Hi Guys,
New to this forum.
Wondering if anyone has any opinion on the village at wellard. Looking at purchasing there in the upcoming release.
Thanks, A[biggrin]
Hi Alysha,
We bought in at Stage 9. Prices go up every release and they seem to release stages every 5-6 weeks.
Just between stage 8-9 the same size block went up $5000 and that was in a month.
I hear they are releasing 12 stages now – but the overall plan is 30 or more stages.
Has anyone else bought into this estate?
See ya, Mei
Thank you meilin08
Anyone else looked into wellard….. A traditional-style village with a modern train station at its heart – has to be a winner – no?
Thanks Aly[blush2]
yep – has to be a winner. I like it… can’t be bothered camping for lots tho. Is demand still that bad or can mere mortals buy blocks there again?
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
I had to camp out for stage 9 – apparently it’s going to be the same for stage 10.
Stage 9 went on sale sat 9am. We got there friday morning – there were people camping there from the wed night.
It all sold out within a few hours.
http://www.thevillageatwellard.com.au/files/Release%2010%20prices.pdf
Hi Aly,
Prices for stage 10 have just been released…I’m sure you already have them but the link is above if you don’t….
Prices have jumped a bit. We a block facing the park at $119,000. The block next to us is going for $129,000 and it’s a little smaller. That’s the price jump in just in 5 weeks. Unbelievable.
Hope the list helps.
Mei
Ausprop,
May be worth camping – if prices are going to go up like this?
Wayne (the real estate rep) really looks after the campers. He gets flood lights – portable toilets and on the morning of the release there is a bbq breakfast.
Mei
ps: still thinking about those elevated blocks at singleton – there are 2 left….!!!!
2? gees they must have sold some since Sunday.
note that you can’t flip Singleton blocks… apparanlty its in the fine print of the contract. won’t matter if you plan to build on it.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
I spoke to Wayne this morning, again people have been camping out since Wednesday.
Traditional lots have already been taken by campers, that is as long as they are there for daily head count.
I am going to do some hard talking and try to get my husband to camp out, its going to be a tough call though.
Let you know if I get a block.
Wayne (the real estate rep) really looks after the campers. He gets flood lights – portable toilets and on the morning of the release there is a bbq breakfast.What, he encourages people to camp out? Astonishing. I must have tinitis this morning – either that or I can hear distant warning bells.
F.[cowboy2]if you want a block in Perth you pretty much have to camp out. finding a block that will have titles in under 4 months time is virtually impossible.
warning bells… they are a long way away… your hearing mst be good F !
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Yes, I said “distant”. But this is clearly ponzi-style, hype-based, irrational exuberance inspired speculation, bearing no resemblance to value based invesment. And that’s fine by me. There can be good money made this way, but I wouldn’t recommend using a buy&hold strategy on these blocks, or you may find you’re the last in the line of “greater fools”… (No offence to anyone, this is a recognised phrase when dealing in irrational markets.)
I can give similar examples from Victoria if you wish that may give some insight to where you’re headed (although the argument will be that we don’t have WA’s mineral resources so the Vic experience is irrelevant). Remember, the developers would probably be making money if they were selling the blocks for $70-80k. When they start reducing prices for the latest stage, the cascading effect is dramatic…
F.[cowboy2]
No he doesn’t encourage camping!!!
But if there are campers – he takes care of them.
Marisa, – Good luck in persuading your husband.
Let us know how you go.Mei
Hi Aly/Marisa,
Did you guys end up getting a block?
Mei
I guess Foundation, if most of the buyers were speculating on these blocks, by either, trying to flip before titles are issued, then what you say may be true.
However, if all these buyers are homeowners or first home buyers who want to build then I think you are being a bit alarmist.
It is possible that demand exceeds supply, and in Perth right now, this certainly seems to be the case.
I have been monitoring one such market ( not Perth)for over 12 months now, where this is exactly the case, and its worse now than it was back then.
Nett result is that prices have increased, in some cases up to 100% in that time.It is certainly not ‘ponzi’ in its makeup.
It is simply people needing a roof over their heads when there are no roofs to be had.
kp
Hi all,
Release 11 goes on sale this saturday.
Price list is out… Glad we got in – in the earlier stages – but prices still reasonable compared to other estates.
http://www.thevillageatwellard.com.au/files/Release%2011%20prices%20_1_.pdf
See ya, Mei
http://www.thevillageatwellard.com.au/stage_detail.asp?id=18
Release 13 goes on sale Sat 11th at 9am…
There are campers there now!!!!!! (Monday Night)
So happy I got in, in an earlier stage….[biggrin][biggrin][biggrin]
Anyone else get a block here?
A[biggrin]
Hey A,
I think we are laughing all the way to the bank………..I rang Wayne Brown Friday and there were 4 campers there then! Its getting pretty ridiculous I think…..8 days of camping – you’d almost be classed as desperate. Anyway what release did you buy in – we bought in release 9.
chow
Sq[biggrin]
Well done guys! I recall passing on Release 4 or 5 thinking who would want to live in this estate when blocks were so “cheap”.
An interesting scenario I thought I’d throw out for you Perthites currently hoarding land. I have just had 2 of my IPs completed and tenanted to folks building round the corner. I have been lucky that I got in the initial stages and theres plenty more building to go. Now whats going to happen in 12 months after their place is built? I’ll be competing with possibly 5 other investors who has just built a similar product, looking for tenants who would again possibly be building round the corner. As the back log of construction catches up in 18 months time and a greater influx of investor purchases, will we see a flood of new empty homes? Add to the mix the possibility of a slow down in resource sector by 2008?
Curious if anybody out there thinks that pop growth will be able to soak up the excess supply caused by the speed at which blocks of dirt are currently being cut up?
“a greater influx of investor purchases” – I read recently that investor activity isn’t particularly high. With strong migration and the change in demographic requiring a supply of about 200 homes per week I don’t think there is any immediate concern – especially as developers seem incapable of producing new land releases at an increased rate…. lot approvals from 2004 to 2005 barely changed.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
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