WA Where to buy as an Investment in Perth ?

Discussion in 'Where to Buy' started by Thiaga, 23rd Jun, 2017.

Join Australia's most dynamic and respected property investment community
  1. Thiaga

    Thiaga Member

    Joined:
    21st Jun, 2017
    Posts:
    12
    Location:
    Melbourne
    Guys,

    I have own PPOR and currently looking to invest . However, I have no idea where to invest .
    Quick research tells me anything close to city I will be better off . What you guys think of Belmont ?
    Any other area you would recommend ? I'm looking to rent out and hopefully have a good capital gain when the market picks up again. Budget $400 000
     
  2. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    $400,000 would be tight for Belmont. What have you seen in that price range and what did you think?
     
  3. Purple Patch

    Purple Patch Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    158
    Location:
    Darwin
    Have a look at this Ascot Waters - Blackburne
    Starts at $415k, their previous project Aria in Swanbourne was good.
    I am considering one of these, great location
    Cheers
    PP
     
  4. Thiaga

    Thiaga Member

    Joined:
    21st Jun, 2017
    Posts:
    12
    Location:
    Melbourne
  5. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,673
    Location:
    Perth WA + Buderim Qld
    What are your long term plans? Are you just planning to buy one IP and that's it, or a few over time?
     
  6. Thiaga

    Thiaga Member

    Joined:
    21st Jun, 2017
    Posts:
    12
    Location:
    Melbourne
    Long term plan to own few investment property.
     
  7. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,149
    Location:
    Sydney
    I know nothing about Perth. but why does Belmont come up more often than other suburbs? just an observation..is it the cheapest but closest to CBD?
     
  8. HD_ACE

    HD_ACE Game-Changer

    Joined:
    18th Jun, 2015
    Posts:
    491
    Location:
    Perth
    Where is your PPOR?
    Belmont/cloverdale/kewdale could be good options if your picky and looking long term.
    I also see you mentioned Kiara. Very small suburb ( Split off and renamed) so stock levels and quality vary.
    Depending if your looking house, unit or apartment, bassendean/ bayswater/morley areas would be my pick to look further into.

    To many options, depends on your plans moving forward.

    Can you get the funds to develop soon after purchase for a retain and build or subdivide and sell the land to get moving quicker?


    Because @Perthguy lives there ;) jokes

    Basically fairly close to the city, has all the amenities one would need and the entry price was very reasonable. The trade off some would say would be the demographics. It also went through a rezoning a few years back where everyone jumped on the band wagon. I would say this has improved the area overall even though it has created some over supply.
     
    Thiaga, Perthguy and RetireRich101 like this.
  9. Cruskits

    Cruskits Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    76
    Location:
    Perth
    Yeah pretty much, I imagine you have had a look at Google maps. Close to the city but seperated by the Swan River. Big 1billion dollar state of the art stadium being completed close by. This will bring new industry / infrastructure with it. Cafes bars restaurants in time. Being slowly regentrified.

    It has absolutely been hammered in prices, some of the biggest % falls in the Perth CBD outside of 1 million dollar + suburbs. Nedlands, Dalkeith, Cottesloe etc. these suburbs are seeing price rises but Belmont still is languishing to the best of my knowledge.

    Maybe you could compare it to parts of Western Sydney in its comparison to Perth in socio economic status. Kinda but not really...

    I would never ever buy there and that would be echoed by many Perthites on PropertyChat. Don't get me wrong people have and will make money in this pocket, but not for me. Edit: cruskits buys development site in Belmont in 2024 as development sites skyrocket...

    Maybe it is mentioned because people purchased development sites and they are watching for a change in the market or more likely the prices are attractive because they are so low.
     
    Thiaga and RetireRich101 like this.
  10. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,149
    Location:
    Sydney
    If Belmont is roughly equals to Sydney West, what about
    Beecheroo, Girawheen, Balga as to Sydney?
    Lockridge, Kiara as to Sydney
     
  11. Cruskits

    Cruskits Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    76
    Location:
    Perth
    Yeah all those suburbs the same, just in a different direction :)

    You could put Armadale and surrounds into that basket as well.
     
  12. Propin

    Propin Well-Known Member

    Joined:
    7th Mar, 2016
    Posts:
    3,618
    Location:
    Perth
    Nah, I'd put Kiara in with Bassendean/Morley. Public Transport is crap which holds it back. Rail one day will fix that. I would put Eden Hill in with the Westy Suburbs though!

    Edit- There is some nice streets in Eden Hill though (Morley side) and a few average streets in Kiara near the back of Kiara College. I think both suburbs have potential.
     
    Last edited: 24th Jun, 2017
  13. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
    Find a train station. Buy what you can afford around it.
     
    Thiaga, ellejay and Cruskits like this.
  14. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
    charttv and Perthguy like this.
  15. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    It's close to the CBD and seems undervalued for the location compared to going south or west. That said, there are often not a lot of good deals around the area. It's near crown and the airport so it should do well but what really the whole area back is a lack of good schools. South has Rossmoyne and Willetton Senior High Schools. Belmont has Belmont City College, which in no way compares. I think the area will always lag because of that.
     
    RetireRich101 and Scott Townsend like this.
  16. Thiaga

    Thiaga Member

    Joined:
    21st Jun, 2017
    Posts:
    12
    Location:
    Melbourne
    My PPOR is in Dayton,6055.

    Thanks for your response.
     
  17. Thiaga

    Thiaga Member

    Joined:
    21st Jun, 2017
    Posts:
    12
    Location:
    Melbourne
    What you guys think about Lynwood ?
     
  18. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
  19. Big Daddy

    Big Daddy Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    998
    Location:
    Perth
    Whats the deal with getting finance o small 1 bed apartment. Is it harder/impossibleif strata plan shows less than 40sqm or the title shows less than 35sqm?
    Heres one in Jolimont, lots of land, 3 level walk up. Are these ideal candidates?
    5/9 Currie Street Jolimont WA 6014 - Apartment for Sale #125761670 - realestate.com.au


    @Thiaga HTW July Update:
    The median sale price in Perth has reduced to $515,000, meaning that buyers continue to get better value out of their lazy half a million. Our success rate from our recommendations last year was somewhat lack lustre, but heavily influenced in a negative manner by state government tweaks to first home buyers grants directing traffic to new estates as opposed to established suburbs. Two of our recommendations out performed the rest of themarket (Ferndale and Kingsley) whilst the remainder struggled to gain any traction (Greenwood, Armadale and Kelmscott)
     
    Thiaga likes this.
  20. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
    Tano they don't have a land component. No private use of outdoor areas so valuation would be as the dwelling only.
     
    Big Daddy likes this.