Ive been reading lot about how prices in rockingham and bunbury could rise and property investors could make some money in these suburbs whihc is currently cheap.
Im encouraged about bumbury and looking at any good deals .. but not sure about rockinghamPeople any suggestions and advice about these areas and possible upside( short term or long term)
Cheers
jeffHi Jeff,
For what it is worth – your statement "how prices in Bunbury and Rockingham could rise" could applay equally to all Perth suburbs and also to many parts of WA.
Rental market in the inner ring (just outisde the Perth CBD) seems to be tightening at the moment. REIWA reported 25% more sales this year than at the same time last year (even though median prices remain relatively static), some mining companies are moving head office staff into Perth and there is a reported demand for furnishing units in West Perth, North Perth type areas.
For mine money is better spent in these areas than Bunbury and/or Rockingham.
Without knowing your goals and situation it is hard to comment further.
Hey thanks derek for the info
I was considering a house in Bunbury over one in perth northern suburbs mainly due to the budget , while i do believe that a 2 to 3 bedroom property anywhere upto 10 km from perth cbd has good rent potential , at the same time with strict lending criteria its easier to get a property at much lower price in bunbury with as good rent potential and future growth in bunbury.
Hard choice to make given you can afford 10 km from city (approx $400,000) or in bunbury ( anywhere between $300,000 to 400,000)
Regards
jeffKnow what you mean – budget considerations are always a major issue.
If you can afford it I would suggest Perth is a better option than Bunbury. Getting as close to city centre as possible is an even better option.
We are looking at some North Perth options with potential rent return of 9%. Was also speaking with a Vic Park property manager today and she said rental 'home opens' in northern suburbs and close to the city are attracting big crowds and it isn't unusal to see rental applications going in above askin gprice. Message wasn't the same for southern suburbs.
Hope this helps.
We just bought in midland for a pretty good entry price and great rental return for our third IP…try looking at ugly duckling places closer to the CBD that have some things going for them:
-injection of funds from government
-an active local council
-an úgly duckling' suburb that is going through a process of gentrification and urban renewal.If you can't find any I would suggest Rockingham over Bunbury just because of it's relative proximity to Perth and it ticks those things I just outlined above. Just make sure that you don't get sucked in by those houses there that are way over market value. Stick to your budget and look for the bargains that maybe just need a quick coat of paint or a cosmetic lift that could see you get more value out of the property.
Rockingham when i last lived in Perth was considered by reputation to be an undesireable area to live for crime rate and things like that.
Been a long time though, maybe things have changed.. but if there are better areas as suggested that you could be looking in then why take the risk?Pat007 wrote:Rockingham when i last lived in Perth was considered by reputation to be an undesireable area to live for crime rate and things like that.I don't believe things have changed that much Pat. Some interesting developments going on in the beachside and just back from the beach streets.
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