WA Where to buy in Perth?

Discussion in 'Where to Buy' started by Realist35, 15th Sep, 2016.

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  1. Cruskits

    Cruskits Well-Known Member

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    @Realist35.... What @thatbum says is 100% on the money if you are serious about buying a PPOR or IP for that matter (but not as important). I'm not even in the market for another property at the moment but every time I leave the house I am scouring streets within suburbs I like for future purchases.... There are streets within suburbs that are 5 times more desirable than those streets around it. Tree lined street, nice park, coffee on the corner, just the feel of it, future potential. Then there are also houses on these streets that just jump out at you. I literally write these houses down and get so excited when they get listed because you just know someone s getting a ripper place.

    This just happened with a listing in Perth. Place was priced perfectly corner triplex block. Sold in 48 hours.....

    Also you are about to spend $550,000 on a purchase of a PPOR. You say you don't have the time to do the on the ground research. You just HAVE to find the time. This is where you are going to build your life, raise a family. And also spend $550,000!!!!

    I'm not saying this is you but it bugs me so much when people put so much research into a new fishing reel or fridge or new phone checking out every possible variable pay $2000 and be a know all about every detail before purchase. This same person will not put in the same amount of effort to spend 100's of thousands of dollars, even millions. Take a week off work if you can and start driving. It will be the best investment you ever make.
     
  2. theperthurbanist

    theperthurbanist Well-Known Member

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    Check out "Margaret Lomas - 20 Must Ask Questions for every property investor" for a rundown on key metrics you should be looking at. There is a free pdf copy somewhere on the forum if you search for it!
     
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  3. Perthguy

    Perthguy Well-Known Member

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    I agree 100% with what @Cruskits said plus nothing beats feet on the ground. As a minimum I would at least walk around the block were the house is located. I did this on my last potential PPoR purchase and it dropped off the list because of what was in the area. You can pick up things walking that you wont pick up from the car.
     
  4. chesterfield

    chesterfield Well-Known Member

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    I wouldn't use the recent reiwa data for percentage price growth/fall as an indication of a direction of a suburb. For example you have highgate falling 18%, if you back tracked 3 months ago it went up 20%... 6 months before that, down 12% and one year before up 15%. These percentages aren't reliable because here may have only been 3 units around 500k sold in the last 3 months, compared to 1 house the 3 months before around 1mil.

    Look for pockets where social housing is being planned for demolition or investment is being planned. Scarborough also a good suburb for that, people who buy in Perth always going to be attracted to the beach and there are lots of rough areas primed for redevelopment.

    IMO if you are thinking 5 to 10 years (which you should be for Perth) you want to be amongst the up and coming places, highgate (east of beaufort street), maylands, northbridge, pockets of north perth. All gentrifying now and in the near future.

    Mt Hawthorn is an awesome spot, but didn't think that is going to have much gentrification? Other than a bike path along Shakespeare street that the NIMBY car drivers don't approve of.

    Walk score is key, try and find something about the 80's!
     
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  5. Realist35

    Realist35 Well-Known Member

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    Thanks mate.

    How do I find what developments are being planned for different suburbs?

    Also I had the same idea about Scarborough. As a 200mil project is underway, with pools, cafes etc. I thought it would make a sound investment. However I read a comment from another poster saying that all new investments that will gentrify/beautify a certain suburb are already known to the investors and hence they're already priced in the properties in the area. What's your view on this?
     
  6. Realist35

    Realist35 Well-Known Member

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    I looked for it. It must not be available anymore:(.
     
  7. Realist35

    Realist35 Well-Known Member

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    Wow, both of them look really beautiful. I'll definitely go for a walk and see what their surroundings look like.

    Also thanks for the suggestion to look for unique things in the area. I'll add that to my list. Especially because I can afford a 3 or 4 bedder in Maylands, unlike in some other suburbs.
     
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  8. moridog

    moridog Well-Known Member

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    If you are seriously considering something around Maylands, Inglewood, Highgate , Mt Lawley, pm me the address, I will have a look whilst I am on the road.
     
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  9. Perthguy

    Perthguy Well-Known Member

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    I always look at the listings for rent. If there are very few 4x2s on the market then I would talk to agents to see if there is demand for 4x2s in the area that is not being met.
     
  10. Realist35

    Realist35 Well-Known Member

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    Very sound advice! I might do the same. But i think i first need to bring my top 10 list to max top 3 and then more closely follow those suburbs. Otherwise it just gets messy.
     
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  11. Realist35

    Realist35 Well-Known Member

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    That's very kind of you, thanks very much:).
     
  12. MTR

    MTR Well-Known Member

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