WA What areas - Perth

Hi Cliffe
An area that may suit your strategy and as cheap as chips

Rockingham (Cooloongup?) sp... this suburb is the cheapest pocket in Rockingham, I would buy as close to rail as possible. I think you can buy today for possibly $300K, 3x1, rent around $300-350 pw?

There are also expensive pockets in Rockingham close to beach with development potential but obviously this wont give you the right returns today.

MTR

 

I thought @See Change wanted inner to middle ring? My bang for buck would be Bedford and Bayswater but they are up to double that price.
I'd follow the train line (any of them) as 10, 20, 30yrs from now they will be the lifeline of the city

 

Perhaps he does but he wont pick these babies up for Mt Druitt prices, he will need a minimum of $600K-700K+, I am assuming he is looking at purchasing houses? older units? what do you pick up for $300K??

 

Ah your right I didn't see the second part of his post, just saw

not the bit which you read which was

 

Thanks
What's interesting is that prior to the Syd boom, I think you could pick up properties/houses in Mt Druitt for around $280K, they have doubled now.

I guess @See Change will be trying to repeat the same here in Perth.

Middle ring? would you say this 10-25km from city?

Just thought of a good area to look at MIRRABOOKA, that could tick many boxes

MTR

 

Hmmm ring thoughts.
inner city - less than 5kms from CBD
inner ring - 5-10km from city
middle ring - 10-20
outer ring - 20-30 (up to 35km if on train line = Clarkson train station to North and not sure of SOR train line equivalent)
outer outer ring 30 +
whoop whoop 45+

 

Here's one in Mirrabooka, does not look too bad, corner lot, option of G/flat. Close to city

42 Honeywell Boulevard Mirrabooka WA 6061 - House for Sale #120283457 - realestate.com.au

 

Houses like that used to be $300s not that long ago in Mirrabooka. Interesting times.

 

Such a crap yield in Mirrabooka for the price though? I'd rather go further south, get the better yield, train line and closer to the beach.

 

The last rise we had you could buy in early mid 300s.
Good value though considering proximity to city, always had a stigma, but I think its changing.

 

I'm not sure the stigma is getting better, in fact I think it's getting worse. It's different to Balga etc which was houso stigma. Mirrabooka has a lot of refugee racial tension issues as it's a true melting pot of cultures Mirrabooka Demographics (WA) Local Stats
Tenant management can be difficult with poor English skills, cultures where extended family live together having more people in the property than originally allowed, low knowledge about WA tenant expectations etc etc
I hope I don't sound racist, I'm just pointing out that the tenancy pool is different to other areas and it may cause issues.

 

Don't worry about it, comes no where close to Mt Druitt, struggle street.

 

with soften market, what discount do we expect for such as house like this in Perth? I am seeing with sold in the last few months about the 380-390k. This would be a 10% discount.

 

is it like doonside, lalor park?

 

Leda/Medina/Orelia areas have sub-300k stock. Comes with stigma. Close proximity to Kwinana(employment) and close to Wellard, which grew quite a bit in last cycle and has a train station.

Armadale - Can pick up sub-300k blocks. Comes with stigma but also has growth drivers especially if you holding it for the long term. Last station on that train line. schools, massive shopping malls, hospital etc. Some areas have higher number of state houses so watch out for those. Dev blocks seem to be popping up every now and then but the end product won't stack-up in current market so has to be B&H. I am currently looking at this Suburb but may or may not buy.

Mandurah - Was there a few weeks ago to get a better feel for the place. Can find sub-300k stock, high unemployment, high state housing, low yields. A council very resistant to change. Prices in free fall so I just kept a tab on it for now.May be in 2 to 3 years time if it starts moving otherwise is pretty much a dud at the moment.

Butler/Clarkson - lot of new houses. Has got train station and schools. Not that far from Joondalup. Most stock is already priced-in but if you can find something sub-350k for a good block then go for it.

Ridgewood has some new house activity. Bunch of NRAS properties coming up but end product is already priced in. Could be good for cash flow but highly doubt good CG.

 

I guess so, the State Housing pockets of Doonside, I would put Cooloongup, Rockingham in this category.

 

Nice summary
Leda/Medina/Orelia pretty much scraping the barrel.

 

absolutely agree with you. I won't be building on this site until it makes sense, certainly not now

 

agree, but certainly entry level, house land, not higher end, still below prices of 2007

 

Anyone heard of this IOG proposal? Indian Ocean Gateway

May never take off the ground but who knows.