Hi Mei-Lin
Stage 3, I also have title.Good luck
Pacman
not only have values in Westminster gone through the roof but also rent. Last year my property was rented at $185 per week now $220.You would be looking at more like $230,000+ in Westminster for 728 sqmtre block (triplex) 3×1 small home. Not sure what median price of area, I think last time I checked it was around $230,000.
regards, M
This thread is going on forever and ever……one of the most popular.
must reflect Perth’s status atm.Anyone feel like a bubble is forming ??
kp
Hi,
We have two properties in Westminster.
One is a triplex block – 850sqm – just valued at $290,000.
The other is a quad block 1028sqm which we have just sold for $330,000.
We are looking at investing the money from that sale into land between Perth and Mandurah.
Marisa suggested Singleton Heights. We are also looking at “The Village at Wellard.”
Anyone else have any suggestions? or views on the above 2 estates.
Thanks, Mei-Lin
Marisa my concerns with Singleton were that the supposed train station is only a proposed one which will quite possibly never happen – any thoughts on that? I note that at Lakelands the developer paid to have the ear marked train included in the first round of train stations. when weighing up the Anchorage at $130k against Singleton for similar money I felt the Anchorage presented better value. now that the Anchorgae is set to be selling at $200k in the next release the prices at singleton are looking better. I dont know why Singleton has been so slow sellign and I wonder if it is just lack of marketing? Rivergums is looking very cheap at the moment. Baldivis central is completely sold out but there will be a new release soon. Getting titled land anywhere is pretty difficult. When I drive people to Mandurah they are surprised at all the development. They aint seen nothing yet….. some of the deals that have gone through and are being drawn up for the next few years are amazing. this place here for example was a rocky wasteland only a couple of years ago – still pretty much is http://www.lakelands-estate.com.au/stages/default.asp?sID=3&sc=g
now to own land beach side of Fremantle Rd will be the long term growth play
http://www.megainvestments.com.auJohn Carroll
ps I think Wellard is an excellent estate, a village style development around a train station has to be a winner
http://www.megainvestments.com.auJohn Carroll
I thought Wellard was a tough Scotsman?
Hi Ausprop Land in WA seems to have *boomed* in over the lsat 2 years (through most of the state- have you seen prices up North? Lots of builders buying up the land in high growth areas and building spec homes)..*sigh*..I remember in the good old days when you could get a house built in 3 months..
I heard rumbles about development in Henderson (I’d say would be $ though)?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi John
As long as train is going south that’s fine, it can only improve all surrounding suburbs.
The plan for station specifically at LakeLands may or may not happen. At this stage they are saying if it happens will be somewhere between 5-25 years. Who knows!!! I certainly wouldn’t be losing sleep over it…
I did look at Lakelands, though I prefer beachside estates, especially if its going cheap. Also was put off Lakelands as too much land, which may impact future values. Just my thoughts on it.
Land sales in Singleton have been slow I believe due to marketing but cant be sure. Apparently they sold 2 beachfront blocks in Singleton last week for around $395,000 each, what a steal.
The great news is that real estate agents have a problem getting their hands on stock in Singleton and I guess most areas these days.
cheers, M[biggrin]
Sounds like great news for Perth all around and our focus will be there for while to come.
Roy H.
L.R.E.A., Dip FS (FP)
Guardian Property Specialists (GPS)
http://www.gpsnetwork.com.auThanks for your free property report GPS very very professional and well put together, I will get you to do some for me in Queensland.
GPS i don’t know why your add way pulled, people are advertising their business here all the time, go figure just look at metropol!!
resiwealth
John,
Thanks for your thoughts on Wellard.
The only concern I have is that – the website only advertises 12 stages but when I called he said its a 10 year plan and up to 30 stages – so like Marisa said about Lakelands – too much land??? and may affect resale later on?
Mei
yes it is a consideration. you need to consider what is unique about the property, is it worth paying for in terms of cap growth and what is the rent % like. I have always invested inner city and close to transport. Buying in the ealrier stages will mean you are closer to the train station and should be rewarded accordingly. Singleton is very good as it has the beach, but the rents would need investigating. Alternatively you could save yourself the headaches and buy an established place in huntingdale – not as trendy as the southern coastal strip but at around $230k they are well below the median price (and replacement price I would expect) and IMO is a potential mover. the ripple of growth has spread from Perth outwards and – with added impetus fromn the fuel price – is likely to flow back to inner city areas. I would look at picking up an apartment at $130k in Victoria Park… you can walk to the city! Curtin Uni is loking to bring in an extra 30000 or so students into the area so it will be safe to say you will never be short of a tenant. Vic Park is tipped as undervalued and with the cafe strip now evolving it does seem very cheap. St James villas also appear under valued IMO at $250k – around replacement cost, and also adjacent to the uni, if not closer than vic park in fact. with prices on the rise so fast it is hard to pick the quality – doesnt make it any less important though
http://www.megainvestments.com.auJohn Carroll
Agree, Victoria Park is not a bad spot there..
