Hi all,
My partner and I are looking for an investment property in WA. We have been looking at inexpensive suburbs south of the river (Coolbellup, Willagee etc) but just recently have thought about somewhere such as Karratha, where rentals are very high, and one can often lease to big companies or GEHA for significantly higher rents than in the metro area.
We are trying to get some information on the capital growth in this area, but have wasted hours, with no success. Has anyone heard anything about the growth potential in Karratha? Expected returns? Any advice would be welcomed.
cheers,
Janine
Try http://www.homepriceguide.com.au it is quoting 15% the rest of the state is 8%
BC
I have some figures from a real estate agent there which indicate an overall ave growth rate of 7.7% per year since 1991. The growth over each of the last 2 years is 13% but before that the prices were up and down.
They seem to have massive peaks and troughs but overall it has trended up nicely.
I have a 3×2 new house there that I picked up for $260k that rents with GEHA on a long term lease for $420 per week. With depreciation allowances it is nicely positive.
Things to look out for are the high insurance costs (due to cylclone risk) and the higher than average maintenance costs i.e maintaining air conditioners, reticulation etc.
If you want a place with a GEHA lease go through Paul Brady at Brady First National as he does nearly all their deals/leases.
Url is http://www.karratharealestate.com.au
Cheers Brett
Thanks to you both……..finally, a starting point. cheers.
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