WA What areas - Perth

But medians are only the points for that year so it still can be skewed? if only the high value or only the low value houses are sold then it can move quite dramatically.

 

Yep.....in some of the more expensive suburbs you can have a median of 1.1m..but still find houses for say 500k...now that is value. Some starting to show in Perth....ther in lies opportunity.

 

Soo, any updates to this? I for one am thinking wembley or glendalough are starting to seem like nice areas to consider as a first IP. but this might differ for you more experienced Investors

 

Two vastly different areas there. Glendalough is mainly all old flats/apartments, some dev sites available, and Wembley is typically character homes with values well in excess of 1mill. There may be pockets of apartments & townhouses.

What price range would you be looking in for your IP?

 

This ones better;

KGB = Koondoola, Girrawheen and Balga.

If you drive through you will see this tag around the place. I think it was a gang name

 

Any of them named Spetnaz...they are the ones I would worry about.

 

Had to google that one. They need a squad to clean the riff raff out of the KGB.

https://www.google.com.au/url?sa=t&...pBb0lc&usg=AFQjCNHdnbzXLZRw1qkmljeltsKct0-4LA

 

Spetsnaz is Russian "special forces" for those who can't be bothered with google/links etc.

 

very good

 

You'd probably only need one...

 

p

Probably about 400k? looking at older houses or units and apartments. I keep hearing about how a large chunk of wembley (or the edges of it) are state housing and they are trying to gentrify those areas.

 

$400k in Wembley won't go far unless it's one of the many, many, many large apartment complexes. It does have some state housing but it's still an expensive area with everything around $700k that isn't one of the older $200-300k apartments.

I thought you were thinking along the lines of buying something you can do something in the rear of?

 

Where would you look for splitter blocks around $400k? Maybe Beckenham but it seems quite oversupplied with new builds. Not sure how the rental market is going there though.

 

well I'm doing research at the moment, trying to get a feel during the next 3 months or so while I save up my 10%, nothing really fixed at the moment.

 

Plenty of time. Prices are not going anywhere but down.

 

Have not looked lately but wondering how values in Yokine are holding up.

Have a R30, 3 unit development site, 920 sqm, good pocket of Yokine. The house on property is in very good condition and rents for $600 pw. Flat level block

I don't think there are too many 3 unit sites in Yokine with this size land? This property would have flown out the door in 2013/14? Today... anyone estimate rough price.
I was thinking perhaps $950K?? Am I about right??

 

It's not that uncommon. Yokine seems to either have mid 600s or 900s as their main sizes.
Sounds like a nice block though and yes would have flown out the door as a nice triplex site. It is probably still very popular now though and probably is around $1000 psqm.
If I was to look at what is currently available this is similar but R40 so would be a quad site 21 DALEY STREET Yokine WA 6060 - House for Sale #123689454 - realestate.com.au . I can't say if your's is a nicer location though and therefore worth same, less or more

 

Thanks WM
I think comparable in terms of location, or perhaps our location may be a tad more desirable cos closer to Yokine golf club.
This block can fit 4, though they would need to be double storey, as opposed to my block, 3 villa, build cost cheaper. I think they may be similar price range?
Perhaps would have achieved $1.1M in 2013/14??? not sure, but there was quite a bit of competition at this time.

 

Some interesting sale results in Yokine for larger blocks recently.

31 Constance St, 981sqm - $780,000 on 23/09/16
125 Flinders St, 1051sqm - $779,000 on 14/10/16
70 Woodrow Ave, 1052sqm - $840,000 on 23/08/16

 

Thanks interesting indeed.

Flinders Street, main road always going to be cheaper

Woodrow Ave - that appears to be good value?

Constance St, that is only a duplex block? checked the listing, thought it was very cheap