WA Perth Market 2024

PM me and I’ll send you the stats source.

But you’re right, I wasn’t clear enough above that of course you can’t just pick any suburb in any city and except the same growth in the short term (if only!). It’s far more nuanced than that. All kinds of growth factors influence short term growth, one suburb or area, over another.

 

Also it’s a point in time thing. Not all suburbs would have the same growth at a particular point in time, but should have similar over the long term. E g Armadale outperformed in 2023 while Cottesloe outperformed 2021, so depending on when u checked, their long term growth rates would be different. But say if u did in 10 yrs increments across time, the difference decreases/disappears.

 

I think last 10 yr is not good comparison, because in the current cycle cottesloe grew a lot, and girawheen will catch up soon. So we almost need to compare them at the end of boom.

 

if this is correct then you are far better off buying lower priced higher yield suburbs? tenant quality aside

 

I am not sure whether there will be much future gain due to land area is only 285sqM and 2 beds

 

Maybe Balcatta will be surprise stand out performer!
'Poised for growth': Why property prices are set to rise in these popular suburbs - realestate.com.au

Urban return: From Balcatta to Wellard, the Perth suburbs primed for price growth

 

I wonder why tuart hill is considerably cheaper than balcatta and yorkine? considering they are all neighbouring and tuart hill being closer to the city tha balcatta

Or does houses also include older villas? which I believe tuart hill have a lot more off (2x1s in larger complexes)

 

People living there make a big difference. I've lived in both suburbs

 

A lot more properties that have been subdivided into units in Tuart Hill than Balcatta. Yokine has quite a wide range of properties - from units to large houses.

 

No surprises that padbury and kallaroo have made it to the list but surprised craigie isn't on the list.

 

media pumping bags:

Five of the ten suburbs included Balcatta, Belmont, Bentley, Gosnells, and Midland.

Five best Perth suburbs to invest in 2024 revealed

positive yield means CG (eventually), media is pumping these high yielders, soon to be high CG suburbs ? apparently theyve been saying that about Bentley since the 80's , maybe this time its different?

I see one one 2 bed in Kewdale / Belmont (unit on the ground)/villa (uncommon roof !), might go for mid 400's, under offer now, don't let the 5 external cameras put you off. in Sydonay it'd be worth 8!

https://www.realestate.com.au/property-house-wa-kewdale-144466136

 

I sold a 3x1 villa in a complex of 8 in Yokine in about 2015. Agent who was a big seller at the time in Yokine, Tuart Hill and Balcatta listed it as a house. When I questioned it he said that’s how they list them. I didn’t agree that people looking for villas would search for houses but I think I gave in.

I was a bit surprised to not see Craigie also but probably for the same reasons - lots of villas and duplex halves probably getting mixed in with houses and skewing.

 

There won’t be a free-standing house on decent block left in Tuart Hill in ten years.

The first wave of infill resulted in lots of complexes of 7 to ten 2/3 bed units built on 1000sqm blocks.

That type of development seemed to abated in the mid-90s. Some good units but the second and third bedrooms tend a bit small without sufficient storage.

Then you see developments of three or four larger townhouses on similar blocks. In the last 15 years, its been three to a block 3x2 villas with double garages.

Personally, I don’t like the way these new villas have so little outside space compared to older product and does everyone need a double garage? Takes up a lot of space.

What also interests me is why building more, smaller units on these blocks ceased considering there is a massive market for smaller units from one and two person households. Another mystery is why other inner ring suburbs didn’t follow the same pattern of infill that Tuart Hill and Joondanna did during the last 30 years. Anyone know?

 

Generally the change in product is from changes over the years to do with design codes and dictated block sizes. If the zoning was R40 and that gave you 180/220sqm land sizes then you filled it up with the biggest product you could.

Some of this is changing with the new rcodes (residential design codes) which came into effect on 10th April. Courtyards now need to be bigger so this may require a 'compromise' by losing a parking spot, losing a bedroom etc. The prescribed minimum parking has also changed a bit and people won't HAVE to provide 2 parking bays anymore for some dwelling sizes.

I too liked the older style and feel there is plenty of demographic that don't need 3 bedrooms. I have a pet project at the moment which is 2 x 183sqm blocks that would normally have a double storey 3 x 2 x 2 placed on them and we are flipping the normal on it's head and building single storey 2 x 2 x 1 on them with nice 35sqm courtyards.

 

Great, not.

How to wreck the feel of a suburb. Every house has two cars even those with double garages don't use them. People park across foot paths ( not enough set back) and fill the streets.
Visit parts of Maylands lots of verges prohibit parking on verges.

 

There's still plenty of dwelling types/sizes that do need to but previously a 2 bedroom dwelling had to give 2 car parking spaces and now only needs a minimum of 1.

 

Collier homes the latest to go under. Supply issues being fixed is just getting further away at this point, which is good news for investors but not great news for the people of Perth who need somewhere to live.

I've heard whispers of another decent sized builder treading water, so will be interesting.

 

Wow. That's a big builder! Apparently they were on a brink and got bought out in 2017. Hate to be the businessman who bought them out at that time.

 

Wow! Not good. I have noticed a lot of trades moving here or applying to move here are talking about going FIFO.

 

we need a recession*

*yep, careful what you wish for