Well wa has just boomed everywhere, looking to buy my another ip (first in wa) and considering scarborough. Looking at buying as close to obs city/beach area as possible up to 450k (strata). Heard that there are some big developemnts planned by stirling council for this area that should have a positve effect on property values.
Any comments/suggestions on my proposed course of action are most welcome as for me this is lashing out on property investment (usually low cost and +cf only).
Hi Venno,
Check your private messaages on the left – just sent you one.
Mei
Just like the city it’s going to be an oversupply of units & if you hang around Scarb during the week you will get a good idea of what kind of tenant you’ll attract. If you decide it’s the place for you, make sure you get parking for the number of rooms. Also double check rental return & not what the developer tells you.
Just my bit of wisdom of course.well i tried to negotiate with an agent on a 3br townhouse in edgehill st. The list price is 399-409k, i started at 387 and went up to 392 but the vendor/agent wouldn’t budge from 405. Rp data suggests the underlying value is only 382 max, it really must be a sellers market. The property has been on for a month with no offers but mine as far as i know, and it doesn’t look like they will accept anything under 400k (regardless of their listing range).
This is starting to become a frustrating exercise, especially as there is not much for sale close to the beach in scarb between 350-450 (3br).
Venno,
Have a close look at Coogee. This is a beachside suburb not far south of Fremantle. The proposed marina development has recently received approval and traditionally this kind of development has a positive impact on property prices. I’d love to get in that area myself but it’s a bit pricey for us. However, your $450K should will certainly see you in the game. Worth a look anyway.
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