Can anybody guarentee that in writing?[eh] They won’t because they can’t.[thumbsdownanim
All you can be certain about is today, anything in the future is literally fortune telling. Ok if it comes off, and it has lately and more than likely will, but I would rather be creaming it each and every month now than having to pay out of my own pocket and pray my investment goes up in value, whatever it could be, nothing, something o backwards?[upsidedown]
I just like to eat my cake now.[oink] Anything I get on the backend is a bonus.[wink2]
Later……..
Medina near Kwinana has 3 x 1 houses for 130k. The new rail line will have a station near Medina and its between Freo and Rockingham. Any thoughts?
I’m looking in the Joondalup area. Reasons being that the Universities, Police academy, TAFE are expanding. Local education services are planning on accomodating upto 10,000 students into those facilities. Hopefully driving the rental market harder.
Local services are great, close to beach and Joondalup council (if they can get there act together), are pursuing the feasability of redeveloping the Whitfords boat harbour to maybe similar to Hillarys!
House prices (post 85 construction) are under 200K in parts of Beldon and Heathridge. Low competition on the rental market unfortunately means average rents, but definitely worth looking at.
Anyone got any views/comments on these area?
Hi bt,
Yes, I agree on Joondalup – however the price of places around joondalup have gone up alot. You will probably need to heavily negatively gear whatever you purchase in this area.
Though, yes I think this is a good area to look at.
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
http://www.homesearcher.com.au – List your property for FREE (Private sellers only)Hi Rigby,
I think Medina is good.
Also surrounding suburbs in that area, including Spearwood, Orelia.Then further south including the coastals such as Rockingham, Golden Bay all the way down to and including Mandurah.
The other areas I like are along Albany Hwy. including Maddington, Kelmscott, Gosnells.
KP
BT
I’m with you on Joondalup!! Although Joondalup North is fairly pricey, I believe you can still pick up a bargain or two in Joondalup South (still close enough to TAFE, UNI, POLICE ACADAMY ect…..) Its only a matter of time that we’ll see Joondalup South go through an upward trend I believe, as Joondalup North WILL be toooo expensive…any thoughts on this? Quinns Rocks is another of my picks and there are still bargains to be had in some of the regional centres.
suzieq[biggrin]
Hello,
In my opinion Joondalup is a definite winner.
If some of you are searching towards Quinns Rock, a new suburb known as Alkimos should be opening.
At this stage, I have only heard rumours of how it will be developed. If any of them come true, then it may be another area to keep an eye out for.
David Femia
http://www.femiapropertygroup.com.auHi All,
Not sure if this was the development David was referring to but it makes for an interesting read anyway.
http://www.theaustralian.news.com.au/common/story_page/0,5744,9955343%255E25658,00.html
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
St Andrews will be huge, has been talked about for years and now it looks like it is here. This place will make Joondalup look like an inner city suburb! my question is: do you think the exisiting houses in Yanchep would be a good buy, or do you think they will become old and daggy compared to the squeaky new suburbs that are about to engulf it? Maybe buying into the first stage release would be the way to go.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
After spending the last three weekends studying the Perth Real Estate Market and driving from Manurah to Clarkson attending Home Opens in frustration trying to find a +CF property I am convunced that the only suburb in Perth that comes close to goving a +CF return is Armadale.
A $140,000 house in Armadale generally will return a $160 p/w rent. The vacany rate in Armadale is less than 1% and the State Government is investing in Armadale by building new infrastructure such as new train station, Tonkin Hwy extension, cinemas etc, etc. Although the rental return of $160 for $140,000 is not fantastic it was the best I could find! I also believe that Armadale will grow in Capital due to the new infrastructure. What are your thoughts?
Hi Rigby,
Difficult isn’t it! Perth people dont like paying rent. Not like you hear other states proudly quote. Rent on ave can take upto 9 yrs to double which if you did your maths would make the deals look completely different. I suppose the longer you keep the property, the better the return could be.
Into the equation, CF+ areas may show limited CG. Normally high CG is seen within 10kms of Perth CBD or near the river or beaches…blah blah and cost you a fortune..!
Look at the 5-10yr CG% for these areas? Does it fit with a profile that allows you to tap into the equity generated for future investment purchases. If you purchase well – Locality to local facilities, shops, fast food stores, schools etc, in addition to the presentation, security and depreciation costs allowed to you. Ensure if you use a property manager that you dont pay them >8% (hope for 7%)and they with you select your tennants well. If the property looks like a rats nest and smells like a rats nest, its probably going to house rats.If the property you select suits your own profile and fits in with your portfolio goals, a CF+ deal with +ve CG is well worth consideration.
Look at the figures and keep it mathmatical in my limited experience, its like running your own business. Run it at a profit!Good luck
PS.Interesting Statistic I learnt this week from local real estate agent. There is over 1200 agents in WA, and only 800 in NSW. Based on that, Competition for your business should be high. It means you can have a real good professional relationship with them.
