WA Post a Bargain - Perth

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

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  1. Big Daddy

    Big Daddy Well-Known Member

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    Its a corner lot so it gets R25 (2 unit site)
    Points b to e below are vague. What does point C actually mean?

    LPS10
    5.3.1 Split Density Code and Corner Lots
    5.3.1.2 Subdivision or development in excess of the lower density coding shall be considered to be acceptable to Council where:-
    (a) in the opinion of Council the lot has a road frontage sufficient to allow at least two homes and a shared accessway, where required to service development to the rear;
    (b) There is due regard for relevant Local Planning Policies;
    (c) Identified heritage objectives are not compromised;
    (d) The proposal demonstrates elements of water sensitive urban design; and
    (e) The existing streetscape is being preserved.

    5.3.1.3 The Council may permit the development, or support the subdivision of an existing R17.5 or R20 coded corner lot to a maximum density of R25 provided the original lot has frontage to two constructed roads and any new lots created or new dwellings constructed shall have their own frontage to a constructed road
     
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  2. Big Daddy

    Big Daddy Well-Known Member

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    Does the R20/40 zoning override it being a corner lot (max R25) so it can get R40 if it complies wiht 5.3.1.2, or is every lot in that pocket zoned R20/40 and then corner lots are then zoned lower with 5.3.1.3. Too much ambiguity in everything.
     
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  3. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    My reading was that all lots in the whole council which are corner lots can be R25 instead of a lower zoning. If it's zoned higher then it uses the higher zoning.
     
  4. thatbum

    thatbum Well-Known Member

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    To me it simply reads as both provisions co-exist.
     
  5. doubletoplei

    doubletoplei Well-Known Member

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    Spot on Anthony!

    I recon the rent might be around $250/week, and yearly seems around the $15k mark loss. Other than the house itself, owner is reluctant to remove the wooden caravan which stayed on the spot for the past xx years. There is a big tree on the side, and a few sheds in the backyard. And no, the agent was really pushy and not open for negotiation on prices...


     
  6. doubletoplei

    doubletoplei Well-Known Member

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    Property already under contract... Someone has done their study ahead of time or a impulse buy :p


     
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  7. sigi

    sigi Active Member

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    I've talked to Bassendean council about an R20/R40 before and IIRC you need to have two street frontages of minimum 10m to get the R40. I didn't look inside this property but I had a drive past out of interest and I can't see how you could keep the existing house without sinking way too much money into it. Maybe it could be worth it for someone who wants a PPOR with character, and selling off the back could help pay for the renos?
     
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  8. Anthony Brew

    Anthony Brew Well-Known Member

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    If you need 2 street frontages for the R40, doesn't that means you could not use the R40 to put a block or two behind while keeping the front house since there is no street frontage for the one behind?
     
  9. Anthony Brew

    Anthony Brew Well-Known Member

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    Interesting.
    When I looked over the past year of sales, I saw a number of cheaper properties (on 700sq blocks) in the mid-to-upper 4's, and perfectly decent condition for 520-550 (condition just from pics, so not necessarily accurate), and there were also some nicer properties in the 600's.
    I found it hard to know why the price varied so much since the properties looked to be spread without the cheaper ones being all in just one area (that I could see).
    This makes me a bit wary about Bassendean because I find it hard to nail down why properties are going for such a wide rage of prices.

    I am curious if that property really was worth 519 or not (ad says 'Offers over $519,000').
    From the sales I saw online, I would have thought it was overpaying, but I am not on the ground so I could easily be off. Also might help to get the R40 since it is a corner block so maybe that would have made enough of a difference to be worth that price even though the house doesn't look liveable.
     
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  10. doubletoplei

    doubletoplei Well-Known Member

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    I talked to the agent over the phone and he is very firm on the price. When I said I will probably ring again after X'mas he sounds a bit ****** and said the property will definitely be sold by then. Looks like he has a point despite his bad temper :p
     
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  11. sigi

    sigi Active Member

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    Sorry, I meant you need one street frontage of at least 10m for each block. So in this case the rear block would have frontage on First Ave.
     
  12. JLui

    JLui Active Member

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    Hey everyone,

    I hope you don't confuse me with JL1 but I was exploring the option of buying a block of units in Perth to hold for long term as Perth seems to be set for good solid economic growth when diversification really takes place.

    Ideally I'd look to do it in the Western suburbs - what do you all think of this strategy?
     
  13. Khash

    Khash Member

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    102 James St Gosnells WA 6110 - House for Sale #127062266 - realestate.com.au
    Hi Westminster, I just thought you be interested to know that the property sold for $265k with 9 bidders. I was expecting to be not more than $200k. For this to be viable, the end value would have to be at least $450k, ie $150k for each of the 3 strata lots which I think is too optimistic. any thoughts on your end ?
     
  14. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I agree. It is most likely someone who has bought who doesn't know how much it costs to subdivide OR they are hoping for prices to go up and that to create profit.
     
  15. Big Daddy

    Big Daddy Well-Known Member

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    Is their clay in the soil? Does Gosnells have deep sewerage?
     
  16. Khash

    Khash Member

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    not sure about that address but some locations in Gosnells is sand with Class A classification. dont know about the sewerage.
     
  17. Stu

    Stu Well-Known Member

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    Might have been a good marketing tactic by the agent - low starting price to get interest and attract multiple bidders. I wonder if they would have got the same result if they had gone to market with a fixed asking price?
     
  18. Scaphella

    Scaphella Well-Known Member

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  19. Scaphella

    Scaphella Well-Known Member

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    FYI this sold for $990k incase anyone was interested.
    (14 Camberwarra Drive craigie)
     
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  20. Propin

    Propin Well-Known Member

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    Yes it would rent for $250/wk if it was reasonable but I've noticed the old 2 bed houses take longer to rent, easier to rent a 3 bed.

    Some streets are more popular than others. I remember years ago the avenues weren't popular and were cheaper than the rest of the suburb, than people started to see the character and they had good growth. I think the price was reasonable. Would have expected around $525,000. That area would have good access to the cafes. My favourite Basso cafe - 02 IMG_9043.JPG
     
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