- Originally posted by Rigby:
After spending the last three weekends studying the Perth Real Estate Market and driving from Manurah to Clarkson attending Home Opens in frustration trying to find a +CF property I am convunced that the only suburb in Perth that comes close to goving a +CF return is Armadale.
A $140,000 house in Armadale generally will return a $160 p/w rent. The vacany rate in Armadale is less than 1% and the State Government is investing in Armadale by building new infrastructure such as new train station, Tonkin Hwy extension, cinemas etc, etc. Although the rental return of $160 for $140,000 is not fantastic it was the best I could find! I also believe that Armadale will grow in Capital due to the new infrastructure. What are your thoughts?
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Dear Rigby,
Have you checked the past growth rate for Armadale? I was told that one can easily go backwards investing in this suburb, despite its present +CF. Your present +CF rental yield can quickly turn neutral or -CF if the house prices will be gone up soon, as one can expect given all the expected development work there.regards,
Kenneth KOHOriginally posted by wayne b:[blink]For those who mentioned Hamilton Hill, Spearwood, Coolbelup & Hilton, I did survive my childhood there. Good luck [biggrin]
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Dear Wayne,What’s wrong with these suburbs, may I ask?
Please tell us more.
Thank you.regards,
Kenneth KOHDear Rigby,
Have you checked the past growth rate for Armadale? I was told that one can easily go backwards investing in this suburb, despite its present +CF. Your present +CF rental yield can quickly turn neutral or -CF if the house prices will be gone up soon, as one can expect given all the expected development work there.regards,
Kenneth KOHI don’t quite follow?
If it is +CF and the property appreciates it will still be +CF. Only extra holding costs could turn it -CF. So if there is no CG, so what you are still making money.
When you sell you have had the +CF and the CG as a bonus. The next owner may not have a +CF property but they have probably then bought based on the CG and is seeking more CG upside.
But each to their own.
Make money now and possibly make/lose money later.
Lose money now and possibly make/lose money later.It’s your choice.
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 HillForget Perth… buy in Geraldton!!!!
))The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksAnybody has an IP or ever lived in Padbury? What do you think of the propect there? Went for a drive on the weekend and saw few properties there. Prices are around $240 – 280K. But rent only around 190-200.week. Close to the beach and Hillary.
Forget Perth and Geraldton
Come south young people Mandurah, Astralind, Bunbury and Collie.
RegardsGERALDTON, GERALDTON, GERALDTON!!!!!
Lots of properties under 100k and positive cashflow!!!
GERALDTON, GERALDTON, GERALDTON!!!!!
PS: I hold property in Geraldton and always talk up the area but I did buy there for a reason!
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksHello,
I’m a n00b to this forum but I’ve been looking for a property in Perth for a while, somewhere to rent out and probably move into myself next year, so I haven’t been actively seeking CF+, just somewhere I could live happily without baving to rob any banks.
Two suburbs I had a look at and would not buy myself:
Ashfield – yes it has potential and it is close to the river and city, but it still has a lot of social problems. There are some nice new houses being built but a LOT of crappy old ones with really trashed front yards and scary looking tenants. And with rents stil low and no alternative accommodation being provided for these tenants I can’t see how the area would improve in the short-term.
South Lake – yes, it’s near the freeway and there is a lot of development happening, but if you go for a drive around there you can literally feel your hair stand on end. HUGE powerlines everywhere not just blotting the landscape but also a health risk too.
Just thought I’d let you guys know.
Cheers,
Ahi zen1,
I was renting a 3×1 in Padbury for about a year and a half in 2003/2004 for $180/week. Nice suburb, close to Whitfords shops and train station.
I think Padbury has a lot of 3×1 houses on big blocks. There are quite a few houses which have been improved too.
We were considering buying there (to live) but Edgewater suited us more.I don’t know if you’d get any +CF, but there’s probably some good CG potential there. It’s only one suburb back from the beach. Having said that, there’s also Craigie which you may be able to buy cheaper in.
Cheers,
QuinnyWelcome an9ie,
HHmmm Yes I’ve seen some scary things out there too.
But I think some time’s we need to look at the Big picture and ask are we being a little judgmental.
Usually Nice / Scary in some cases are only streets apart.
Have you seen to Banshea Grove??
I know its Nice,its on my list “oops out the bag”
RegardsQuinny, thank for the info!!! Nice to hear from someone that used to live there not long ago.
Definitely CF- (big time). Craige has gone up a lot and now it’s not much cheaper than Padbury. I was told by people that leave in Hillary and Ocean Reef to go for Padbury, they recond it’s a better suburb for little difference in price.
I saw 2 properties last weekend in Padbury, one nice but 295K and the other $259K but run down and on a steep slope.I now someone that live in South Lake, right behind the house is a power station. You can here the humming noise. Behind their back fence is a good 10 feet drop, the power station is lower than their house and it’s a big station/grids.
i think places like nollamarra, balga, and westminster would be good place to start! They all within 10km from perth!! [cap]
Nollomara has been gathering steam for a while from what i’ve seen.. Ashfield has potential IMHO if you can find anything for the right price there..and i couldn’t when i looked..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi,
Does anyone out there know why burns beach is selling blocks off at a premium in relation to its surrounding suburbs of Iluka and Mindari? My only thoughts are that some people have been waiting so long to live there they are prepared to pay for it! Current land prices are similar to Hillarys.
James Wincott
Everyone is cashing in on the hype. Remember what happened in Tasmania people!!!
