WA Post a Bargain - Perth

Discussion in 'Property Analysis' started by MTR, 17th Jan, 2017.

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  1. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Yep, 6 year old place we built with 31 course ceilings :)
     
  2. Luckycharm

    Luckycharm Well-Known Member

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    Thanks Colin...sounds like heaven to me and my tall family. I will keep an eye out...
     
  3. Aaron Sice

    Aaron Sice Well-Known Member

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    Close!

    2400 has always been the minimum ceiling height - which currently is 28 courses of bricks.

    The older homes had odd sized bricks though. If it was a returned services special or an AVJennings in could be anywhere from 26 to 29 courses because they often used a non-standard brick.

    Some of the older lime-silica bricks are 90mm high. Some are only 75mm. It was an attempt to 'modularise' and 'decimalise' the construction industry. But they're all back to 76mm now.

    My house here in Ocean Reef has 2.5m ceilings downstairs (currently 29 - 30c) but I count 27 bricks. Built by Belcrest Homes 1981.
     
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  4. LifesGood

    LifesGood Well-Known Member

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    26c high ceilings that's crazy! My ceilings are roughly 37c. One of the benefits of a 1940s home!
     
  5. Perthguy

    Perthguy Well-Known Member

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    They were cheaper to build. Still are really. I am building now and it was an upgrade to get higher ceilings. Upgrade = $$$.
     
  6. Perthguy

    Perthguy Well-Known Member

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    I am renovating a granny flat from the early 70's with 3m high ceilings. They are fun until you decide to tile to the ceiling in the new ensuite. :p
     
  7. Propin

    Propin Well-Known Member

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    Yes, land value. Newish homes (under 10yrs ) sell for around $800,000. So spoilt for take away shops, coffee, butchers, delicatessens around this area. Greenwood, Padbury, Kingsley, Woodvale have great places.
     
  8. MTR

    MTR Well-Known Member

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    I know the Perth market aint to great, but I had a re agent agent knock on my door today asking if we want to sell. That is weird

    Also, I see properties selling relatively quickly if priced correctly. I know a deve site had 4 cash offers on the table, sold for 850k though in 2014 would have sold for 1.1m

    My g/friend is developing duplex inner city luxury townhouses, she already has an offer. Seems this market is in demand
     
  9. Redwing

    Redwing Well-Known Member

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    Perth Market will soon (if not already) attract the contrarians
     
  10. MTR

    MTR Well-Known Member

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    Not yet get for me

    Are you buying
     
  11. Propin

    Propin Well-Known Member

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  12. JDP1

    JDP1 Well-Known Member

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  13. Blacky

    Blacky Well-Known Member

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    That's because it's top secret and everyone in Perth are idiots. Only the smartest people know about that gold boom.
     
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  14. LifesGood

    LifesGood Well-Known Member

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    Scarborough North is my pick
     
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  15. Perthguy

    Perthguy Well-Known Member

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    I know 3 families looking for a property in your area. Probably why an agent is knocking on your door. The demand is definitely there but only at lower prices. That's the problem. People in good areas don't want to sell up for low prices.
     
  16. Cruskits

    Cruskits Well-Known Member

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  17. Westminster

    Westminster Tigress at Tiger Developments Business Member

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  18. Aaron Sice

    Aaron Sice Well-Known Member

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  19. LifesGood

    LifesGood Well-Known Member

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  20. MTR

    MTR Well-Known Member

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    I think this strategy actually works in Perth's market today.

    G/friend purchased a development site/duplex in busy hub Mt Lawley, side Street near Beaufort, around $920K, she is currently building 2 very high specification homes, each on own title I believe. For this strategy to work you need to buy in vibrant location with high end values, that is the key. Wont work in Maylands for example end values not high enough?

    She starts building shortly, already sold one OTP.

    The buyer is a baby boomer who owns a period home in the area wanting to down size. Apparently been looking for 2 years. There is a huge demand for this product.

    Many of the upmarket properties on smaller blocks are too old, not attractive façade and not a good design. Don't have too much competition.

    The idea is get it right and there is money to be made.

    Downside - hard to source the land, scarce as hens teeth.
     
    Last edited by a moderator: 22nd May, 2017
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