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you would think it would be a good situation to be in but when you are on the other side of the fence you soon see that it really isn’t. We have clients ready to go for house and land packages that we just can’t help as where can you now find affordable land that has any hope of a title being issued anytime soon? builders certainly won’t hold their construction price for you whilst you wait 6 months for a title to issue.
and to think we were getting decent blocks in Meadow Springs for around $100k only 8 or so months ago!
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I see Roy Weston group are forecasting next years median price to move up to $350k. makes sense given the lag effect from risiing building prices and ongoing strength in the local economy.
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Craig Turnbull’s group is called Aspire. be careful though as neither investors club nor aspire are clubs – they are marketing companies.
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I was back up there yesterday – gees its great up there. I don’t plan on living there but it is half tempting. The lagoon looked absolutely beautiful.
apparantly the flies have been disturbed by the earthworks and its not normally like that. I’ll buy that argument as I cant recall a fly problem at friends houses in old Yanchep.
what did surprise me when walking across the proposed blocks was the ocean views. when standing on my own block there was a pretty decent slice of blue ocean visible. no doubt houses closer will nab that, but you never know.
spoke to the sales agent about the dune lots – said that he has a book full of people willing to buy them so he may auction them as he isn’t entirely sure what to price them at. if they go for sale he said he was thinking $350k which still sounds cheap to me.
i took a couple of photos whislt up there if anyone wants a copy.
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in the scenario you paint there would be no point sinking a ground bore – the combination of increased demand and the raising sea level would see you watering your garden with salt water.
I think the the canal/pipeline or whatever is inevitable and just a matter of when. if we want to populate this country to a sustainable level we will need to irrigiate the whole of WA. if we dont do it at Aussies, there are plenty of other countries that would quite willingly rise to the challenge.
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re the fly problem – my other thought was that maybe the earthworks was disturbing the vegetation that they breed in.
I have heard of this rumoured Melros. I must check it out
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the word coming out from our builder is… price rises imminent (again!). land is almost unobtainable. stocks are at all time lows. no trades or materials to complete jobs. so, replacement value of Perth housing is set to continue rising strongly IMO.
my tips would be – buy something that’s a long way off the plan… let the developer bear the burdon of developing it and pick up the capital gain along the way. else look at cheap second hand stock – you can buy complete homes in areas like Huntingdale for around $200k, it would cost about that just to build a home now.
inner city is now starting to benefit from the reverse ripple so places like Vic Park and Highgate are set to benefit.
agents will be pretty unhelpful at present so you will need to approach them one by one, let them know you are serious and strike a rapport with them.
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was just driving and considering this whilst doing so… I can’t think of any land anywhere in the Perth area that would be 300m from the beach and available for $150k. there was Singleton which was about 750m fron the beach but that land has long gone. anchorage was 1km from beach and is now around $180k for smaller lots but thats all gone too. can anyone pinpoint some better value for money?
SQ – I think $300k for the dune lots is great buying too. I will seriously consider this.
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intersting… a few points:
– no point in promoting to flip as it is not possible
– what has the council told you that alarms you so much?
– marmion ave extension is, i understand, all go? will be done by the time of stage 2 titles
– it is a new city BEING built… not ALREADY built
– who cares if it is a JV or whatever?
– “market cycle starts running”… at this stage of the “cycle” (or just plain old catch up) hedging into rising prices is (IMO) a smart thing to be doing
– in 10 years I cant see you buying a block 300m from the waters edge for this priceHealthy debate tho. I have heard the comment that there are a lot of flies up that part of the world. Can anyone living that direction advise if there is a fly problem? and why that would be?
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it is just something you elect, just put a file note in your tax file.. but the property can’t have been used to produce income and you can only have one PPOR at a time i.e. you cant just decide on the day you are sellign a property that it is PPOR and hence tax free. have a read thru the cap gains section of http://www.ato.gov.au – HEAPS of worked examples there.
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has any body heard anything of when the ‘dune lots’ will be released and any mention of price? they look really awesome, but if they are say $400k a lot plus a house then it is getting up there.
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“Where those blocks are positioned is directly behind one of the nicest lagoons, and coastal spots along the coast! I believe this is quite a unique opportunity…”
Hi Wayne – do you mean a different lagoon to Yanchep Lagoon? Yanchep Lagoon is awesome. On the weekend I am going to try and walk across where they are doing the earthworks to check the beach out.
when in the sales office i was encouraged by a gu who was buyign for himself as a PPOR.. said all his mates were buying in there as PPORs for the lifestyle. always a good indication
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I have just spent some time reading thru the design guidelines etc. This developer seems to be doing something really special up there. A lot of the estates such as Anchorage end up with a heap of cheap spec homes and I like the attempt by Capricorn to specify the levels of finish etc.
I would flip earlier blocks if they let you and buy the non-flippable ones! what lot number are you SQ? I am on 55.
I LOVE the sound of those dune lots – that sounds like true beach house material. they say they are yonks away from a release date tho.
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was attracted to the benefits of negative gearing in the early 90’s. Property was trendy then, perhaps not quite as trendy as it is now. If I had stuck to the philosophy of negative gearing investment I would be a lot wealthier today. I have never sold a property and looked back several years later and been been happy with the decision.
doomsdayers and gurus come and go with every bull market, rent yields are ordinary, cap gains make the difference, property prices rise on average, same old same old
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there is a multi-page article in this weekends paper about the boom in Kal. they say if you are upright and have a pulse you can get a job in Kalgoorlie. applies for anywhere from Perth to the Pilbara mind you.
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I can’t recall any industry there going back as far as my memory serves – approx 1975. I really don’t think they would allow a subdivision on contaminated land anyway. in inner city redevelopmnent areas where there is contamination 10 meters down the developers were forced to note it on the title and obviously disclose prior to the sale.
it is correct that it is the City of Rockingham. whislt mandurah is still pretty good, Rockingham is even better when it comes to approvals… they are turning approvals around in 1 to 2 weeks.
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well the equivalent block to what I was buying but in the next stage seemed to be $20k dearer. At $170k it still seems pretty cheap to me.
the stage 5 price list on the website is wel out of date
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I think it would be nice to buy a few blocks adjoining – then you could build a communal pool, have a cabana and outdoor kitchen for family get togethers, then everyone could go back to their own space.
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Yes heaps of discussion – they are a real estate/marketing company. Are you sure about the +CF tho? I thought they promoted -CF. mainly because getting someone to pay a hefty sales commission on a +CF property would be nearly impossible… they sell themselves.
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guilty as charged asdf – sorry mate. Good news for you if people are still speculating at those prices.
I didnt think the Somerly prices sounded too bad
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