WA Rockingham WA - What’s the big deal?

Spoke with agent

 

yes allow for 3 month lag

 

If it has been cleared then Do you still see an issue?

 

Fair enough. Different leagues after all.

 

I was wondering the same. I have seen experienced investors in this forum wanting to snap up ex-drug houses coz they are cheap, and on the other hand, if you had unknowingly signed a contract on an ex-drug house, and found out later, you'd just get it cleaned and tenant it anyway. So logically, why not. (Unless someone more experienced can correct me here??) But I guess it's a psychological hurdle to overcome.

 

It is just next yo the main Read st...traffic noise vs lower rent!

 

Also appears to be a fair few new builds in Singleton. I am noticing land sizes on the newer estates are getting smaller and smaller.

 

Yes the older estate, the blocks were decent sizes around 650 sqm. I built in this area in boom of 2001.

 

I have an opportunity to get a 4x2 in Cooloongup, close to hourglass reserve. It is 685sqm and $398k. Property was built in 1993, no pool, nothing fancy but not a lot of work required either. Interested to hear thoughts?

 

Have you had someone look at it and street etc

 

Yes PM looked at the house. No major issues. Just wondering if it's a good area and all. And if price seems right. SQM has cooloongup asking price for combined houses at 420kish , but looking at median from dsr data it is lower than that.

Also when I see "Offers Over xxx" I noticed it's selling for more.

 

For those from out of State buyers who never been to Rockingham


Garden Island is a naval base. Government has purchased houses in Rockingham for their navy personnel.

Garden Island Kayak Trail, Rockingham: Print Trail Information | Trails WA


WA's Garden Island is not just a naval base, it's an ark for rare species and keeper of colonial history - ABC News

 

In this market its pretty good. 4x2 going over $400k.
What is expected rent. $400-450 pw?

 

Thank you. Yes bang on. Could fetch $460 according to PM. One other thing is that the neighboring property is actually in Waikiki already, which is a higher median suburb. In my mind it is a good thing, but not sure if it has significant impact.

 

What are your thoughts on the announcement this morning of a new 900 home estate in Port Kennedy, WA.
Supply and demand principle, will this have a negative impact on the current values?

 

They have to build ?? Its going to take years in this market. We have a building boom and hard to source trades etc

Like everything, if you buy well and at the early stages of the boom cycle you will be fine from my experience.

 

Heaps of supply with vast amounts still possible to develop. Cookie cutter central in the land estates but you could consider a landbank of some larger land if you had money. Was a foreclosure central area when prices corrected after last boom.

 

Just performed an inspection on my recent Waikiki property purchase this morning.

RE Agent said clean it up and we can put it back on market with offers from $399,000, as I mentioned in another post I paid $320,000 4x2.

He said Very difficult to buy 4x2 under $400,000

No point flipping this one as I am expecting much more growth for this area in 2022.

 

Well done!! And fully agree! Actively trying to buy in the last few weeks and even find that very few are going under 450!!

 

Is it beachside?