Has anyone done any buy and sells in the Mandurah area?Have bought a couple of blocks in Halls Head and am wanting to find out peoples experiences
Gday lino
I am a Mandurah resident myself. Have bought but not sold any property in town for many years.
When you refer to experiences are you meaning with agents or the general market itself?
If you purchased the blocks 12 months or more ago then I am pretty sure you will be sitting on a reasonable capital gain. Selling them will of course incure CGT as well as agents’ fees (if you use one).
Demand still seems to be strong enough although speaking to tiling retailers and others it has definitely slowed a little.
Maybe you could trade them in for a Marina lot on Feb 28th[
]Regards
SMTM
You will have trouble finding anything +cashflow in Mandurah now, without putting in a sizable deposit. It is worth considering tho if you have spare cash up your sleeve as the capital gain over the next 5 years should continue until the railway line goes in and the Freeway is completed.
I recently sold my PPOR – so no CGT. We are going to invest it all back in Mandurah and surrounding regions on 5 or 6 properties but are going to put $60K deposit down on them to make them cashflow positive from day 1.
Some areas of Halls Head are lovely and you will easily make money off your blocks, particularly if you have either sea or estuary views.
Fibejebe
Probally a good move Mandurah was ‘the’ fastest growing town in WA in 2003 population wise..( Broome 2nd) if you can achieve + cash flows and the prospect of growth then great..
Love the area myself, lot of retirees and a lot of well kept properties.. imagine those people that bought holiday homes there 10-15+ years ago : )
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Hi there Lino,
Our first IP was purchased in Mandurah (in Coodanup, down near where the estury and the river meet) and just had it revalued and it’s gone up 30% in 20 months, so we’re happy even though it’s -ve geared (we bought before we read the book and cottoned onto the ideas, but it’s done us well anyway).
Our only gripe is trying to get tradesmen when you need them, their either “tired or retired”!
Regards
PKFortune Favours the Bold.
One of our reasons for continuing to invest locally is that my hubby wants to quit work and one of our options is certainly for him to manage our properties himself. If we purchase interstate, this is not an option.
Fibejebe
[][:X]Have you considered Rockingham, cheaper to get in the market and still close enough for you to manage yourself. Probaly not quite +ve geared but closer to +ve geared than what Mandurah would now be.
Fortune Favours the Bold.
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