Roy H.
L.R.E.A., Dip FS (FP)
Guardian Property Specialists (GPS)
http://www.gpsnetwork.com.auRental income is important factor, however I have not found any area as yet in Perth that is providing a great yield. I am all ears though!!!!
I agree, Inner CIty locations have been overlooked & I am sure there will be some bargains out there.
I am hoping there is still another 2 years of growth in the Perth market possible 10% pa.
What do you all think, will good times continue?
Hi Marisa,
i believe so… just got this in my inbox…
http://www.domain.com.au/Public/Article.aspx?index=PropertyNews&id=1123353351623
rgds
wayne
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREEOriginally posted by AUSPROP:Curtin Uni is loking to bring in an extra 30000 or so students into the area so it will be safe to say you will never be short of a tenant. Vic Park is tipped as undervalued and with the cafe strip now evolving it does seem very cheap. St James villas also appear under valued IMO at $250k – around replacement cost, and also adjacent to the uni, if not closer than vic park in fact. with prices on the rise so fast it is hard to pick the quality – doesnt make it any less important though
http://www.megainvestments.com.auJohn Carroll
I think the Bentley area and surrounds has been very undervalued over recent years. Check the figures over the past years and you’ll see that Bentley has been lagging for a few years and adjacent suburbs leaping ahead. Add 30,000 students (lots from overseas) and where do they need to live?[blink] I’m a firm believer that properties have five year cycles, two growth, two neutral and one decline, not nessesarily in that order.
The rental yields are also prety good and can be up to 9%. It just costs a bit more to get something at this yield level.
Later………..
The yields
All things are possible to the person who believes they are possible.
Whateve the mind of man can conceive and believe, the mind can achieve.
Napoleon HillI just thought I would add my recent experience on how to make money in the Perth property market.
There is a 3 year old suburb called Butler (aka Brighton) situated near the beach about 36km north of Perth. The median price at present is about $285,000 (13% rise last year) . There is currently no infrastructure in the suburb to speak of. A shopping centre has just commenced being built which includes a Coles supermarket, family tavern, health centre etc. A direct road to the beach (about 800 metres) is currently being built (currently about a 2km drive to Quinns Rocks beach), the train is due to come through to Butler in 2008.Add to this the developer Satterleys have already put in superb lakes and parklands that are being developed further in the next year. Also there are very strict covenants on properties and the developer provides fencing, landscaping, reticulation, and cable connection to all houses.
There is a premium being paid for completed new homes in the area as people are not prepared to wait the 12 months to have there home completed. I have purchased a cottage block (360 square metres) for $100,000.00 and are getting built a 4×2 completely finished for $100,000.00. Add on stamp duty and interest I will pay while it is being built and the total cost will be about $215,000.00. The value of the house if it was finished now would bes about $270,000.00 so there is an instant $55,000.00 profit and you can conservatively add at least another $20,000.00 to this when the property is finished in 10 months time. So this will be about $75,000.00 profit in one year.
The icing on the cake though is as the loan is for the building of an investment property I am able to claim the interest I am paying as a tax deduction from the day I purchased the land. In fact I have a PAYG variation in place so the tax office are already helping me to pay for my investment property even though it hasn’t been built yet!!. The anticipated rent would be about $250.00 a week and while this is not cash flow positive I feel the initial capital gain more than makes up for this and the fact it is a new home I will be able to maximise my depreciation claims.I anticipate the property will cost me about $20.00 a week and should not take long to be cashflow positive.
ned kelly
Hi Ned,
Interesting information!!!
What’s the name of the estate you bought into?
I have sent you a PM(personal message) asking more questions:) Would appreciate if you could email me.
Thanks, Mei-Lin
The Estate is Brighton Estate, Butler. The builders of my investment property are Homestart who are part of the BGC Group. The house is about 150 square metres of living and includes window treatments, carpets, security system, solar hot water, double remote sectional garage, stainless steel appliances, paving. Basically the only thing I need to do is paint the interior walls.
ned kelly
Hi Ned,
Thanks for that. Is there a website of the estate or a phone number to the sales office?
Is your block titled? How many stages in the estate?
Thanks, Mei-Lin
Mei-Lin,
Website is http://www.satterley.com.au/Brighton/Brighton-Homepage.htm
The block I purchased was titled, in the Seahaven Premium area of the Estate. The whole Estate will not be finished until by about 2012 so there are a lot of stages to go. However land of the west side of Connolly/Exmouth drive (Seahaven Release) is at a premium which is why I bought in this area of the Estate. There are only a few blocks left in this area (you can see them on the above website) and there will be no further releases on this side for about 2 years as they are deciding on the plans and location for the 2nd Butler train station and larger 2nd district shopping centre.
If I had the funds I would be doing more than one property but patience is a virtue!!!.
I would also say similar opportunities are available down Rockingham where you have been looking. Good luck.ned kelly
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