WA Post a Bargain - Perth 2020

Discussion in 'Property Analysis' started by Bprince, 2nd Jan, 2020.

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  1. Jimmy C

    Jimmy C Member

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    Yep that's how I interpret it - what I'll hopefully be looking for! Smart way to make money in a flat market.
    Out of curiosity what do you guys think the the subdivision and renovation cost?
     
  2. JohnPropChat

    JohnPropChat Well-Known Member

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    And a pilot license and a plastic bubble to roll in from your home to the runway to get an emply plane and fly it yourself ...

    Sydney is now the epicenter of infection spread in Australia. I am worried for friends and family over there.
     
  3. devo76

    devo76 Well-Known Member

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    Ha ha. Should clarify I'm in an industry were a free lift over by myself in the back is somewhat easy.
     
  4. JohnPropChat

    JohnPropChat Well-Known Member

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    Now you have me curious. Which industry?
     
  5. devo76

    devo76 Well-Known Member

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    Aircraft engineer
     
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  6. Damo93

    Damo93 Well-Known Member

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    Viewed a couple of units/apartments in South Perth this weekend. I liked this one the best:

    3W/9 Parker St, South Perth, WA 6151
    3W/9 Parker St, South Perth, WA 6151

    They’ve sold 2 or 3 bedders with/without views from low 400k to high 600k since 2014.
    Below being the best selling although renovated:

    6N/9 Parker Street, South Perth, WA 6151
    6N/9 Parker Street, South Perth, WA 6151

    Firstly, it is really unbelievable that prices have dropped so much or were so high in the first place.
    Secondly, amazing how few potential buyers there were compared to just a week ago. Some places I was the only one to view.
    Lastly, body Corp fees are high (although apparently they’re saving for good sized balconies) but city views in an apartment in South Perth for a negotiable high 3’s seems so cheap.
     
  7. Patrico1966

    Patrico1966 Well-Known Member

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    How old would the apartment block be then? Had a reno so must have a few years under its belt
     
  8. Damo93

    Damo93 Well-Known Member

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    REA said he had been selling them since the late 60’s when they were $18,000 each which was expensive back then. Heavily insulated as the walls are all concrete. No noise from above. The available apartment is unrenovated, no air con either and body corp is saving for balconies which by the sounds will be excellent but in the meantime high fees.
     
  9. Patrico1966

    Patrico1966 Well-Known Member

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    Great work...cheers
     
  10. spoon

    spoon Well-Known Member

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    The view is something to kill for.

    Looks like the N-apartments are facing north and Ws are facing west? Would be nice to have a north-facing one. Best ones would be 1-2 floors from the top floor. This way you get the insulation from the top-floor and the best view enjoyable. Good luck.

    Three years ago you can still get a block of land with an habitable house at about $700k, but looks like prices have increased from the trough in South Perth.

    A recent one sold: https://www.realestate.com.au/sold/property-house-wa-south+perth-131761066. But this one doesn't have it own land, I think.
     
  11. JohnPropChat

    JohnPropChat Well-Known Member

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    This is now under offer.

    It is on a busy road and east side of Albany Hwy but still a good entry into Vic Park. sub-300m2 land sells for anywhere from $350k to $400k+ so a 3x2 on top is not bad at all.
     
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  12. Damo93

    Damo93 Well-Known Member

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    The one i looked at is actually N, S and W facing even though it suggests W only. The Main bedroom, the bathroom and the lounge face North with the lounge having the best view in the house which is flagged for a future balcony. The rest of the views from windows elsewhere are S and W facing. The thing is, although the views aren't the best in the building, its negotiable at high 3's. Most others are anywhere from mid 4's+. If Body Corp fees were reasonable it would be under offer and I would sink 30k into opening the kitchen up, replacing the bathroom and just carpet and paint throughout to improve yield.

    That one on Labouchere Road came on the market much higher than it sold for from memory..im sure they were asking 850-900k?
     
  13. JohnPropChat

    JohnPropChat Well-Known Member

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    I remember $800k to $850k @spoon posted about it, which they were never going to get and lost all initial interest and people moved on.
     
  14. JohnPropChat

    JohnPropChat Well-Known Member

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  15. Perthguy

    Perthguy Well-Known Member

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  16. spoon

    spoon Well-Known Member

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    Thanks John. Your suggested wish list all got sold - that's proven you have a sharp eye for good picks :eek: I would love to buy this one but my land bank account is full (based on my affordability) while my money bank account is depleted (according to APRA anyway) :(

    Also I am evaluating my options to buy outside Australia. I think China has done a reasonable job to contain the virus and they might be the first one to emerge from the other end. Prime cities in China might be something to look at. Imagine they can kick start their economies by the end of this year while others are searching the bottom. Australia hasn't reach winter yet and if you believe what's the expert said, the worst of the Covid19 might not have arrived yet. :(
     
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  17. JohnPropChat

    JohnPropChat Well-Known Member

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    Indeed a bit pricey but there are talks about rezoning to R40 or higher in Vic Park. Most of the suburb is R30 which won't cut it for an absolute inner city burb so a nice little land bank for the long term.
     
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  18. JohnPropChat

    JohnPropChat Well-Known Member

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    Interesting strategy. How does one go about buying in China?
     
  19. spoon

    spoon Well-Known Member

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    Same as anywhere else. Except in the 4 most desirable cities, most people (including me) can only afford an apartment. Then you need to go to borrow from a bank, with collateral they recognise, ie., some sort of proof of income. They have apps and websites you can buy from, of course you can go through an agent.

    When all set up, then just to make sure the repayments are done on time.

    Of course the devils are in the details. :D
     
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  20. Abhi_Prop

    Abhi_Prop Member

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    Hi,

    came across this property - opposite future school, near train Station and freeway, 2016 built 2 storey for $560k. Seems decent for CG?
    131 Aviator Blvd, Clarkson, WA 6030