WA Post a Bargain - Perth 2018

Discussion in 'Property Analysis' started by Spiderman, 2nd Jan, 2018.

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  1. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I probably should have invested in Melbourne 4yrs ago when I was looking but hindsight is always amazingly clear. Perth is my knowledge base and I can manage risk easier here than in another state.
    I hold most of my stock so I'm encouraged by the signs that Perth will be picking up and then I might sell of a couple of IPs which are getting a bit older and in so-so demographic area.
     
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  2. Perthguy

    Perthguy Well-Known Member

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    I have not owned in Perth for 10 years. I owned a regional and in Melbourne until relatively recently. I only really got into Perth after the market collapsed.

    I like to buy when everyone is selling and sell when everyone is buying. I always buy with the intention of holding long term but then never do.
     
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  3. Swoosh30

    Swoosh30 Well-Known Member

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    17B Hawker Avenue, Warwick

    Is that a mistake? Mid 400k for 900sqm... Or am I missing something?
     
  4. theperthurbanist

    theperthurbanist Well-Known Member

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    Possibly, but it is easy to say 'I should have' in hindsight! That doesn't mean investing in Sydney/Melbourne was the obvious and guaranteed capital growth play three years ago it has turned out to be.
     
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  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Well it's certainly an odd way to market a duplex. The B of 17B is the first clue and then the weird wording "The home shares a whopping 939sqm block"

    Why put that it "shares" 939sqm - just say how big it's actual block is - presumably about half that? I wonder if it's some old kind of community title as it doesn't show up as a normal strata block on Intramaps

    I've roughly measured out 17B to be 480sqm ish

    upload_2018-4-8_8-51-24.png
     
  6. Zeehan

    Zeehan Well-Known Member

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    I love reading your posts. You are very generous in the way you share information. My husband and I were walking past your Wright St development yesterday, again commenting on what a great job you did, and wondering what you have on the go now.
     
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  7. Oshawott

    Oshawott Well-Known Member

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    Yeah westminster is really generous with information. She is really a godsend.
     
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  8. icic

    icic Well-Known Member

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    btw guys, where are the best places to buy an acreage with the best potential for green field residential development?
     
  9. Big Daddy

    Big Daddy Well-Known Member

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    Bullsbrook?
     
  10. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    How deep are your pockets?
    As @bigdaddy says Bullsbrook way. There is also large lots in Southern River, Harrisdale, Baldivis, Wellard.
     
  11. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Thanks! The other Highgate project around the corner is hoping to kick off again shortly.
    Then 5 apartments on Charles St, North Perth and 4 grouped dwellings in Warwick.
    I'm in the middle of building a duplex in Manning at the moment.

    aka sticking my nose into your projects and offering strong opinions :p
     
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  12. Zeehan

    Zeehan Well-Known Member

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    I’m exhausted just reading this!
     
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  13. Username86

    Username86 Well-Known Member

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    I'm currently living in Manning and seeing lots of development, I'm not a developer but I tried some quick numbers on a demo/split near me and I couldn't see much profit based on the asking price. Is it a case of the sellers asking way too much?
     
  14. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Not necessarily. Market value is dictated by a number of factors and just because it doesn't stack up for development doesn't mean it's over priced. It might me still good value as PPOR stock if it can be a PPOR type area.
    If it's been on the market for awhile then it may well be over priced. We bought our block on the Salter Point side and it was an ex Homeswest block and paid $945 psqm . That price per square meter worked for our feasibility.
     
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  15. Scaphella

    Scaphella Well-Known Member

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    You could potentially pick this 850m2 r20/r60 property up for $400k & rent $400pw+. Sadly it went for $542k in June 2015 but this is the Post a bargain thread... and I still think this area is a good opportunity to develop when things pick up. (Says I with an IP here)

    reiwa.com - 12 Dartford Crescent, Marangaroo
     
  16. Joseph33

    Joseph33 Well-Known Member

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    Hey guys, I'm fairly new to the Perth market and looking for someone to point me in the right direction so I can start doing some research.

    Looking at buying a investment property with a budget of 350-390k with potential future development (such as a duplex) and capital gain.

    I'm a builder from Sydney but am a little confused with the zonings there. Generally speaking what zoning would you need to build a duplex on 600m2? R30?

    Would love to get some of your ideas on areas to start researching.

    Thanks in advance.
     
  17. Swoosh30

    Swoosh30 Well-Known Member

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    Hello Joseph,
    Welcome!
    Google is your friend. You'll need to do your own research to get the right result.
    Residential design codes
    The table on page 59 of the first document.....
    in theory 600SQM on R30 should enable to build a duplex however there are other rules and considerations such as battleaxe etc.
     
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  18. Joseph33

    Joseph33 Well-Known Member

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    Thanks mate. Yes I definitely agree about doing my own research. Just getting some starting points :) Thanks for the advice.
     
  19. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Yup page 59 is my most referenced page. The rest of the document is great but starting out understanding how page 59 works is very important.
    There is also a tandem explanatory guide which goes into even more information for the sections.

    Watch out for ads which talk about split coding, eg R20/40. The site will be R20 by rights and R40 if you meet various Council policies. These policies vary from Council to Council so you will need to look at the Town Planning Scheme for that council to find out what it is.

    If the zoning isn't listed in the advert (and never trust them anyway!) then most of our Councils use Intramaps for their GIS mapping which will show a lot of useful information. There is a list on the RHS of this site which shows which ones do. Digital Mapping Solutions (DMS) | IntraMaps | Web Based GIS Solutions Others will use other GIS or just some downloadable maps
     
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  20. hematite

    hematite Well-Known Member

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    Dual zoning can be a pain with some councils and their TPS. DYOR always!