WA Post a Bargain - Perth 2019

Owners supposedly live up north and are motivated to get this property off their hands. I went and had a look at this one a few weeks ago. Great size block right next to a little park, but you will have to enjoy having one main living area essentially completely open plan with some small bedrooms off a hallway.

 

Any thoughts on this? Was sold recently, now up for sale again.

6-8 Scaddan Street, Bassendean, WA 6054

Would potentially be R80 in the future when the rezoning goes through, and approx 100m to the train station with ROW access.

 

I like the size of the land but R80 developments are not for the faint hearted. If the idea to is to flip to a developer, I would look in Bayswater near Meltham station and the brand spanking new Bayswater station.

 

Just an update on this, I have one back to them for another report and its 10% off for returning customers. So $450 which seems to be in line with competitors for a really good report. @JohnPropChat

 

What do you think about this one for a rental? 5km from city but bordering green st. A little bit of love and a lick of paint inside.
1 French St Joondanna WA 6060 1 French St, Joondanna, WA 6060

 

It's been lingering for quite a long time but has some charm. Presumably it's to do with bordering Green St (quite busy/noisy) and being a half block and price. The only moveable thing about those 3 characteristics is price so the market kind of has spoken that it listed too high or there is something more affecting the price/value

It's listing history is 128 days on market. It started at "Expressions of Interest" which is not well liked for 6 weeks, then $525k for 4 weeks, then $520k for 4 weeks and now been at "from $499k" for around 3 weeks. It looks to me like the owners are pretty set on their price desires which might not tally with the actual market value

 

BEST BUY FAR!

Thoughts on this Manning property as a FHB? Bit small but very liveable with minimal work. It's on a strata title thought, but according to the landlord, it's been 'subdivided' and has it's own land entitlement - can anyone clarify? Thinking of living in it to get FHB then rent it out to young professional family aiming $300/week?

 

It's okay I guess.

I look for potential value adds but it's Manning so will appeal to Canning College students and renters in general.

 

Surely you won't get much FHB stamp duty rebate as it's quite a bit over the $430k limit.
Strata titling is a type of subdivision so yes it probably has it's own land. Ask for a copy of the subdivision plan to see if there any common property or anything weird going on.

 

My bargain of the week:

8 Victoria Way, Osborne Park, WA 6017

Your own DD will have to apply since I've done none apart from scoping the online listing.

I think some of my earlier predictions panned out - pair of listings sold within a week, possibly for more than asking.

 

It looks like it could be one of the old school strata titles where the edge of the building is the strata lot. I bought into one of those while the owners were having it converted to survey strata.

There is a possibility the Manning property could be converted to survey strata through a Landgate process. I don't know anything about the process or what properties qualify.

 

@Westminster @Perthguy
It is small but the FHB stamp duty discount does help. The strata plans are here. My interpretation is that the 413m2 is exclusive use of PT1, but still requires permission to do any changes from the PT2. Probably be looking to buy and convert to survey strata, which should hopefully be straightforward given the clear allocations and lack of common walls. What would be the best way to go about this? I was suggested by a surveyor that they prepare everything and get the PT2 owner to sign, then make the offer. If accepted then I sign and execute?

My gut feeling is that with survey strata the property is reasonable value with instant income stream - dont know if thats on the mark or not

 

Yeh for 490k its roughly a 6k savings in Stamp duty comparing FHB to not being one

 

Ops - dead link. Strata Plans here

 

What do you guys think of this one? Been on the market since last November. Bedford is an interesting little suburb.

 

Well I can tell you that after 267 days on market the price has hardly moved. It started "offers in the $600s" to "offers from $599k" (really no different) to "$588 to $638" (again no different) to $588k to "$550-600k". All the prices are mere variations on a theme. I'd say the sellers are trying hard to get something very close to $600k

The house was also for sale for 293 days Oct 16 to Aug 17. That listing price point was mid to high 600s

So what do I think? The market has spoken it's too expensive and the owners want too much

 

I have no idea about the process to convert a strata to a Survey Strata. Your starting point is Landgate.

 

Guys please shed some light on Perth hills and bargains there . I have seen some properties around million mark and some are in 500s. Makes me more confuse . Kindly post some bargains

 

The Perth Hills is a big area, are you looking at specific areas and are you looking for acreage or suburbia?

 

A common trend at the moment. People selling dont understand how much the market has fallen, then when they realise after trying to sell they decide it isnt worth it right now and a drop in listings is the result.