WA Post a Bargain - Perth

Its always been like that, some dodgy pockets

 

Yes. I didn't think they would put laminex in a kitchen that nice

I was just trying to compare the colour, which I am not sure is possible using photos.

 

I would be buying now if you are interested in this market.

 

Yeh there is one particular one that just dropped the price by $50k, looking on Sunday.

Haven't seen it in the flesh though, odds are there is something wrong with it. Hopefully just needs some things fixed which I can do myself easily enough.

Only issue is I doubt I will do well selling my place. Rezoned since I bought it but the prices inflated when it was just propsoed.

 

Perhaps Girrawheen has bounced back?? prices seem similar to 2014, though I know they did fall back in 2015

40 Golders Way, Girrawheen, WA 6064 - Property Details

 

Closest comparison I have to my property is below. Rezoned, and not too far from me. At least it is in Marangaroo and rezoned so as close to apples and apples as I can get.

Difference to mine is I am not on the main drag, and a level block. That one has its eave line level with the street and is on Highclere which is a fairly major road.

5 Highclere Boulevard, Marangaroo, WA 6064 - Property Details

 

Rent it out? Is there a market for that in your area? If you can hold until prices rise it could work well.

 

Rent returns aren't great. I bought my place because of the land and the location of the house on building envelope (easiest retain and build of all time). The 87m2 3x1 on the block isn't really appetising for people to rent!

 

I think there are also lots of new villas in nearby Balga which is probably more appealing for renters and your competition

 

Agreed.

Have enough redraw to at least grab the place I am looking at if it gets to that point, see what happens. Would like to hold on to Marangaroo if I can as I think longer term it is well located to do pretty well.

 

I am sure it will

 

Snooze I lose, property just went under offer.

This was the place. Went from $599k to $549k and had been up a while...

5a Cann Place Marmion WA 6020 - Duplex/Semi-Detached for Sale #124184390 - realestate.com.au

 

Make sure you structure it right!!

 

Damn shame - good price for the area and some already updated parts of the house - just the bathroom to go.

 

That place was nice! Gotta move quick after a price drop though.

I watched a place for 5 months. Then there was another price drop that made it really attractive. From me seeing the price drop to under offer was 48 hours. I was competing with another offer too.

 

Seems like a fantastic deal but assuming you demo and build new, how much does the build cost?

67 Williams Road Nedlands WA 6009 67 Williams Road Nedlands WA 6009 - House for Sale #124491702 - realestate.com.au

@Westminster and @MTR have you ever built anything high end?

 

no

 

Actually would be terrible value ATM. The bargains in this pocket are from buying product a lot less than replacement value, or if you built a home for 1.2m here which is about minimum for the area, you're talking 2.8-3m all up including holding cost, demo etc.

For 3m you could buy a property that would be 4m to replace.

There have been near new homes in blue chip suburbs that cost the sellers close to 3m that have. Sold for as low as 1.85m

 

Just my own PPOR. The closest I got to high end was my DA for Highgate which the end values were going to be 1.2m each but it was refused and mediation didn't work so I did the 6 x SBDs instead.

It's a nice PPOR location and price of the land per sqm is dead cheap but as @sanj says you could probably pick up a finished product for under cost at the moment which would be tempting if you didn't have specific needs or certain tastes.

We spent ages trying to find an established PPOR and everything would need modifications and in the end decided to build.

 

Now this is a bargain

20 May Street Bayswater WA 6053 - House for Sale #124541362 - realestate.com.au

And I'm sure a number of you are onto it