Hi,
We are new to the site and only starting to learn about investing in properties. Any advice/opinions about investing in WA – we live in Qld!David and Lesleigh[
]Hi There,
I am new here aswell! I just wanted to say that I have an IP in Perth and some in QLD and I currently live in Greece. Get yourself a relly good property agent where ever you buy even if you are planning on physically visiting the properties yourself. I have a really good agent that handles a lot of it which really puts your mind at ease. I have not seen one of my properties for 3 years. [
] I get 4 inspections reports a year from my managing agent. I keep incontact via email with them.Cheers
Aussies in Athens
It it is going to be, it is up to me….
Hi David,
WA has a very centralised population base with 1.5M+ living in the Perth metropolitan area (inc Mandurah). The next biggest towns (Kalgoorlie, Bunbury, Geraldton, Albany, Busselton) each have 20K+ (but no more than 35K people. You then move into the 10k to 20k towns of Collie, Esperance, Broome and Karratha. Thereafter you are starting to get on the smallish side and potential growth (in the main is somewhat limited)
A number of ‘experts’ are still predicting sustained growth in Perth prices as there are a number of major investment projects planned in the next 10 years. Combine this with projected increases in population growth and you have recipe for success. The median price for Perth recently rose to $236K.
As ‘Aussies’ indicated if you are to invest from afar you will need to ensure you do your research and find a good property manager to look after your property.
Current vacancies in the wider metropolitan area run at 4.3% with some suburbs down to 0.8%.
Hope this helps.
Derek
Derek,
I read somewhere Perths median vacany rate down to 3.0% to 3.5% or so.. ( scratching his head, now ‘where’ was that article ) maybe in The West Australian : )
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hi Redwing,
My figures were about a ‘quarter’ out and I noticed The West (7/2/04) indicated vacancy rate had dropped from 4.5% in September to 3.8% in December.
Highest vacancy rate in the metro area (Dec 03 quarter) was 5.1% Perth Central down to 1.4% in Armadale.
Derek
I’d always heard Armadale and Gosnells good from a rental/investment perspective..
The 2 brothers in API magazine think so too i noticed..
Me, i prefer the coastal or river areas, not to far inland, but maybe i’m limiting myself and thinking ’emotionally’ as “would i live there” hmmmmmmmmmmmmm [
]REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Hi Guys,
Just wanted to say thank you all very much for your replies and knowledge. We really appreciate it. We might sound really naive and “green” with some of the questions we are asking but if we don’t ask we will never know! Thanks again.David and Lesleigh[
]Hi,
We have been investing in Perth properties and achieved great capital growth along coast and also properties which can be developed, ie triplex, duplex potential.Unfortunately they are negative geared.
From our experience we have found that you can achieve positively geared in WA however commerical.Armadale, Kelmscott, Orielia, Coolingup, Parmelia you will give better rental returns than the norm, but I doubt you will get a positively geared property here, if that is what you are after.
Great capital growth and what I still consider cheap coastal real estate would be Singleton, Golden Bay, Madora Bay and parts of Rockingham.
Cheers,
Marisa[:o)]
Hi all,
Have just received a Perth property comment. Anyone want a copy then drop me an email and I’ll happily forward you a copy.
Derek
]
] I get 4 inspections reports a year from my managing agent. I keep incontact via email with them.
]
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