WA Where to buy in WA

Discussion in 'Where to Buy' started by S-Star, 19th Jul, 2016.

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  1. Hwangers

    Hwangers Well-Known Member

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    would there be sufficient demand currently for the end product of the armadale one? vacant land for a mil - would need to have reasonably deep pockets...

    as a rough guide how long does a typical DA get rubber stamped by Perth council (assuming no hiccups) - council dependent I imagine?
     
  2. JL1

    JL1 Well-Known Member

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    That is a development site vs. a residential lot site, and I am only talking residential. (side note, 240k means 70k land cost per development + site fees + build cost + marketing etc. so you'd be pushing up to 300k to get your money back when most new townhouses sell between 250-300. Even at that price it's giong to take a switched in developer to make money from it).

    Regardless it goes to my point - if you want space near the city in Perth, you don't have to pay much in comparison to other cities and in comparison to the sqm rate difference for inner to outer living. Your example is $1290/sqm. I consider Malvern in Melb a comparison suburb, with this recent example going for $4,456/sqm (and house prices have gone up ~7% since then). 18 Wilks Avenue, Malvern, Vic 3144 - Property Details

    If you want a comparison suburb to Armadale, look at Sunbury. It's almost 1 for 1 in so many ways. But big lots with a back yard near the city are rare in Melb, and when you do find them, you're dreaming if you think you'd pay anywhere near as low as Perth prices for them.

    So back to my original point - i think the best long term investments in Perth right now consist of big lots near the city at a good sqm rate.
     
  3. Hwangers

    Hwangers Well-Known Member

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    very interesting - would have thought that there is a larger premium for proximity to CBD but apparently not

    so what you are saying if a family has the choice of (using @sanj example) a suburb 7km vs suburb 20km out then the family would have a good chance of picking the suburb 20km out?

    where are all the jobs located? CBD predominantly no?
     
  4. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    @Kel
    Doubleview is a good pick over Innaloo - it's a lot less over developed and what is developed tends to be nicer. This is mainly due to Doubleview having slightly smaller blocks so they are duplex rather than triplex and it also has some nice laneways.

    I would also look at
    Maylands
    Inglewood 41 Carrington Street Inglewood WA 6052 - Residential Land for Sale #201665614 - realestate.com.au
    Bayswater
    Karrinyup
    Scarborough Lots 1 2 & 3 154 Brighton Road Scarborough WA 6019 - Residential Land for Sale #201647034 - realestate.com.au
    Gwelup 3/28 Porter Street Gwelup WA 6018 - Unit for Sale #124145530 - realestate.com.au
     
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  5. JL1

    JL1 Well-Known Member

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    I think the hardest thing for non-Perthians to grapple with is that people really dont mind travelling for work. There is a huge focus on lifestyle, and i think a big part of that is that many migrants choose to move to Perth as a lifestlye change from where they were living beforehand. I grew up in Ocean Reefand there was always the stigma about living "west of Marmion Ave". Suburbs like Iluka have literally nothing to offer, not even a beach or local deli, but being coastal they command a huge premium.

    The beach culture is huge, so without fail you will find million dollar properties 35km north in places like Burns Beach and Mindarie. Head 7km inland to Bedford and you will pay a fraction of that. Saying that, I also think that Perth has found its limits - Rockingham and Yanchep are both so far that people are not so willing to sacrifice distance for coastal location.

    The beach scene is fully evolved (i think with the exception of Scarborough) but what is changing is that as urban infill policies take effect, the highstreets are developing and giving new life to old areas. Angove Street, Beaufort Street, the top end of Oxford, Albany Highway in Vic Park and Scarborough Beach Road through Mt Hawthorn are all great examples. These areas represent a lifestyle change - the alternative for people who aren't beach bums.

    So IMO there are two long term drivers that will spur these areas:
    1. creation of new lifestyle options that will give a more contrasting lifestyle to the suburbs
    2. continued urban infill will choke existing infrastructure, and proximity will start to command a premium
     
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  6. Perthguy

    Perthguy Well-Known Member

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    @JL1 you have to admit that $1290/sqm is not a typical price for Nedlands. What if you go closer in, like North Perth, Northbridge or West Perth? Still only 1.5x the price of residential blocks in Armadale? I don't think so.

    I agree Melbourne and Sydney are way more expensive than Perth. Sure. But creating the impression that prices are fairly uniform across Perth is just wrong in my opinion.
     
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  7. Perthguy

    Perthguy Well-Known Member

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    Not sure that comparison holds true if you are comparing equivalent type products. If you compare a newer house on a big block in Mindarie to a unit, townhouse or old house at block value, I guess. New houses on blocks are ~$1 million as well, not a fraction of a million.

    163 Shaftesbury Avenue Bedford WA 6052 163 Shaftesbury Avenue Bedford WA 6052 - House for Sale #124168738 - realestate.com.au

    What were you thinking of in Bedford for a fraction of a million?
     
