WA Post a Bargain - Perth 2018

You could have just searched “Perth-greater region”

 

City of Canning has it too. It is a special scheme area. I think it was Town Planning Scheme No. 21 but I would have to check.

 

Yes, it was City of Canning - Town Planning Scheme No. 21 and it is a Guided Development Scheme, not a special scheme area. I think the relevant clauses are:

C17 –Public Open Space Contribution by Owners of Land within the Scheme Area
C21 –Payment of Scheme Costs

and possibly

C10 – Obligations under the Scheme for Landowners to Contribute Towards the Construction Costs of New Roads

although I am not sure about that last one

https://www.canning.wa.gov.au/-/med...ng/Planning/TownPlanningSchemeNo21TextPDF.pdf

 

Wow that's intense.

Pick another LGA then. There is no justification for that level of double dipping.

 

anyone have any views of redcliffe within proposed DA6 area near airport?

 

Does anyone know if every lot in city of canning is affected by this public open space clause and if there is a minimum number of lots needed to trigger the contribution? From a quick read it seems like if the lot is within the scheme map then a simple 2 lot subdivision triggers a 5÷ contribution

 

I was looking in that area 2-3 years ago. My main issues were:
1. Noise - you can feel it almost all the time
2. Vibrations - you can feel these sometimes when a wide body jet takes off.
3. Jet Fuel - you can feel it and smell it...

For me, these were a huge turn off. I would never consider buying there.

 

I don't think it is all lots, just Town Planning Scheme No. 21 lots. Although they may have other guided development schemes. TPS 21 is the only one I know about because I was looking to buy in that area and found the contributions made the feaso not work.

 

Hi all

I am new here and was just reading through the comments. Quite a bit I don't understand due to my inexperience. But it seems a bargain is something over 500k lol.
I was wondering if starting out smaller would be an option? How about a 200k one bedroom apartment like this one
21/650 Stirling Highway Mosman Park WA 6012 - Apartment for Sale #128101498 - realestate.com.au

I had also spoken to someone from Wealthbuilt Australia who suggested a turnkey property and rent out. However thats at least 150k more.

I have been looking at a lot of apartments and I can see the growth is obviously smaller and now the depreciation of the market also dropped prices a lot. But I was thinking if I buy now when the property market is at low, and wait a few years while paying off more in the mortgage + renter, will that be a viable strategy?

Thank you in advance.

 

56 Margaret Street Ashfield WA 6054 - House for Sale #128209706 - realestate.com.au

This was a bargain for the 1-2 days it was on the market!
If is was in Perth, I would have probably put an offer...
Similar properties go for 450K+ in that area.

Congrats to the buyer!

 

Weird that it's R20 when it is such a short stroll to the train station. These types of places around Bassendean that occasionally show up with 800sqm land and a house in a position to easily add another make my mouth water, but on the other hand you can't actually develop on there until they rezone it, which could be years or decades away. Still mouth watering though... even if you can't develop yet, the huge amount of land that close to the CBD still has a lot of scarcity and value.

 

I can't see a price anymore - what was it listed at?

 

Hi @Derek288 welcome!
The main stumbling block on small units (under 50sqm) can be lending. Most banks consider them high risk and will want a lower LVR so it can actually end up needing as much deposit as something twice the price.
In terms of location it's got a lot of things going for it for people that like the beach but it's not in a super trendy location with nightlife/shops/hipsters
Careful consideration would need to be taken into how well the building has been maintained and how much strata, body corp and sinking funds have been managed. Buildings of that age are at high risk of concrete cancer which is very expensive to fix and it will have some coastal/salt water issues from 50+ years of salt water winds.
For some people the cash flow of a small apartment is the answer and it will suit your strategy especially as a first buy if that's all you can service. The downside is there is unlikely to be much growth and there is at least 30 other properties in the complex which are exactly the same when it comes to competition for renting out and selling. If you need it to grow to get equity out for another purchase then it might be better to wait until you can buy something a little more expensive that you can value add to manufacture equity
If I was to look at all of Perth and look at the $200-250k range and without doing ANY homework I would look into something like this 40c Dryden Street Yokine WA 6060 - Villa for Sale #127723082 - realestate.com.au
Note I have done NO investigation - just seeing what up to $50k more could get for you

 

400 to 420.

 

It needs a cosmetic reno but looks like a bargain to me.

 

@Swoosh30 didn't quite get what you meant by "it it was in Perth"?

 

If I was in Perth

 

@Westminster How much do you think this property worth please? It's within the T.O.D. 400m - 800m area but zoning may be far away...

 

@Swoosh30 Trying to learn from you guys, do you think 400 is a bargain or 420? Many thanks.

 

In my view, it is a good deal across this entire range....
However many people do not like ashfield...