would like to know if there are still any good deals out there.
Build your self some spec homes 3xz or 4×2 two in the next year in Mandurah and floge em off.
RegardsRod, you forgot the largest TAFE in Australia outside a capital city, the expansion plan for a full-blown university and the lifestyle options at Geraldton as well. Howing commission clusters are being disbursed and the area is a very popular fishing area and the main stop point to check out the dolphins further north. In fact, it services all areas to the North as it is the last major city on the West Coast heading North.
It has loads of upside available and I have yet to find substantial downside.
TRAIN as well… that leaves lifestyle for Mandurah.
PS: Mandurah is a lot colder in winter. Retirees don’t like that!
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksAn interesting thought from the Morgtgage Advisor, although my experience with the retirees is that they retire to the South West and pack their vans to head North during the winter – they are commonly known as Sunbirds and they head much further north than Geraldton.
My IP’s are all in the Southern corridor and growing at a great rate of knots. I have great reservations about Geraldton being mainly a “stop point to check out the dolphins further north”. Do you understand how far further north the dolphons are? Closer is the dolphin beach in Bunbury.
One major draw back I see for Geraldton is distance from Perth. Nice to visit but better to get home.
Cheers
But Dream, there is just dust further North. It is the last city and there are certainly no major regional areas further North. By the way, they also come back to Geraldton after seeing the Dolphins.
Distance from Perth is not a drawback in my opinion. Geraldton has almost everything Perth does minus the population – but it is growing.
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential Linksdream big, He is not West Australian he has no idea what your on about <edited>.
http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=20440
Now between Mandurah and Perth (not other cities) according to the projections by ABS?? Mandurah will have the biggest growth in WA in the next number of years. Is this mean it will be wiser to invest in Mandurah than say Padbury for 250K property? Am I missing anything here? I am looking for 8-10 years investment. ie I don’t have IP and I quess better be late than never. At the moment I am paying the highest tax bracket.
Originally posted by The Mortgage Adviser:But Dream, there is just dust further North. It is the last city and there are certainly no major regional areas further North.
There’s plenty of regional centres further north and thus plenty of places to invest.
On a trip up to Port Hedland a few years ago in the winter I was amazed at how many grey liners where parked on the banks of the de Grey river north of Port Hedland.
They spend 3-4 months just camped by the river and then head south.
They also head all over the great north west, I was amazed how many there were in the one place!
Later………
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 see an article in saturdays west re process train 5 at Karratha. work commences next month, with first shipments expected in late 2008. interestingly this project is $2bn, yet there are $45bn worth of projects on the table. will be interesting to see what they manage to get thru
http://www.megainvestments.com.auJohn Carroll
Originally posted by westinvest:dream big, He is not West Australian he has no idea what your on about <edited>.
http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=20440
Which bit do I have “no idea” about west?
By the way, why are you offering a negative property when it is all so positive over your way? Isn’t this kind of an oxymoron?
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential Linksperhaps it was just a friendly dig – that was the way I read it.
http://www.megainvestments.com.auJohn Carroll
You missed the bit that was edited and my ensuing response which was appropiately deleted. I did not read it as a ‘friendly’ dig at all.
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksHi Zen,
Your question – “Should I purchase in Padbury or Mandurah?” I dont know what your strategy is, or your budget.I would personally buy:
Mandurah
1. Falcon – development potential (rezoning)
2. Madora Bay (old Madora Bay)- rezoning potential.
– Madora Bay endorsed as Regional Beach for Peel area.
3. Wannanup
4. Halls Head
5. Silver Sands
6. San Remo
7. Mandurah (central)all performed 14% + over the last 5 years. Highest performer 24% over 5 years (Wannanaup)
Will it continue, absolutely!!!!!
I would not consider Padbury in the same league as Mandurah.
This is obvious, with Mandurah’s current infrastructure and ongoing projects including, cafes, resturants, golf courses, $M Marina’s, estuary, etc. etc. etc.
Regards, M
Thanks Marisa for your thought. I have to say it wasn’t obvious to me. I am planning to purchase an IP within a couple of months.
My budget is $250K like to to get rental at least $190/week.
Anybody else like to comment please do so, I am interested to hear from you.Hi Zen
Hope I did not offend.I understand you have been looking for some time now. It may be worth contacting Hegney Valuation Group regarding this issue, I have found them very helpful.
I have mentioned them on forum in past, they seem to get it right, they have many professional people who research WA property, and have a book with projections over next decade. (I think $40.00)
They recommend the south west corridor (Mandurah, Busselton, Dunsborough ) for ongoing CG..
Happy RE Hunting,
Regards, Marisa[biggrin]
Marisa, what is common in areas where property prices increase substantially over a number of years???
