WA Post a Bargain - Perth

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

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  1. Spiderman

    Spiderman Well-Known Member

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    Near a major employment area. 5-10 min drive if working in Osborne Pk/Balcatta?
     
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  2. Propin

    Propin Well-Known Member

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    Yeah, true. It reminds me of Fortitude Valley 25 years ago. Could have some good potential.
     
  3. Thiaga

    Thiaga Member

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    What you guys think about east cannington ?
     
  4. Thiaga

    Thiaga Member

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    Sorry , I should be clear. I 'm thinking for an investment.
     
  5. Perthguy

    Perthguy Well-Known Member

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    Depends. Apartment, unit, villa, townhouse, house, development, house & land? What are you considering?
     
  6. JL1

    JL1 Well-Known Member

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    You'd be better off with this, reiwa.com - 24 Main Street, Osborne Park . Full disclosure I know the seller, but with its zoning you could fit up to 10 units and as its near Glendalough station, you get special exemptions on parking requirements.

    EDIT: just saw the edward street property has existing approval for 8x2 bedders. CoS stopped multi-resi approvals on R40 so having this secured makes it actually something special. Problem might be if the approval lapses, you wont secure it again so you'd need to build soon.

    I used to live there and for the money it was fantastic - best thing was all round access to other places. half way between the city and scarborough, freeway and train access, and a nice walk to Mt Hawthorn highstreets and short drive to north perth, leederville, and Mt lawley. 6km from the CBD which made a short cycle to work. The thing that hurts it is City of Stirling's backwards view on Main Street. At one point they were looking to develop much like Oxford Street with multi-res and single lane traffic, but there was too much community backlash and now it looks like apart from the bit at the scarborough beach road end which still has some high zoning, the rest is just going to be grouped dwellings.

    Saying that, there is somewhat of a super-site that just hit the market next to Glendalough station. Hopefully this goes to the right developer and gives some new life to the area, so the south end of main street can develop into something.

    279 - 285 Scarborough Beach Road, Osborne Park, WA 6017 - Land/Development for Sale #502408858 - realcommercial.com.au
     
    Last edited: 21st Aug, 2017
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  7. Xiao Hui

    Xiao Hui Well-Known Member

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    I think East Cannington and Beckenham are cheap to buy now. They are not far from the city and have good amenities around. Issue is they are still seem as "rough" by locals.. This "roughness" might depress the value of the houses which means they might not likely appreciate in value soon, even if the inner city properties looks like rising in prices now.

    Just like Frankston of Melbourne when I bought 4 years ago, so many people questioned why I do that as it was deemed "rough". Well, I reasoned that it was one of the cheapest suburb then that I can afford to buy. (You could easily buy a 600sqm block with a reasonable 3 bedroom house for $300,000). Plus, it has good facilities and transport to the CBD. So the worst thing to happen is that prices would stall but it will be hard to drop. So with Melbourne increasing in value after that, Frankston boomed soon after and it's still happening now despite the inner city houses starting to plateau in prices..

    It would say East Cannington could be like Frankston in this respect?

    So if you don't want to come up with huge amount of money to buy a house in Perth and don't mind a longer time to see any rise in value, East cannington could be good. Being just 15km from city, it cannot remain "cheap" forever.
     
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  8. Thiaga

    Thiaga Member

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    Hi, I'm considering a house.
     
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  9. Thiaga

    Thiaga Member

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    That's exactly my thought. Will share few listings which I'm thinking to buy right now.
     
  10. stockt12

    stockt12 Member

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    There aren't many places that are worse / more under duress in terms of mortgage stress than that area (Cannington east cann canningvale)
    As they rates climb you will get even better deals down the line .
     
  11. Perthguy

    Perthguy Well-Known Member

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    New house on a small block, new house on a big block or old house on a big block? Retain and build and demo and develop?

    The reason I ask is that some might stack up and some might not.

    My opinion: East Cannington has potential. It's relatively low priced for it's proximity to the CBD and also there is the big Carosel redevelopment. However, there are some things to watch out for:
    - aircraft noise (check the ANEF contours)
    - clay soils (if you are building)
    - local government contributions (if you are developing)
     
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  12. Scaphella

    Scaphella Well-Known Member

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  13. Perthguy

    Perthguy Well-Known Member

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  14. JohnPropChat

    JohnPropChat Well-Known Member

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    East Cannington is not Frankston. Armadale is. Has lot of stigma but that is changing slowly. Can find dev stock for less than $300k in that market.
     
  15. Username86

    Username86 Well-Known Member

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  16. Scaphella

    Scaphella Well-Known Member

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    And this is why I like posting on this specific thread, get to learn a heap.
     
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  17. rogerG

    rogerG Well-Known Member

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  18. Username86

    Username86 Well-Known Member

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  19. ellejay

    ellejay Well-Known Member

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    It's not cheap. I bought something similar in South Lake but much nicer house at the bottom end of the price range for this one. Got to be very careful what you buy will attract a tenant at the moment, unless you're going to live in it yourself.
     
    Last edited: 23rd Aug, 2017
  20. Scaphella

    Scaphella Well-Known Member

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