

There it is (21)

 

Oh geez that's way out my comfort zone. Lots of horsey properties out there which are pretty $$

 

Personally I'd steer clear of it, mainly on account of Byford and Harrisdale area new land releases. Unless you think population growth will go crazy again, there won't be enough demand for that area to out-strip the potential supply.

To me, the current opportunities in Perth are all central. the price difference between inner and outer is just too close. Sure, once the inner prices have boomed the outer will have their run. This is exactly what melbourne is seeing - boom ramped up in the inner areas before filtering to our where it really went crazy last year. But if you buy central first, just use your new equity to buy outer later and get the best of both worlds

 

Darling Downs is semi-rural. Not even landbanking there would be a good idea, borders Hilbert which will see out the next 25 years.

Have you been reading Perth&[email protected]? Looking South East? Piara Waters would be a better bet.

 

What do you think about Thornlie for a gross in the next cycle? It seems to have large blocks, close to a train station and just ~14 km from CBD. Although, most of the block in R17.5, not good for development?
I am thinking to invest up to 400,000 in Perth. Would like buy and hold through the next cycle. Any suggestions?

 

Im about to release 7 x NRAS approved 4 bedders in Gosnells. Brand new. Just completed @ 4 weeks ago. Have picked up used NRAS incentives with expiry dates between 2024 and 2026 and just got them approved for substitution...

 

Try Ashfield. Probably similar socio economic demographic yet closer to the airport/city/new tonkin industrial park/ etc. But, you might need closer to 500k.

 

Ashfield is an interesting one. Looks amazing on paper (especially if any sort of intensification around the station gets put into planning), yet a lot of people avoid the area due to its reputation. There is a lot of social housing in the area so just watch where you buy. It would be interesting to know if Dept Communities is looking to sell out of the area Luke they have in similar areas. Not sure how one finds this out (though I have a friend at DoC who I’ll ask).

If you come across the Ashfield Precinct Plan don’t assume this is what is actually planned for the area. It is a plan developed in part by the State Gov and not what the Local Gov actually has planned (which is still being determined). Still interesting in terms of grasping the potential of the area.

 

Totally aligned with this. Might be a 10+ year investment horizon.