WA Post a Bargain - Perth

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

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  1. sash

    sash Well-Known Member

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    Lets wait and see.....Trump has a lot of protectionist policies......what Trump does not see is he has done USA business a favor to automate everything and reduce labor.

    This is already happening as a major disrupter......if this continues.....labor will reduce further

    US shares are going up...but the living standards of people keep going down...that will have an impact. Europe and even Australia think there needs to be a balance...watch this space. Lower standard of living cannot keep supporting house prices.
     
  2. MTR

    MTR Well-Known Member

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    Lets see what happens in Oz markets over the next 6 months?

    I have been taking advantage of US property markets since 2011 and if it aint broken why fix it. Call me crazy but loving what we can achieve in this market, 50 States and you have volume

    Karina been doing the same and she cant secure enough stock today to meet client demand. Her clients in the main are not australians

    I have posted some links on housing crises in US and why there is little stock and the demand in USA. All equates to ongoing growth/boom

    Anyway back to topic......Perth

    Mtr:)
     
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  3. AP121

    AP121 Well-Known Member

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  4. JL1

    JL1 Well-Known Member

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    market rent seems to be around 420-470 for a similar property, giving 4.7-5% gross yield. Pretty good, but i do wonder about CG potential. For a family who is renting in the area and no real plans to move on, a buy like this is a great opportunity to cut living costs and get in while the market is low. Especially if they can get it further down on that asking price
     
  5. Burnhi

    Burnhi Member

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  6. Burnhi

    Burnhi Member

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    I should stick up for Pinjarra a little bit here, considering I live there. It is a great lifestyle for the family. - I work in the city, so 50 min trip on the train. Would I invest there, probably not. Although the duplex house that was posted earlier, did seem low cost base enough to warrant a bargain mention. FWIW In terms of investment, I would be buying western suburbs on the train line.
     
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  7. Pentanol

    Pentanol Well-Known Member

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  8. JL1

    JL1 Well-Known Member

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  9. Skuttles

    Skuttles Well-Known Member

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  10. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    It's the ickier part of the suburb. But overall for distance to city the area has to improve .

    41 Pakenham Street Mount Lawley WA 6050 - Residential Land for Sale #201779386 - realestate.com.au

    Down the street was on the market for quite awhile (216 days) and they had it on market for $695-795. Eventually moved down to 'from $675k' and under offer now. Probably sold at definite land value as the house was well past prime. However at $1200/sqm it's pretty good value in my opinion even for non prime Mt Lawley
     
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  11. chesterfield

    chesterfield Well-Known Member

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    Also it is kind of boxed in between major roads, i.e. guildford road, east parade and graham farmer freeway. However it seems great value, as the new perth stadium and east perth train station upgrade will improve foot traffic though this area... and if they eventually activate the east perth power station with an art gallery or fringe festival (pipe dream) or something to connect with the river then at $1200/m2 it will be one of the best medium term investment in perth.

    Not much below $2000/m2 in east perth, highgate or mt lawley so well priced, especially considering the house is decent.
     
  12. Ross Forrester

    Ross Forrester Well-Known Member

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    Packenham street and Guthrie street have a storm water drain that runs down the middle - that is why you see all those trees going in a straight line down to the river.

    Your backyard has a direct line of site into your neighbour due to the slope of the block.

    I used to live in that area. That bit did not appeal.
     
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  13. Big Daddy

    Big Daddy Well-Known Member

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    Thanks Ross

     
  14. JL1

    JL1 Well-Known Member

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    I find it amazing that a few hundred metres can make such a huge impact on price. If i was dropping 750k on a PPOR i would be straight in there. Long term with the east perth powerstation redevelopment, stadium, a good park, access to mount lawley, the city, and that much land..

    I would assume the schools around there are decent enough? That's probably my biggest downfall in picking an investment, I just can't relate to what an established family would want.

    My perceptions have been too skewed living in melb. its a given for me that neighbours will be able to see into my outdoor area, and the whole city is a bit of a storm water drain given the rain. I just cant get over how cheap land is near the CBD in Perth, I have to pinch myself to remember its a different market. I think of that pocket as similar to West Melbourne. You'd be looking at ~$5,000/sqm on land value around there, even without development potential.
     
  15. PerthPadawan

    PerthPadawan Well-Known Member

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    161 Curtin Avenue Cottesloe WA 6011 - House for Sale #125439966 - realestate.com.au

    It sold for 1.445m today. Well attended auction. 4 bidders going for it, at least one overseas investor.

    Perthites - Is that a good price for this area/market/house (4/2 +granny flat+pool), or under/over valued?
     
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  16. Perthguy

    Perthguy Well-Known Member

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    Thanks for the update. It went for a bit higher than I guessed but probably around market value for this stage in the cycle.
     
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  17. Blacky

    Blacky Well-Known Member

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    More than what I thought it would too. I had it pegged at $1.3max.

    However someone could see the opportunity once the blind decorator was fired. My eyes were bleeding too much.

    Good price. But not unfair in the current market.

    Blacky
     
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  18. LifesGood

    LifesGood Well-Known Member

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    That Cottesloe property is rather horrendous, but great potential. Wonder if the new owner is also a flower lover?
     
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  19. Perthguy

    Perthguy Well-Known Member

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    Maybe the new owner has taste and will fix that train wreck! ;)
     
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  20. MTR

    MTR Well-Known Member

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    Massive difference in location to the other side of Mt Lawley, prices in this precinct have always sold for much lower price regardless of boom/bust cycles. Its just not as desirable to the locals.

    Guildford Road is a nightmare and you must get onto this road to go anywhere. Also many buy in Mt Lawley because they want to be close to private school - Perth College, which is on the other side, negotiating traffic in the morning and afternoon will be a big put off.

    East Perth power station, this is one mess. Pretty sure it got renovated by Government some years ago only to be left vacant, wasteful. If this area got revitalised could be a different story. There is also a wonderful bike path here.

    There has been talk about revitalising this precinct for at least 20 years now, and there is so much potential.

    At one stage I heard they were looking at an art gallery, but the years go on and nothing happens. It a shame.

    I hope the above explains why there is a price discrepancy
     
    Last edited: 18th Jun, 2017
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