Forum Replies Created
Hi there,
As far as new estates go – I have just purchased a block in Singleton for $149,500 about 600 metre from beach. I think this represents excellent value. Some blocks have titles now, stage 5 titles due in September 2005, I think stage 6 will probably not have titles for 6 months.
What I really like about the area is there is very little land available compared to some estates nearby. Also, if you compare land along this southern pocket ie Madora Bay, Secret Harbour you will pay much more to be this close to beach and blocks will possibly be smaller.
Another important fact is that Singleton has been one of the top performing coastal suburbs over the last 5 years and WA valuers predicting growth will continue. (www.singletonbeach.com.au)
M[biggrin]
Hi there,
some areas close to Freo that you may want to look at, have included capital growth over 5 year period.
Apart/Units
Bicton – 11.6%
Mosman Park – 18.95
Hamilton Hill – 16.6%All the best
M[biggrin]Hi there,
you ignore one important fact – this couple increased their equity by $400,000 last year.
With Perth Market still on the rise who knows it is possible that they could make another $400,000+ in next 12 months.
Whether you agree or disagree with this strategy you can not deny the fact that they have been extremely successful over the last 7 years of investing.
Regards M
I was also interested in this couple’s latest acquisition.
Coogee property – purchased 2004 $750,000
valued 2005 – $850,000.Cant really understand why locals worried about Marina development I would be jumping for joy.
Hi Mary,
East Perth 5.9% CG 5 yearsCheers, M
Thanks CaptDemi and Regrow
I am currently building in south west with Ventura Homes and to date they seem extremely professional and am being promised 12 mth completion. Will see!
I am now back looking at Perth market again and whether it is still worth it. If builders in Perth are taking 18 months – 2 years interest repayments while building could be the difference between a loss and profit.
Will also start looking at Celebration Home plans. As I have also heard many positive comments about this builder.
Appeciate your help.Thanks..
Hi Redwing
Champion Lakes – wow!!!
Hi there
It really depends on what your price range is, and what type of property, ie units, townhouses.
If you are looking at units, townhouses I would look at areas which have always performed well, ie over a 10 year period.
(no particular order)
1. East Victoria Park
2. East Perth
3. North Perth
4. South Perth
5. Como
6. Leederville/West Leederville
7. West Perth
8. Mt Lawley
9. Inglewood
10.Highgate
11.Rivervale
12.Bayswater
13.Subiaco.
14.BelmontAs far as housing goes, close to city I look at land component where you can subdivid down the track, cant go past:
Morley
Westminster
Balga
Bayswater
Hamilton HllOnce again depends on your price range. This is probably the lower end of the market.
Regards
Hi Dazzling,
thanks for your comments, I was hoping you would reply.We have been offered factory unit next door which will service our immediate needs and considering it will cost a fortune to move all equipment etc. it may be the way to go. This will solve immediate problems until we decide what next.
I have a question for you though, if you were starting out with your first commercial property where would you begin? Are you currently looking at this market?
Reading the paper today it is disappointing that some CIPs offering 7%. What are your thoughts.
Cheers, Marisa
Yes, great story on DD and Mandurah!!!!!!!!!!!!!!!!!!
Hi Zen,
unfortunately if we sold the block now – CG tax would equate to 50% of profit. Not a great return.
Instead, we have signed for L&H package $295,000 including interest to cover 12 month period while building. This will include, carpets, blinds etc. Basically ready for the rental market.
When completed it will be worth around $370,000, profit/equity $75,000.
With depreciation schedule and rental return it will only cost $1,200 PA.
I think there is only 2 more land releases so I imagine prices will still continue to rise.
My builder advised that there are many eastern state investors building in this area at present which does not surprise me.
Just a thought, have you looked at Pt Kennedy?
Regards, M
Hi there, your comments only reinforce the fact that research is the key to making a good choice.
Once again, if formites are interested in Mandurah. I would be contacting Council, Local Gvts, analysis data/stats over 10 year period. Contact Valuers who know the area back to front.
I still see value in Mandurah and I have mentioned some of these areas that are worth looking at.
Also, there was an excellent article in API on Mandurah about 2 months ago this should answer some of your questions. [biggrin]
Hi Zen
This is one reason why decided to do a land and house package in Dalyellup Beach Estate (Bunbury).
