WA Post a Bargain - Perth 2018

Thoughts on Dayton/Caversham type areas i know some new builds on smaller 4-500sqm blocks but some older places on 700sqm + some close to 800 for decent houses (3 or 4 bed 2 bath) built 1990-2000 for 450k ish

Youd expect with the Morley- Ellenbrook link that youd get a train station close by in that area aswell which could be very beneficial if on a large block nearby?

Thoughts with my logic

For FHOB, I understand 15-20k East of CBD.

 

You will be suprised, my friend lives in a house similar to this in east vic park, he did it up nicely for the landlord but landlord refused to drop the rent after 1 year lease is up, and my friend moved out ; new tenants moved in within 2 weeks. Puzzles me but I guess its what the market is willing to pay with the proximity to everything(shops, CBD etc)

 

Exceptions rather the rule in current market. A lot depends on the house, current rent etc.

 

Wander what the price will be on this one - 10 bishopsgate Street, Lathlain

Lathlain address available on request - House for Sale #128999470 - realestate.com.au

Great location! 2 min to train and 5 min to the heart of Vic Park....however in quite and lovely Lathlain. Can build one at the back pretty quickly.
No idea on current house conditions though.

My price estimate would be in the range of 800-900K

 

So much for address available on request. Looks like 10 Bishopgate St, Lathlain. An old rickety 2x1 with a "granny flat" at the back. Very close to the train station and associated noise. Unless it is being rezoned, $800k is over the top let alone $900k.

Why buy in Lathlain when the same money can get you stuff in Vic Park/Kensington?

 

Lathlain is much less noisy, crowded and busy compared to Vic park. In fact I rate it higher for families.
That location will get you both worlds - the amazing shopping and viberncy that Vic Parks offers with the quiteness and family living of lathlain.

 

I'm with you, I'd probably rather spend $900k somewhere else.

 

Quite parts of Vic Park, Kensington all heaps better choices than Lathlain.

 

One word: Eagles.

While of no interest to me, people are paying a premium to live near the training ground thing.

 

Already priced in.

 

If it's indeed in the 900k range imo it's a terrible buy from all angles.

As a development project it's sub par, as a block for someone to build either 1 large home for ppor or build 2 sell 1 live in 1, it's sub par, as an OO bought to live in as is or with minor improvements with a view to it growing greater in value than general marker, it's again sub par

Someone with that money to spend could get a solid, well maintained, fairly large 4x1.5 type family home in very liveable condition in suburbs like floreat, Wembley, Wembley downs, etc. For a crappy house on large block at that money you'd choose to buy a near river 900sqm plus east freo/attadalw type place, a suburb with significantly higher property values, resident incomes, local schools etc, borders the Swan river instead of the railway line and local derros etc etc

Don't get me wrong, I'm actually quite bullish on the vic park surrounds in particular an area like this in between both vic park and belmont which are both seeing great improvement but it's like seeing someone flog a holden commodore for the price of a Audi a6. No matter how much the commodore might have improved, they should not cost the same and in the future trying to get others to also believe that it's as valuable when you're trying to cash out will be a hard task

There are still lots of good deals out there atm for someone with 900k odd to spend on a PPORa lot less than 6 months ago and def less than a year ago but this isn't one imo

 

Anyone familiar with this pocket wouldn't really recommend million dollar plus family living within 100 metres of the train station, car park and train line,literally 4 doors down and across the 2 lane suburban road. this area is improving of course but there's still concentrated transient troublemakers that will be right where this block is, definitely not a case of the quiteness and family living appropriateness here imo

 

You learn something every day. I stand corrected!

 

Happy to help!

 

That was my point. You asked why people want to live there and that is your answer.

 

I was specifically comparing Lathlain to VicPark at that price point though.

 

I think not bad if you don’t go to close to powerlines. There was a building boom around year 2000 and some dodgy bricklaying so I’d use a reputable building inspector.

 

Also see if the inspector has maybe a magic wand to help overcome the fact that you'd be buying a cheaply built generic home on a smallish block in an inconvenient area with terrible public transport links that manages to combine the downside of edge of metro travel distances with the tiny blocks of closer to the city block size

Makes even less sense if it's for a fhob and not a family with a few kids etc because a 3 bedroom house on 350-500sqm can be purchased In far superior locations with much better local amenity, shorter travel distances, better CG prospects etc for that 450-500k budget

 

I agree there is better value in Vic Park. Why are people paying so much to live in Lathlain then?

 

They aren't, there is no one in lathlain paying 900k for a block to build on to live in. No one
Now someone might overpay and buy it for 800k or so with the intention of developing it but that's again not someone paying that much to live in lathlain

There are decently priced homes in the suburb though as there are some nice pockets to go with the excellent location and close but not too close to Vic park factor too. Again though this house isn't that nice pocket and isn't the sort of highish priced owner occupied property I'm referring to