WA Perth - southern suburbs for IP

I'm looking for an IP in Perth, to meet the following criteria:

- 800m2+ block
- 3+ bedrooms
- Cashflow neutral (or positive) assuming a deposit of 20%
- Walking distance to shops
- Ideally less than 25 minutes to either CBD or the beach

Can spend up to $750k on the perfect place, but most cash-flow neutral properties will likely be sub-$500k.

I've focused my search in the following suburbs, mainly because they seem to offer the sweet-spot of affordability + cashflow + distance to the city. I'm not a local, although I have spent some time working in Perth (planning for Metronet...)

What are these suburbs like to live? Any dodgy/really nice areas in particular? Future growth prospects? Keen to get a range of opinions

Langford
Thornlie
Lynwood
Beckenham
Gosnells
Maddington

Cheers,
AJ

 

I would suggest Harrisdale especially Harrisdale school catchment.

 

Cheer Vic - Harrisdale is a little further out than I was hoping for, and it looks like a very new suburb with lots of land still for development? Stock on offer is mostly new houses on small lots.

 

Out of that original list I would probably go Thornlie, Langford, Lynwood in that order.

But honestly it probably helps to refine your strategy a bit more. Is it just buy and hold for growth? What is the point of the cashflow criteria?

 

Fair enough... strategy is simply buy-and-hold for growth in a 5-10 year window. At that time, either sell as is, or (potentially) develop/subdivide and sell.

The cashflow criteria is to keep my partner happy. (yes, I know it's not necessarily the most effective wealth-generation strategy, but it's a real consideration!)

Thanks for the thoughts on Thornlie, Langford and Lynwood. Any areas you particularly like?

Cheers

 

There are some good train connections happening in Thornlie. Langford and Lynwood are cheap, older suburbs that are currently a bit nasty but located relatively close to the city and very close to Cannington which is a bit of a hub for train/retail/employment.

Gosnells and Maddington are ages away from everything. Plus bogan central.

 

I would have thought with that budget you could get a better grade suburb like Willetton, Leeming, Bullcreek. It might be a 700+ block but I would have thought better quality. Any reason for the 800sqm size criteria?

Some random picks - just ones that are for sale that meet the budget - no idea of yield etc there are others
https://www.realestate.com.au/property-house-wa-leeming-135020342
https://www.realestate.com.au/property-house-wa-bull+creek-136049678

 

If you were willing to consider North then I'd suggest looking at Embleton, Noranda, Morley

 

Thanks - exactly the kind of insight I'm looking for.

Yeah, I'm aware of the Thornlie-Cockburn link and Thornlie Station redevelopment - a long way behind schedule, but will get built eventually.

 

Thanks Westminster - the 800m2 filter is a bit arbitrary, although obviously land will hold it's value more than a depreciating house. I'd certainly prefer a bigger block.

I'll take a look at those north side suburbs too. I've been focused on the south as that's the only area I'm familiar with.

 

My 2 minutes searching. Joondalup has everything you need

5 Melo Court, Heathridge, WA 6027 https://www.realestate.com.au/property-house-wa-heathridge-136092134

 

Yeah thanks Shogun - I found that place too.

 

Willagee… corker of an area, just goes from strength to strength. Maybe I am biased, but the numbers don’t lie

Morley but …….caveat ….south side of Morley Drive, location critical for end values when/if developing

Hamilton Hill

Hilton

Spearwood

 

Yeah, wow... Willagee/Hamilton/Hilton/Spearwood... some nice properties in the $600-700k range.

Looks like a solid middle-class area? Nothing fancy, but good access to shops/schools and the beach?

 

It's interesting that's your view because it wasn't that many years ago when these areas were considered "bad" ones - and you could get full subdivisible blocks with decent (admittedly old) houses on them for under $500k.

But I tend to agree their reputation and potential value in these areas are good.

 

Maybe your biased...lol...!!!! why would you think that...

 

Hi @MTR out of curiosity why only the South side of Morley drive?

 

You get further from Morley shops, Bayswater "village" and are closer to the Kiara (not too bad) and halfway to Lockridge (rather crap). There's a noticeable but intangible drop in "feel' north of Morley drive imo and especially north plus eastward

 

Thanks @sanj