I reckon we have just about picked every area in Perth[biggrin]
Probably not too many areas you wouldn’t buy in at the moment??
Gotta put in my pennies worth. I currently live in NSW but lived in Perth thru the 80s. Unfortunately I wasn’t one of the many people who invested correctly back then! However, I certainly seem to have done so now. Two years back I bought an IP in Cooloongup (for those who dont know this is the Rockingham area). I knew the area well (in fact it was bush when I lived there). Knew it was close to shops, schools, beach and transport (new rail line going up not far away). Spoke to RE agents and family and friends a lot before purchase. Other local areas were cheaper, but didn’t have the same appeal. Eventually bought it site unseen for about $134K. Since then it has been mentioned regularly in API magazine and has grown by about 29%. It has only been vacant for about two weeks in that time.
I am thinking of buying another this year, possibly in cheaper neighbouring suburbs, or even down Bunbury way. So you can see my preferance is for the southern areas. Having said that, my brother lived in Balga in the 80s. I wouldn’t have lived there myself or bought property there. Now I wish I had! I gues the moral is you can’t really pick the suburbs that are going to perform you need to look at all the factors but deals are availabel just about anywhere!My vote is for Padbury if you want more suggestions. The areas surrounding such as Hillary’s, Sorrento, Duncraig and parts of Kingsley have seen some good increases and if you follow the rule of neighbouring suburbs, Padbury looks promising. Has close access to the Freeway and train stations and is about 10 minutes drive to Joondalup not to mention being 5 minutes drive to the beach.
Also now living in North Beach which is pocketed between Waterman Bay and Trigg. You can still find reasonable prices in North Beach and Marmion which are walking distance to the beach if are lucky.
Hi All
My opinion of Perth residential in general is that it is not a place to invest in the next couple of years. I feel there are too many investors and too few tenants and that there will be downward pressure on sale prices in the short to medium term.
Of course there will be localised exceptions and isolated hotspots but overall I am pessimistic.
Have recently had to drop rent from $260 PW to $230 PW to get a tenant in Mt Pleasant. Why? Because there are now a bunch of newer and shinier places available asking the same rent.
This leads me to the point often raised by proponents of only CF+ about capital gains not being guaranteed, well neither is cashflow.
In my hometown (Mandurah) the market has basically split in two, with waterfront and premium properties continuing to be in demand whereas the more average properties are now not selling.
I firmly believe that to buy now with a yield of between 2% and 4% and hope for short term capital growth is a rather risky proposition.
Commuting to and from work, I pass through Darwin a fair bit and think it is worthy of consideration. The LNG plant (Conoco Philips) and Blacktip gas project (Woodside) offer some upside potential and if Sunrise ever gets the nod?!Well that’s my thoughts, back to work.
SMTM
There are more ways to skin a cat.
Trying to make money out of 2-4% yields is impossible.
Think outside the square and there are plenty of ways to make money in a downward, upward, sideway and every which way property market. Not just B&H but plenty others……….
Later……….
Mandurah is looking very cheap – those waterfront properties will only serve to pull the rest of the area up. It is all very undervalued compared to further south e.g. busselton, dusnborough and we all know what a drag it is to have to drive 4 hours to a holiday home when you could permanently live in the same sort of place in Mandurah.
Resources projects – the deals on the table will be the next major boom for Perth. There is huge growth yet – the new satellite city of St Andrews has to be testimony to the fact that there is no sign of growth slowing for many decades.
If you tried to rent your property in winter I hope you only let it for 6 months. The market is always slow now. The new rush for housing that starts today should be interesting… by first home owners shifting from rentals to their own houses will push house prices up and see rents drop further, creating further dichotomy. I can only guess this will see reduced investor activity which will put a brake on it until the market finds equilibrium.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Don’t only look at the ‘for sale’ section of the papers, look at the ‘for lease’ sections..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorArmadale/Westfield is a good area for someone who is not too cashed up to enter the investing market. The new station, cinema and extensions to be done to the shopping centre will add value. The new town plan has altered zoning with many properties now suitable for sub-division. The lakes development in Westfield will bring International rowers to the area for training and they will need accomodation. If Westfield gets the wave pool/white water rafting pool (whatever) holiday accomodation is also a posibility. We have some houses within a km. (yippee) I’ll not buy in Midland due to plans for a future runway right over the top although the shopping centre is extending. Same goes for Kenwick. I have a friend there and all conversation stops as every plane flies over. Armadale is cheap and it is not all bad, rents are reasonable, vacancy almost non-existant, expansion assured, easy access to freeway and new Tonkin extention and room for possible future re-development of your property. Maybe not the best returns but I’m very happy for what we have there. Five properties and only $23.00 per month negative.
If I knew then what I know now……….you know how it goes
hi there, did you actually mean $23.00 neg for all 5 properties??? If so, thats quite amazing.
Are they houses, units??
You must be logged in to reply to this topic. If you don't have an account, you can register here.
