WA WA Western Suburbs

I have been following the Western Suburbs in particular Wembley. What do you think about the Suburb in terms of growth potential. Would like ppl view on market value on some of the properties below:

75A Reserve Street Wembley WA 6014 75A Reserve Street Wembley WA 6014 - House for Sale #124847830 - realestate.com.au

2 Honeyeater Circle Wembley WA 6014 2 Honeyeater Circle Wembley WA 6014 - House for Sale #124933722 - realestate.com.au

143 Daglish Street Wembley WA 6014 143 Daglish Street Wembley WA 6014 - House for Sale #124926758 - realestate.com.au

Thanks guys!

 

the houses are very high entry prices??? investment? primary residence?

Blocks have all been cut up? ok for primary residence but if it were me I would not to be the person holding the land which I can then cut up when the market improves.

Blue chip has struggled but I think some markets are now moving OK.

But it really is a loaded question? no one knows how well any area is going to do in 10 years time in term of %.

That is why I prefer to buy when I actually start seeing the market moving and volumes tightening, but we all have different strategies. None of these properties appeal to me for long term investment?

not enough income
not enough land
not enough demand

 

I agree with MTR
For a PPOR the area is ok. Its an old area, a lot of 'original', however most blocks have been chopped up already - then new houses built at the rear.
From a PPOR perspective, I like the pocket west of Lake Monger. However, its a very small pocket - anything on Harbourne st is ruled out cos its such a busy road.

From an investment perspective, I think there are other better locations. There isnt enough land, and rent returns will be lackluster. Though I disagree with MTR on the demand point. I think this area will always be in decent demand due to the location.

However, there may be an opportunity to buy an older house and do a reno. It may add a bit of value (but this would be limited).

For investment at $1mil buy in price, there would be better options elsewhere.

Blacky

 

Thanks for the value input. Initially I am looking at PPOR but will become an investment after a few years. I am struggling to decide to buy a PPOR now or use the money to develope to build up capital. I have zero experience in terms of development but very keen to jump in. I have been reading a bit through this forum and learn a few tips. I know Perth market is still declining and very hard to pick up a deal to make at least 20% profit (seems this is the min. requirement). My budget is aroung 800k ish in terms of total development cost. Any recommendations in terms of suburbs where it is still possible to find a decent deal? Or almost impossible unless the owner is desperate? Any input is welcome.

 

Perth's momentum is still drifting sideways.. I doubt you'll see much in teh way of capital growth in the next 2 years or so. Suburb medians will bounce around, particularly in expensive areas, where house prices can vary from $1m to $10m. The stats might show growth this month or next, but it could just be the sale of some more expensive places..