1. The prices become over-inflated.
2. The locals make a fortune and go buy somewhere else.
3. An over-supply of property occurs with over-development for inadequate real population growth and minimal new job creation.
4. Development starts to drop off.
5. Prices correct heavily.Don’t you think 5 years is more than a good run in that area? I truly believe it is unsustainable for more than another 18 months. Why pay top dollar following everyone else in when you can just look to new areas just picking up. This is exactly the sheep mentality that gets a lot of less-experienced investors into trouble!
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksHi MA
I disagree with your comments.
I also believe it is lack of research that get’s new investors in trouble.
In my opinion Mandurah still represents good value compared to other coastal RE.
The focus in Mandurah is not just on the canals and beaches in and around Mandurah.
Mining is still a major contributor to the region. It is a $2.5 billion economy. Bauxite mining iron on a world scale and produces alumina valued about $2 billion.
Agriculture is the second highest earner at about $100 million a year and the region has a unique industry built around horse breeding and training, estimated to be worth about $75 million. Rock lobster fishing dominates the $16 million fishing industry around Mandurah.
Given the population explosion resi bulding industry is now worth $200 million a year.This Region is the fastest growing region in WA and I believe Australia now.
Population is expected to keep growing as developers fill in the gaps along the coast north and south of Mandurah.
Predications are that population will double by 2021.
If formites are interested in Mandurah I think most would be smart enough to research and decide for themselves whether this is fact or fiction and whether Mandurah still represents good value.
Marisa,
No, you didn’t offend me. And I hope I didn’t bore you my questions.
I haven’t bought anything because I can’t find a good buy possibly because I can’t see an opportunity.
As much as I like to get into IP I still can’t find one with what I think has a reasonable yield.
Put it simply most are dismal.
I can buy any major bank shares with 5% yield fully franked but I have enough shares and like to balance my investment with IP.
Honestly, I don’t know if I should take my time now looking for an IP. But either way my next investment will be in property.
I will contact Hegney Valuation Group. Are they into valuation only or also into development too? I like to know this. Don’t want to buy a share that your broker tell you to buy because he wants to sell his. Seen to many sharks in sharemarket hopefully not as bad in property market.Hi Zen
This is one reason why decided to do a land and house package in Dalyellup Beach Estate (Bunbury).
They are screaming for rentals and rental returns are great in comparison to Perth. CG was 37% last 12 months and still moving north. Bunbury is experiencing biggest boom in 30 years.
Apparently the last land release Dalyellup on Saturday sold out in 3 hours. We paid $97,000 for block 1 month ago, it is now worth $125,000.
If you are interested contact Bob Draper, Sattery (Perth office0
Regards, M
Originally posted by Marisa:I disagree with your comments.
No problem with that!
In my opinion Mandurah still represents good value compared to other coastal RE.One question….
If you could buy a can of coke yesterday for $1 and today it was $2, would you consider that good value?
Mining …. Agriculture …. unique industry built around horse breeding and training…. Rock lobster fishing….All have been around long before the recent property boom. Nothing new here! I have not heard of many new jobs being created in these long established industries.
Given the population explosion resi bulding industry is now worth $200 million a year.Artificially inflated growth. Property development eventually ceases as land runs out. Those jobs will all disappear. Where will the influx of population work then?
This Region is the fastest growing region in WA and I believe Australia now.Where are the jobs???
Population is expected to keep growing as developers fill in the gaps along the coast north and south of Mandurah.Again, where are the jobs? Retirees will not hang around for long either. They prefer warmer climates.
Predications are that population will double by 2021.Who has predicted this? The developers???
If formites are interested in Mandurah I think most would be smart enough to research and decide for themselves whether this is fact or fiction and whether Mandurah still represents good value.Mandurah represented good value 1-3 years ago. It is currently experiencing what other parts of Australia have experienced in 2002-2004. WA usually follows the rest of the country when it comes to property and this is their growth.
Part of any due dilligence is to also look at other property areas and economic conditions. Have we not learnt anything by the extended property boom experienced in Sydney, Melbourne and Brisbane?
Don’t you think that more than a doubling of prices in less than 5 years is artificial, a joke and POOR VALUE?
I would bet on it that it will not double again in the next ten years or even 15 years unless some serious sustainable long-term job creation occurs.
Good luck to those investing there this late!
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksHi there, your comments only reinforce the fact that research is the key to making a good choice.
Once again, if formites are interested in Mandurah. I would be contacting Council, Local Gvts, analysis data/stats over 10 year period. Contact Valuers who know the area back to front.
I still see value in Mandurah and I have mentioned some of these areas that are worth looking at.
Also, there was an excellent article in API on Mandurah about 2 months ago this should answer some of your questions. [biggrin]
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