WA Post a Bargain - Perth

26 Richardson Way Bulgarra WA 6714 - House for Sale #126726450 - realestate.com.au


Ouch - what would this have been worth five years ago?

 

6 Symmons Street Bunbury WA 6230 - House for Sale #126406422 - realestate.com.au

I'm not a Perth expert but I thought I'd get some opinions

 

This surprised me sold within 1 week. Odd extension and location on roundabout, not ideal and odd block

reiwa.com - 16 Almondbury Road, Mount Lawley

 

Lots of pain here. Median house price hit $1M

Be interesting to know ....

 

Seller is State Housing Commission, so no loss. A couple on the street sold in the 800's and 900's a few years ago .

 

Does anyone has any suggestions where to look for good yields (say 4%) and good potential capital growth? I've looked at Perth on/off over last few months but struggled to find good yields. One that I saw in Nedlands not long ago was asking for $1m+, not tenanted and rental guide suggest yield of low 2s! Feels like I'm looking at the wrong places?

 

Probably in the wrong place - ok I know it is in the wrong place - but is there a Perth meet coming up soon?

 

Should be. I missed the last one but should be able to make the next one. If I tag some regulars then they might be able to tag some regulars. @Westminster, @thatbum, @charttv, @Colin Rice, @Jess Peletier. I am only allowed 5 tags so I better stop there.

 

After looking at a few properties over the last week I was surprised at the amount of people at home opens - the Shenton Park property was positively cramped (ok it was a small house!) and there were people out making interesting noises at the Belmont properties as well.

 

@Tommy Batch is my appointed social director Tom feel like organising another one?

 

Nedlands is not known for yield. It's a really nice PPOR area but the houses would produce quite poor yield in general due to their age and high land component.
Have you looked at the REIWA stats to help find the best yielding suburbs? Search For Market Data On Rental Properties In Perth Suburbs - reiwa.com
You also need to take into account that Perth is having some of it's worst yields in a long time so it's not a given that it will stay at this rate but it is a good conservative base rate and consider anything above this to be bonus yield.
If your budget is $1m then you could consider 2 x $500k which might produce better yield. It may come down to a deal not a suburb

 

does anyone know what this sold for? Auction yesterday.

43 Marlow Street Wembley WA 6014 - House for Sale #126597906 - realestate.com.au

 

Thanks, will look at the REIWA website. Agree, I was also thinking of having 2x500k rather than a $1m property but challenge for me is to find the right suburbs.

Any suburbs in Perth that is worth a look in terms of reasonable yield and capital growth? Perhaps something equivalent to Eastern suburbs or lower north shore of Sydney?

 

hard to get both rental yields and predict good capital growth.
for rental yields alone, any of the suburbs with apartment/unit developments close to city have a good demand. around 5% on rental alone. need to factor in strata.

 

Seems extremely odd that you mentioned that 1m houses having low yield. Where in all of Australias's capitals is that not the case (and has been for a long time)?

Anyway, some useful information in this thread and the other Perth thread if you are spend a few hours going through the posts.

Couple of points (all from reading - I have not been there also sorry if any mistakes)
- Perth is the opposite of the east coast. The west is where the beaches are and the beach is a big deal for people in Perth. Flip Sydney left-to-right and you have a good start.
- Proximity to beaches and CBD are both important. I think beaches more but don't discount either. Super weird that so many houses have pools when you come from Sydney and only the really rich people can get land big enough for a pool. Even lots of sub-500k houses have them. I really can not get used to seeing plenty of 450k houses with a pool.
- North started developing before South and you can see it in the prices. 15km north is a little higher priced than 15km south.
- East is the same as western Sydney. Prices are clearly lower, as is the look of the location from what I have seen in lots of photos (could be the photos but it has been a lot of them), I would think about 6km east is similarly priced to 13km north and 15km south (approx).
- In the north Koondoola, Girrawheen, Balga (and I think to slightly lesser extent, but not sure, westminster and nollamara) are/were the houso's. Steer clear unless you have a good reason.They are crazy cheap of course, especially after the correction earlier this year.

For yields and prices, you can use re.com/invest or reiwa (not sure which is more correct
http://maps.reiwa.com.au/#/marketView?location=-31.95285360,115.85733890&zoom=11
Sunshine North Investment Property Market Data

With re.com you can also find out how much suburbs dropped from peak, interesting to note.
Other sites can give you median suburb price and OO%.
It takes time to sift through all of this but is do-able and not that hard and you will start to get some kind of basic feel for it rather than feeling like you are walking in the dark.

I'd also like to hear any suggestions for suburbs in the 450-600 range that people particularly like if anyone has any.

 

I have bought a house in eastern suburbs of Sydney with 4%+ yield when market was flat some 7 years ago, with very little risk of vacancy. I would have thought it's possible that Perth, being a flat-ish market could have such opportunities now but instead, the yield that I've seen so far is not much better than what I can achieve in Sydney.

As much as I like to invest in Perth, especially the falls that it had in the last few years, the investment for me doesn't stack up yet. Hence, I'm happy to see if I'm tracking the wrong places, etc. I've even looked at some commercial properties in Perth some months ago and one of them was even asking for 3% yield!

 

@pwt this would be an interesting yield play. It doesn't have a price but I would assume around $1m 19 Hyde Street Mount Lawley WA 6050 - House for Sale #126820590 - realestate.com.au

 

Thanks @Westminster, looks interesting. I haven't been to Mount Lawley but the location is great. It was one of the areas I was checking out but realised I missed this one as I've set my initial search criteria with slightly too much land component... might have to tweak it again.

 

This may help, its using medians so not really accurate


Source:Boomtown

 

Oh right. 7 years ago, interest rates were 2.5% higher. I think if you are not comparing apples to apples. If you got a property 7 years ago, you lucked out riding the wave of interest rate cuts. I think right now we are facing the tide about to start going back out and will be a tougher situation for a while regarding yields.