WA Post a Bargain - Perth 2019

Bad. I left outer SE Melbourne a year ago. Lived 500m from new plaza and train station.
In VIC I lived among very different kind of people compare with your information.

Probably I should look close to beach, looks like beaches are "cleaner".

Please, can you tell what is source of your pictures?


I am going to live in the house. So I care about safety and security, capital grow not much importance.

Capital grow will "affect" whole Perth anyway, I do not think there will be much difference in prices between Rockinham and Mandurah after mining boom will come back.

 

What do you mean by “cleaner”.

I haven’t looked at those specific streets/houses.

But personally I would prefer that area ‘generally’ than rockingham/mandurah.

But of coarse there are good pockets and bad pockets in almost every suburb.
I was merely pointing out that there are plenty of houses on full size blocks availabile within your price range.

Don’t underestimate how close these places are to multiple beaches.

Blacky

 

These images are from each City's "Intramaps" online mapping system. I drew the red shapes myself on top.
IntraMaps
Online Mapping - City of Mandurah

This should be your go-to location for property info. Most metro LGAs have the system. It provides info on zoning, lots sizes, structure plans, development controls, etc etc. They also have layers that show you where council services such as libraries, parks, bus shelters, etc are located.

 

Emphasis on mixed bag suburbs. One street can be scary and a few streets away can be million dollar houses.

There WILL be difference in growth rate between Mandurah and Rockingham. Mandurah is not Perth, it is Peel. Not saying that Rockingham is a good bet either. Then of course there are nothern suburbs that are also close to beach with different growth drivers. Craigie for example is an average suburb with an average price but is close(ish) to the Beach and Whitford shopping mall.

Buying into a suburb without fully understanding it can be costly. Please consider renting first. With the current rental market, many landlords are willing to consider 6 month leases. Sometimes even less.

 

This article doesn't really make much sense to me

Established Property Purchases Increase 20% In WA First Home Buyer Market

Initially theyre saying so many FHBs are purchasing established properties which is a good thing in my eyes.

Then theyre saying they need to be offered a grant when buying established not just for when buying new.

For me the article clearly states so many are already incentivised by purchasing established already.... why the need to further incentivise that?

The amount you void in stamp duty usually out weighs the 10k grant

 

I am in support of bringing back the FHB grant for existing homes as well. Why punish FHBs that don't want the hassle of a new build? What about buying something less than 5-10 years old? What about wanting a bigger backyard in a better suburb though the house may be older? What about not wanting to move to suicide estates like Byford and Ellen Brook?

There are many good reasons why FHBs don't want new builds but the grant is penalizing them. One of my tenants - single parent, steady job but never could save enough. She can finally afford a "used" home that meets all her criteria but she is at a disadvantage to someone else that is building new and has access to much higher grant.

Bottom line: $10k is a lot of money for low-middle income FHBs.

 

REIWA just asking for freebies.


As you probably know, up until a few years ago there was a grant for people buying established.


State Government scrapped that to funnel demand toward new supply.


Doubt they will change course on that seeing as its basically being used a stimulus payment for the construction industry.

 

Property Report for 313 Wentworth Parade, Success WA 6164

My brother offered $600k a few years ago when it was listed and they didn't take it. The property sold in 2018 for $550k which is less than the $570k the owners paid for it in 2008.

 

Nice house but not great value for $570k. Success and Aubin Grove are new estate bubbles. In a world of their own without much to show for.

I would buy in South lake for a lot less money and better prospects.

PS: They did your brother a favor by not accepting it. Not a great investment.

 

Not much SUCCESS in that transaction.

 

Gee they mustve really overpaid in 2008?

Prices have generally across the board gained slightly from 2008 to 2018 or at worst held.

 

People were bonkers buying in Aubin Grove, Success and Wellard back then. When FHBs pay $200k+ for a small block of land in Byford, it gives these mildly-less-outer-suburbs the license to charge $350k+ for land alone. Poor buggers.

 

You have a choice at the moment between established and new build and need to weigh up the pros and cons. I feel we're in a good position where the incentive to buy Established outweighs that of New build. The article suggest that.

Do we need to make it even more advantageous to the established buyers market. This can have a negative impact... new builds id suggest are down. We dont want that to drop completely out of the image as thats when several jobs are stalled

 

You have to remember that the grant isn’t to help FHB per-se.
It is to increasing housing starts and support builders.
New home construction Provides one of the highest cash flow Downs. So supporting new build starts help support a lot of people/business.

They limit it to FHB, to gain political points, help people be mortgage slaves, and assist those most in need.

Blacky

 

But maybe I’m just being overly cynical?

As a side note, I’m in favor of leavibg it for only FHB for new builds.
Opening it for existing property does very little for the overall economy, and thus, helps very few people, at a very high cost.

Blacky

 

With unemployment at 6.8%, the last thing the state needs is the resi construction industry to completely die, which is what would happen if the FHB grants didn't incentivise new builds. As @Blacky says, the grant's primary purpose is now to keep the construction industry alive.

From a housing affordability perspective, there really is no requirement for any FHB grant whatsoever, either on new or established property. Entry level houses are $50K - $100K cheaper than they were 5 years ago, and rents are 20% lower, so saving a deposit and servicing a loan is easier than it's been for a long time.

 

Very aware of this, just for a change I looked at this from FHB (the consumer) point of view.

There may even be a FHB grant boost coming once Labor is in power and the union buddies want him to support construction industries.

 

If I put my FHB hat on (I used it a long time ago) then yes it should be supported for existing dwellings for all the reasons I mentioned.

If I put my Investor hat on (most days) then also yes because most of my stock is existing housing

If I put my developer hat on (rarely) then limiting it to new builds makes it attractive for me to offload my products

As for construction jobs, it's market dependent. Things have slowed down significantly compared to the boom. I still see people signing up in suicide estates during supposed "fire sales with $10k discount or free overseas travel"

People that want new builds will go for new builds and the grant is their to support them but for those that want to buy "used" for very many reasons are at a disadvantage.

 

I don't know, I think you're putting too much of a "Homo Economicus" hat on your average FHB. Most (and I'm in the age group to know many of them) see the $10K free money + shiny new everything and go straight down the house & land package path without any serious consideration of how overall cost, value for money and capital gain potential stacks up against an established property. Without the $10K grant I think they'd give it some serious consideration.

 

Agreed. My point was for FHB to be extended to existing dwellings as well not remove from new builds.