As I said in the other thread I am looking at buying my first home. Does anyone have any suggestions with regards to the suburbs I should be looking at buying in (preferably around perth)? I am looking for high growth areas in the $260000 price range.
Welcome to the forum TJ,
Does anyone have any suggestions with regards to the suburbs I should be looking at buying in (preferably around perth)? I am looking for high growth areas in the $260000 price range.If you check out other older posts, you’ll find that most newbies ask the same question, like me! In short, its up to you. There are some posts that mention and to some extent discuss different burbs, but it is really up to you. I know that doesn’t really help you (this reply always frustrated the heck out of me), but it depends on what you want to achieve, what you wish to do (buy-hold, flip, renos, etc) and that is where you need to start.
There are books on offer (also discussed ad nauseum on different posts) that will help you to formulate investigation questions and research criteria which you would use to pin-point the IPs of your specific choic! Try: http://www.reiwa.com.au for starters and get a feel for Perth and its areas. You’ll discover average (mean) prices and a description of a typical House for each different suburb and more. Look for the web pages of the REAs in the areas of your choice and see what they have to offer and just keep going.
Choice of good suburbs are like opinions, …….[cigar]You have a good price range for Perth, do a search and see what you come up with. Also check out the local Shire/Town Council web page for future events that might increase or decrease the value of any IPs you might be investigating.
Best of luck! Once you find something, you can bring it (with out address details) to the forum to get others input and advice.
Hope to hear from you soon.Cheers
C@34
Ok, that’s a good place to start. Thanks.
Hi Tjal,
You haven’t indicated whether or not this property is for investment or living in purposes – this is a critical piece of information as the criteria to select suburbs and property are likely to be different.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Initially I will be living there for ~1 year (mainly to be eligable for the home buyers grant). After that the plan is to rent it out.
tjal, here- I’ll name some names for you :o)
These are considered some of the “blue ribbon” suburbs of perth- depends on what you’re looking for, but if it’s location, location…
Claremont, Cottlesloe, Crawley, Nedlands, Dalkeith, Swanbourne, Peppermint Grove, Mosman Park, Mount Claremont, Hawthorne.
Here’s a good article on some prices and locations in perth:
http://www.domain.com.au/public/htmldisplay.aspx?ID=HA5FACT_8&mode=tvfacts
kay henry
HI Kay,
Blue Ribbons is right! Most are hellish in their price range and not generally considered t obe for beginner investors!It’s all for the groovie rich people (where I’ll be someday – groovie rich that is).
Cheers
C@34
Hey calvin,
tjal was looking for names of suburbs and noone had given him any, so I thought I would name a few places.
Blue ribbon suburbs have neighbouring suburbs, so people can just look at suburbs, and then keep going out a little further until they have properties in their price range. tjal is looking for growth suburbs, or I could have said bunbury and collie.
The article I posted has heaps of names and prices to check out.
kay henry
That is fair Kay,
The link to our REI site is very good in this instance because it gives you a map of the median prices and the relative suburbs.
Cheers
C@34
You’re absolutely right, calvin :o) Ya know, the difference between Institure sites is amazing. The REIQ is hopeless- with only 1 new media release per month, and nothing on prices. REINSW is not much better. Thanks for the alert to that site- I’m looking at it now (WA is a beautiful place- I’d be stoked to buy there).
I like WA- they seem to do things right
kay henry
Wehhelll
wot can I say?
Smart …..gooood looking…….intelligent….. AND do the right thing!On ya Sandgropers, giver yerselfs a pat on the back!
Just quietly Kay, I know what you mean about the other REI sites. I was most disapointed to find them, well, not up to what I’m used to. Before our recent purchase, mys wife and I had plans to buy in QLD for her parents (they couldn’t buy and so would have preferred to pay off our investment rather than some-one elses.
too bad things didn’t work out. Thank you for the compliment and forgive my instant gloating!Cheers
C@34
calvin,
It’s interesting… a house in Margaret River, a lovely place… is median priced at $240k… but the median rent is $166 weekly. God- that’s only around $3% yield- hardly worth it. I mean, I know MR is an up and coming area… but 3% yield? Some country areas have such shoddy yields- I have a similar place- rents are rock bottom – but properties are cheap too- so yield has a better percentage.
Hard to justify negative gearing at that level on newly bought properties, I think.
kay henry
You must be logged in to reply to this topic. If you don't have an account, you can register here.
