I’m evaluating a property in Safety Bay in Western Australia. Its a 3×1 house built in 1968 on 809sqm of land (no rezoning) and is 500m from the beach. For those familiar with the area, its on Malibu Road. I’m doing it through a private sale and am wondering if anyone can tell me whether $210,000 is too much to pay.
Cheers! [buz2]
Hi Teeks – here are some sales evidences for you. unfortunately ni recorded numbers for the ones on malibu itself:
43 MALIBU RD SAFETY BAY ROCKIN 0 01/06/04 809 M*
3 SEAGATE ST SAFETY BAY ROCKIN 235,000 23/02/04 842 M*
14 OWEN RD SAFETY BAY ROCKINGH 316,500 19/03/04 810 M
25 BISCAYNE ST SAFETY BAY ROCK 188,000 13/02/04 809 M
33 TIDEFALL ST SAFETY BAY ROCK 254,000 09/06/04 809 M*
6 CRUISE RD SAFETY BAY ROCKING 224,000 20/06/04 809 M
SAFETY BAY ROCKIN 0 04/03/04 736 M*
27 BISCAYNE ST SAFETY BAY ROCK 204,000 12/01/04 809 M
13 BERMUDA RD SAFETY BAY ROCKI 200,000 14/03/04 809 M*
15 BERMUDA RD SAFETY BAY ROCKI 179,000 05/03/04 809 M
40 DONALD DRV SAFETY BAY ROCKI 0 30/04/04 712 M*
21 OWEN RD SAFETY BAY ROCKINGH 0 10/02/04 700 M*
21 BERMUDA RD SAFETY BAY ROCKI 197,000 19/02/04 809 M*
14 LEISURE WY SAFETY BAY ROCKI 222,000 14/04/04 797 M*
14 FAWDON ST SAFETY BAY ROCKIN 230,500 26/01/04 809 M*
51 MALIBU RD SAFETY BAY ROCKIN 0 09/02/04 809 M*
SAFETY BAY ROCKI 0 25/06/04 700 M*
128 MALIBU RD SAFETY BAY ROCKI 188,000 22/04/04 767 M
6 TEMPEST PL WAIKIKI ROCKINGHA 150,000 10/06/04 701 M*
5 TIDEFALL ST SAFETY BAY ROCKI 0 10/04/04 810 M*
29 CHARTHOUSE RD SAFETY BAY RO 207,000 04/02/04 797 M
2 BAYSHORE PL SAFETY BAY ROCKI 215,000 11/05/04 801 M
12 WARNBRO BEACH RD SAFETY BAY 0 23/01/04 740 M*
83 DONALD DRV SAFETY BAY ROCKI 264,000 21/05/04 822 M
20 CORAL RD SAFETY BAY ROCKING 233,500 27/03/04 809 M
34 WAVELEA ST SAFETY BAY ROCKI 208,000 03/02/04 810 M
6 NEPTUNE PL WAIKIKI ROCKINGHA 0 14/04/04 849 M
22 SEAHAVEN ST SAFETY BAY ROCK 233,000 29/04/04 809 M*
56 CHARTHOUSE RD SAFETY BAY RO 211,000 26/03/04 809 M
65 GEORGETOWN DRV SAFETY BAY R 0 16/02/04 842 M
4 VIKING RD WAIKIKI ROCKINGHAM 272,000 24/03/04 701 M
5 ELSWICK ST SAFETY BAY ROCKIN 0 15/07/04 809 M
13 DOLPHIN RD SAFETY BAY ROCKI 234,000 22/03/04 809 M*
1 SPYGLASS CT SAFETY BAY ROCKI 208,000 16/04/04 711 M
47 DONALD DRV SAFETY BAY ROCKI 264,000 01/07/04 700 M
65 DONALD DRV SAFETY BAY ROCKI 335,000 11/05/04 723 M
26 TIDEFALL ST SAFETY BAY ROCK 247,500 25/02/04 809 M
37 BISCAYNE ST SAFETY BAY ROCK 185,000 17/02/04 832 M
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
All those street names bring back childhood memories – my grandparents lived in this area so I knew it well! Safety Bay is the official name of the suburb, but part is known as Waikiki (and possibly Malibu also for the area near Malibu shops).
Most houses were built in the 70s and 80s, and I remember walking through many half-built houses in the area around the mid-80s. For post-85 houses you’d need to look at areas further inland or outwards (eg Pt Kennedy).
Malibu Rd is good in that it has shops at both ends. A small centre near the beach and a larger one (that we called ‘Malibu’) that included a supermarket near Read St.
Thus for a rental property it’s conveniently located. The buses aren’t as good as Rockingham (where Route 920 provides an excellent service) but there are two proposed railway stations within 4km.
Malibu Rd is fairly busy, so the value of a house would be less than on a side street. Also it might be slower to resell should you need to. I recall quite a large dip in the road (near the special school) and a pedestrian underpass that was frequently vandalised.
Regards, Peter
Nothing wrong with your memory Peter [biggrin]
I remember buying a block in WAIKIKI in 94..
last time i visited rockingham it was ‘growing fast’..
PS- whats with all the sale of properties in Mandurah in the papers?Are people just realising thier gains or possibly upgrading thier PPOR?
Anyone?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorQuote:Originally posted by redwing:>I remember buying a block in WAIKIKI in 94..
My mum’s only foray into property investment was buying a block a few streets back from Warnbro beach in 1979 for $9000. Was forced to sell in 1984 for $7000
Imagine its value now!But the proceeds were used to buy a PPOR down south so with two booms in the interim, it turned out good in the end
Regards, Peter
Redwing – the problem with Mandurah properties is that the area has grown so dam quick that it really covers a huge geographical area that is all lumped in as ‘Mandurah’. When you look at where these properties are, very few are actualliy in Central Mandurah, most are Meadow Springs, Port Bouvard, Singleton, Madora etc. Now that Mandurah is basically a Perth suburb I would like to see the agents split out their listings…or the paper could at least provide sub headings. Its a bit like Subiaco – every wannabe suburb around it gets lumped in there and it takes forever to actually find the Subiaco properties.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Thanks every one for your responses. I’ll certainly take them into consideration! [grad]
Imagine its value now!
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