WA Development Advice Needed

There's sites that can do the 20% definitely, but you just need to look closely to find them.

Its not the case that you can pick up any old site and expect an easy 20% - if that ever becomes the case then its probably worth it to look harder for the 30% or 40% plus sites.

 

Just curious because finding something similar in Melbourne at that price and with development potential is very difficult as you're competing with so many others. Not impossible, but competition is tough.

Figured Perth may have more because of the current market situation.

 

$700k is a bit of an awkward amount but there are a lot of middle ring surburbs with development sites in that price rang BUT many of them won't stack it, it will take some looking for the gems through all the fools gold.
eg 17 Stuart Street, Maylands, WA 6051 - Property Details which was a retain and build 2 behind
$800k offers a lot more scope as you can go well into the inner ring and then it might have something outside the box
eg 207 Central Avenue, Mount Lawley, WA 6050 - Property Details another retain and build 2 behind

Vanilla triplexes etc are the hardest to make work at the moment but there are ones out there.

 

That's crystal ball stuff, we just don't know what and where the Perth market will be in 3-5 years. I can only work on today.
My last projects in Perth were in 2013/2014, market was strong during this period, today nothing makes too much sense... risk is too high for me.

However, in saying this perhaps there are those that can make it work and I am missing something.

You are from Melb?? why are you not playing in this market or perhaps look at regional centres? Geelong?? Just curious. Though I guess its getting to close to peak??

 

I am from Melbourne.

Hi mtr,

Yes, I am from Melbourne.

My wife and I settled on a place in the South East a few months ago so I doubt we'll be buying anything until next year.

Just keeping the feelers out for what's happening in Brisbane and Perth as I'm thinking our next purchase will be interstate and hopefully a development site. I'm not too keen on buying regional to be honest.