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Hi All,
Used to go to Mandurah as a kid in the 80’s, and now just to visit Dad in his villa.He bought a 2 bed villa in 2001 for $85k ($25k from me), and now it is worth somwehere around $130. But he’s there for the duration, so I’ll let it sit.
BTW – the reason the Eastury used to stink was it clogged up with algal growths. There were the result of excessive fertilizer running off from surrounding agricultural properties. As the eastury is shallow and warm, the algie just bloomed. The Dawsville cut was the result of trying to flush it through. I can remember when Dawsville was just a petrol station and a small caravan park.
Also, back in the 80’s, my grandad had a property with a shack on it in Miami beach. He knocked it down and built a large house for retirement, then developed heart trouble and had to move somewhere closer to Perth for the treatment. Basically, he couldn’t get what he wanted for the house – classic overcapitalisation. But I guess that only matters if you want to sell.
Davidel