TMA
http://www.email4money.info
Investor Links
First Home Buyer WebsiteWell done you guys,
When i started reading this set of posts, i thought, “Hah! Everyone’s cagey, isn’t that just like human nature? No one wants to let the cat out of the bag.” BUT I WAS WRONG! There are some brave ones out there. Good stuff!
I’m relatively new to this forum with only one post so far, discovered it last week!
I think this forum is an absolute gold mine (thanks Steve). I’m in the mining industry, and know what gold mines look like, and this is one of them! A place where everyone shares there thoughts and ideas. Hard to find high grade, posted there on the internet – for free. Sure there’s some low grade in there, even some waste, but you do your due dilligence, and you’ll sort out the good stuff from the bad.
Now, with respect to letting the cat out of the bag, its a numbers game guys. If i put out an idea on what i believe to be a good suburb etc, do i realy think all the good deals will suddenly get snaffled up by all you “go get em” folks. Hell no! Mine won’t be the only suburb idea put forward. I’d happily risk a few more investors sniffin around a suburb in order to get feed back from a crowd as big and diverse in view as you. Whats to say we’ll be sniffin around at the same time huh?
Come on, lets get lots of cats out there!
Having said all that, there are my ideas:-
In perth, i like Parkwood (have already bought there). Parkwood has good infrastructure, bounded on 3 sides by 4 lane roads, and on the 4th side by a golf course & the new Roe highway, which is just about to meet up with the kwinana freeway!
Riverton forum (shopping complex) is actually in Parkwood, being on the parkwood side of the street corner of where Parkwood, Willeton , riverton and Ferndale all meet. It has had good growth this year, is out performing its neighbours, and is cheaper. Streets are wide, has 2 VERY large parks, and many small ones.
Parkwood was overlooked for ages because its neighbours riverton and ferndale were on to the canning river, and willeton was neighbour to booming Rossmoyne and Bull creek. Parkwood is now catching up. Council’s currently resurfacing the road throughout the suburb & putting in new street trees. Houses are mid 70’s, median house price about 230K
Now the next place i realy like is Stratton, just outside of Midland. Is less than 10 years old, very cute, but has much government housing. many 3×1’s Place already boomed a lil whle ago when everyone suddenly became interested in Midland, but i believe it will continue to grow if not as rapidly as before, because midland is now starting to come into it own. After a few years of attention Midland now the looks like its realy going somewhere. Its a damn busy place.
Westfeilds are currently turning midland’s shopping centre into one the size of carosel & Garden city. Ave house price in stratton is about 170K. Rent is good,
What do you reckon? Am i full of crap or what?[biggrin]
Ok, thats enoughh from me, gotta go have some breakfast!
Regards,
Cabo Wabo
Cabo Wabo
Originally posted by TMA:Everyone is cashing in on the hype. Remember what happened in Tasmania people!!!
All that interbreeding.[lmao]
Seriously, WA has the resources boom with growth twice the national average.
There are skills shortages here in Perth and regionally with silly money being offered. Staff poaching all sorts of fun and games.[party]
Whilst there are still people coming to Perth there is still upside.
Hey, make hay I say![biggrin]
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 HillHi, All,
I am the northern surburb fan. I have compared surburbs across the metro area. West of Mitchell freeway is much better potential than any other areas. Currently undervalued surburbs such as Craigie, Beldon, Heathridge and Padbury will have great potential. Just compared with their neibouring surburbs, you will find what I am saying. For example, Craigie, west of Freeway, between Woodvale and Kalaroo, it is so cheap – probably cheaper that the land price. East of freeway-woodvalue – $350k midian price, west of Marmion Ave, Kalaroo – $390k – but Craigie – $220k …You can find the potential. You can argue Kalaroo should be more expensive but how can you argue Woodvale…
For investment, either CF+ or -, these 4 surburbs are definitely the winner over next 10 years!!!
Hi everyone.
I have a business that assists people in selling privately…Australian Private Realty.
If anybody is interested..I have access to all the properties for sale in every suburb of the Perth Metro Area which is updated daily. If you are looking for a specific suburb and price range I can email you a list of properties for sale in that suburb. Thought it might help some of you out rather than looking in every paper to find what is for sale.
Please call me on 1300 882 500 or email me at [email protected]
Kind regards
Tania[blink]Hi Yarwood. Seems like you have heaps of advice (mostly good). I’ve lived in Perth 15 years and bought & sold and rented til I’ve gone crazy. I’ve made some stupid mistakes with props such as selling at the wrong time and being outpriced while renting and not using my extra $ to buy +CF properties. I’m on a winner at the moment here in High Wycombe. Values have gone up here 22% in the last year. Hint. Look for suburbs that have boomed recently and check out the cheaper neighbouring suburbs.Especially if you find major developments improved transport links or rezoning changes in these suburbs. Check out suburbs close to Rockingham eg. Medina, Orelia etc
Gosnells, Maddington are also on the move. Langford has had a 17% growth average over the last 5 years. Midland areas are also growing fast.
Don’t forget some places within 2 hours drive from perth eg York is booming and looks like its set to continue.
The common trend for booming areas seem to be proximity to ocean or waterways, quick and easy transport routes, shopping, schools & other major facilities. Even the quieter country towns like York offer a change of lifestyle and yet are stll close to Perth.
I’m like you – searching for a great bargain. W’ll keep our eyes open. Best of luck! Outbackgems.
))
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