  8. Kel

    Kel Member

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    Doing some very rough research I read Perths population is going to grow to about 4 million by 2040. This would be around Melbournes currently. These $350k blocks in Vic Park would be worth $700k plus 4kms from the Melbourne CBD. So based on that by 2040 they would be around that mark. But that doesn't factor in wage growth and inflation which should double by then.
    Seems a wise investment. From again a rough memory back in the early 90s places around Eltham were worth the same as a single fronted Victorian in Richmond. I guess most people only view the current situation and don't look ahead.
     
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  9. JL1

    JL1 Well-Known Member

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    I actually think it is pretty typical at the moment. Stacks of houses sell low in the area. Take out the infrastructure value on these for example:
    37 Bruce Street, Nedlands, WA 6009 - Property Details
    5 Robinson Street, Nedlands, WA 6009 - Property Details

    I didn't say prices are uniform, I said that the difference is smaller than other cities. We'll just have to agree to disagree on this i think. But as a final little tester for you, see if you can find a house on 700sqm+ within 7km of Melbourne CBD for anything close to Perth prices. Then have a look at how similar things are 20km out.

    Spot on to my Experience Kel. I moved to Melb in 2014 and my sister was looking at a fully rennovated 2 bed terrace in South Yarra for 800k. Same thing would fetch $1.2m+ now and its not even been 3 years! People have been going crazy for it.

    On the 4m people, I think Perth is going to struggle to reach that projection. a lot of the existing projections are skewed by mining population growth. The population would have to grow by 86,000 people a year to meet it, and last year was only 29k. Even still, its definitely on the upward trend and I think a more likely projection of 3mil people will still see huge changes in the city.
     
  10. Perthguy

    Perthguy Well-Known Member

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    Impossible. Melbourne and Perth markets have vastly different price points. Where have I argued Perth and Melbourne prices are similar?

    Where, in Melbourne or Perth?

    7km from Perth, Floreat? ~20KM from Perth is Midvale. I will look at some houses. Guarantee the price difference is more than 1.5x

    $1.1 million for Floreat 29 Arbordale Street Floreat WA 6014 http://www.realestate.com.au/sold/property-house-wa-floreat-124070286

    $390k for Midvale. Similar sized lots. 72 Victoria Parade Midvale WA 6056 http://www.realestate.com.au/sold/property-house-wa-midvale-122539290

    It really depends on which direction you go. If you stick to the coast, prices are expensive, so lower price differential. However, go inland and prices drop dramatically, so the differential is much larger.
     
  11. JL1

    JL1 Well-Known Member

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    You are totally missing the point of my statement. Its not that Perth has no differential, its that the differential is smaller than other cities. That leads to a potential market opportunity. That is it.
     
  12. Perthguy

    Perthguy Well-Known Member

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    I understand your point but I don't know if what you are saying is correct.

    I really think it depends in which direction you go. If you go from Floreat to Midvale the differential is a lot higher than 1.5x. But if you head up the coast, 20km from Floreat there may be only a small differential. The same in Melbourne. Pick an inner city suburb and note the price per square metre for the property. Then head north 20km and compare. Big differential. Now head east 20km and do the same thing. The differential will be smaller. Now head west 20km. Different differential again. Which is smallest and which is the largest differential? More importantly, are those differentials much different to Perth if you do the same thing? No. Head up the coast and down the coast in Perth and the price differential is not huge. However, head north east, east or south east and you notice a large price differential. I wouldn't be surprised if those price differentials were more similar to parts of Melbourne depending on which direction you travel.
     
  13. Ald

    Ald Well-Known Member

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    Perth is not about distance it's about suburb and social status and distance from beach. Generally stick north of the river and west of the freeway. That's what I will cover.

    In short it's beer guzzling bogans vs professional families that have some aspiration.

    There is also a couple of arty farty suburbs good investments like mt Lawley, highgate.

    Then there is the difference between the rich, spoilt, rotten greedy snobs suburbs with a high opinion of themselves due to only their wealth vs the normal family that are raising their children with values and to represent something endearing.

    The Bogan suburbs are plenty.

    Basically west of CBD north of the river but south of Wembley Downs you have the snobs. Wembley Downs has traditionally been know as the suburb where all the doctors live but that's changed. The normal professional family suburbs are Wembley downs, parts of Karrinyup , Carine and parts of Duncraig,

    Bang for your buck suburbs for the next 10 years are Karrinyup South north of the park including Gamble Way and everything north until Jeanes Road. Carine is also good and Trigg. These are the upcoming suburbs that will be the much desired suburbs in Perth. They will grow in price until they are the same price as Floreat.
     
  14. JohnPropChat

    JohnPropChat Well-Known Member

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    ^^^ Translation: Karinnyup South
     
  15. zac101

    zac101 Well-Known Member

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    LMAO.

    Seriously what is with one poster's obsession with Gamble way, Karrinyup South?
     
  16. JohnPropChat

    JohnPropChat Well-Known Member

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    Vested Interest ofcourse and thinking that there is no such thing as bad publicity. PC crowd is a lot smarter than to not see through spruikers.
     
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  17. Big Daddy

    Big Daddy Well-Known Member

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  18. DhuCat

    DhuCat Member

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  19. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Rofl.
    I bet he's already bought it at that bargain price of $2000 per sqm
     
  20. Ald

    Ald Well-Known Member

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    Somebody just bought themselves a big fat golden goose.