They are screaming for rentals and rental returns are great in comparison to Perth. CG was 37% last 12 months and still moving north. Bunbury is experiencing biggest boom in 30 years.
Apparently the last land release Dalyellup on Saturday sold out in 3 hours. We paid $97,000 for block 1 month ago, it is now worth $125,000.
If you are interested contact Bob Draper, Sattery (Perth office0
Regards, M
Hi MA
I disagree with your comments.
I also believe it is lack of research that get’s new investors in trouble.
In my opinion Mandurah still represents good value compared to other coastal RE.
The focus in Mandurah is not just on the canals and beaches in and around Mandurah.
Mining is still a major contributor to the region. It is a $2.5 billion economy. Bauxite mining iron on a world scale and produces alumina valued about $2 billion.
Agriculture is the second highest earner at about $100 million a year and the region has a unique industry built around horse breeding and training, estimated to be worth about $75 million. Rock lobster fishing dominates the $16 million fishing industry around Mandurah.
Given the population explosion resi bulding industry is now worth $200 million a year.This Region is the fastest growing region in WA and I believe Australia now.
Population is expected to keep growing as developers fill in the gaps along the coast north and south of Mandurah.
Predications are that population will double by 2021.
If formites are interested in Mandurah I think most would be smart enough to research and decide for themselves whether this is fact or fiction and whether Mandurah still represents good value.
Hi Zen
Hope I did not offend.I understand you have been looking for some time now. It may be worth contacting Hegney Valuation Group regarding this issue, I have found them very helpful.
I have mentioned them on forum in past, they seem to get it right, they have many professional people who research WA property, and have a book with projections over next decade. (I think $40.00)
They recommend the south west corridor (Mandurah, Busselton, Dunsborough ) for ongoing CG..
Happy RE Hunting,
Regards, Marisa[biggrin]
Hi Zen,
Your question – “Should I purchase in Padbury or Mandurah?” I dont know what your strategy is, or your budget.I would personally buy:
Mandurah
1. Falcon – development potential (rezoning)
2. Madora Bay (old Madora Bay)- rezoning potential.
– Madora Bay endorsed as Regional Beach for Peel area.
3. Wannanup
4. Halls Head
5. Silver Sands
6. San Remo
7. Mandurah (central)all performed 14% + over the last 5 years. Highest performer 24% over 5 years (Wannanaup)
Will it continue, absolutely!!!!!
I would not consider Padbury in the same league as Mandurah.
This is obvious, with Mandurah’s current infrastructure and ongoing projects including, cafes, resturants, golf courses, $M Marina’s, estuary, etc. etc. etc.
Regards, M
Hello all, and thanks for your support and helpful comments. Had a good laugh…
Just to give you an update… unfortunately my tenant is still in my house, my property manager has given him 7 days notice and currently going through the appropriate legal process.
Today he paid 2 weeks rent and is currently 3 weeks in arrears. He is now asking if his mother can move in and would like a 1 year lease????? What the….
I will be inspecting the property this Friday and am advised that he will be there to meet with me.
I do not want to see him but still want to view my property. What do you think about this?
HI westinvest,
I agree there are many great opportunities in south west.Last land release in Dalyellup sold out within 3 hours.
Bunbury – CG 37% in last 12 months. Rental returns excellent compared to Perth.
It would be great to hear what other Perthites are doing and where they are investing.
Bunbury currently experiencing biggest property boom in last 30 years. Projects of $4Billion currently on the table.
.
Hi Solomon
The residential market did slow down with the last interest rate, however it was short lived.
There is ample evidence to show that the market is currently booming. My properties are averaging 10-16%. Will it continue… who knows? Experts are stating that it will due to the resource boom we are experiencing.
I would continue to persist in locating a property, however broaden your horizons.
You state the northern corridor is hot – it is hot everywhere, you may find more value in the southern corridor.
Also do a search on PERTH – many comments on various areas that may interest you.
Regards, M
Dazzling, I think you have a valid point.
I understand your frustration. I also believe that the focus on this forum is the Sydney, Melbourne resi market.
Seems to be very little interest in what is happening in other States and how markets differ.
[bawl]
