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suburbs with planned infrastructure- burswood

Discussion in 'Where to Buy' started by alastair, 22nd Feb, 2016.

  1. alastair

    alastair New Member

    Joined:
    22nd Feb, 2016
    Posts:
    3
    Location:
    Perth
    Hi guys,

    I just wanted to get everyones thoughts on how new infrastructure can impact a suburb. The market is in a bit of a downturn but is it a safe bet to purchase within a stone throw of Perths new stadium? Im looking at buying an apartment (to be completed in 2018) opposite Burswood train station- 500m from crown and 1km to the new stadium. The name of the complex is 'Crest apartments' by norup and wilson. What is everyones thoughts on the potential growth of burswood with the stadium and other infrastructure to follow?
     
  2. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,299
    Location:
    Perth, Melbourne, USA
    My girlfriend is trying to sell her apartment/primary residence at $1.3M Burswood with city views, no takers at just over $1M. Her strata fees are around $10,000 ouch.

    Not a fan of this type of investment? for me its a NO, there are too many apartments going up everywhere in Perth at the moment. Future growth don't know, today would be my only concern

    MTR:)
     
  3. alastair

    alastair New Member

    Joined:
    22nd Feb, 2016
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    Location:
    Perth
    Interesting, I came across an article that tends to agree with me ( see below). While i agree there is far to many high rise apartment complexes either built or in the pipeline to be built, quite a few proposed complexes have been knocked back in burswood precinct and this is the only complex allowed to go ahead for the time being due to council restrictions and other factors. So at least in the short to medium term their wont be an over supply in burswood in my opinion. Stadium, casino and train station along with bridge to east perth.. more than enough to spark peoples interest, resulting in growth.

    Getting in on the ground floor
     
  4. alastair

    alastair New Member

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    22nd Feb, 2016
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    Location:
    Perth
    Thanks for the advice guys....
     
  5. leroylee123

    leroylee123 New Member

    Joined:
    25th May, 2016
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    Location:
    South Perth
    Being able to buy into a high growth area so close to the city is definitely a huge benefit. The benefit being future improvements to infrastructure and future development in the surrounding area. Getting in early will give better potential to capital growth.

    Especially with the Stadium and the New Crown Towers being built in the next year and a half, there will be over $2 Billion in investment in the Burswood area. It's going to be very exciting to live in the Burswood Precinct in the next 5 years, especially when the commercial activities start once the Stadium is up and running.

    Most importantly, you've got to buy into the right development which is iconic and with great amenities. The key ingredients to any real estate investment. The Crest does indeed look very promising. I haven't seen any other apartment towers that high, which has been approved in the area.
     
  6. John Ferguson

    John Ferguson Well-Known Member

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    22nd May, 2016
    Posts:
    71
    Location:
    Hobart, Tasmania
    No go zone postcodes for WA due to an over supply of apartments. These were released by the Macquarie bank.

    Postcodes
    6000, 6001, 6002, 6003, 6004, 6005, 6210

    Isn't Burswood 6001.

    I'd steer clear of o was you as there will be no growth for years to come until demand catches up to supply.
     
  7. leroylee123

    leroylee123 New Member

    Joined:
    25th May, 2016
    Posts:
    2
    Location:
    South Perth
    Burswood is actually 6100:)
     
    John Ferguson and +men like this.