WA Post a Bargain - Perth 2020

Inner ring is doing well so if you can find something in East Vic Park then go for it but do your own research ofcourse.

 

Ha ha Domain is doing its job for transparency. When the current owner advertised for sale they put similar article back in 2015, it wasn’t sold.

Again in 2020. Anyway the agent need to disclose to potential buyer.

 

I know it’s Gosnells but a 5x2 is not bad for that price
50 Verna Street, Gosnells WA 6110

 

That part of Gosnells is "interesting" but nonetheless not a bad price.

 

Sold for $375k 11 years ago

 

pondering the damage to the psyche of a generation of home owners/investors burnt by property in Perth and the long term implications of that (if any).

 

And the children of those parents/home owners/investors.

 

All I know is that when the good times roll in people forget the bad times and vice versa i.e. they think good times will last and likewise bad times will last.

 

My parents went down this path. 3 properties over the last 10 years starting just before peak of boom (lots of propety seminars around perth at this time). Planning for retirement, doing their best. 2 ok properties and one sub-par one. They are currently stuck in the equal to slightly negative equity category as they are all IO and they were hoping for CG's. Coming to crunch time now that they are a few years away from retirement. Had some good tax breaks along the way but after all this time its probably not going to be worth it for them. Shame. They will be fine though

 

sorry to hear of this. I guess the upside is that it got rid of the spruikers in WA (for the time being). They will be back during the next boom though.

 

Perhaps in Perth there is now a generation hitting the home-buying age who've grown up observing that you often loose money on property, and there is no urgency to buy a house, even if you can afford it.

 

I was interested at the property so I had a look, and the house looks pretty run down. Some roof and structural repair is needed as well as cosmetic. They did a pretty bad job of subdividing it. It's in a nice & quiet location even though you have the train across the street. The seller told me that next door owner might be interested to sell if you are after the full block

 

i do feel for them

many who purchased in Mandurah will be feeling great pain, have no idea if or when this market will recover

 

i was buying and selling during the boom and held onto some stock but the only way I survived was diversifying. I started buying in 2007/8 in Melbourne and Syd it saved my bacon, otherwise I would have been royally screwed

I am a huge fan of buying in strong markets and diversifying.

When you consider since 2013 Australia has seen at least 4 booming property markets, imagine if you rode a couple what gains could be achieved.

maybe the moral of the story is not to put all your eggs in one basket??

In saying this I see Perth now as presenting some good opportunities

 

If they can hold another 3-4 yrs they should do ok.

 

Bang on. For us buying it was wanting to have a place that was our own rather than getting on the ladder. Mind you our choice was a combination of both. That being said with current yields for passive property investing it often makes more sense to park your money in shares than to build a property portfolio. That isnt to say one is better than the other, down to personal circumstances, choice, risk appetite and all that jazz. YMMV.

 

This should help the prices in Armadale

https://www.facebook.com/video.php?v=112477800194729

 

Belmont has better parts and rougher parts. It can be ok depending on the property and particular location

 

Surprised that this hasn't sold already. It'll sell quickly.

7/151 Normanby Road, Inglewood, WA 6052

 

I imagine the architectural style (if you could call it style) has been rather off putting.