What is your opinion on investing in Busselton? Only 2.5 hrs from Perth, gorgeous beaches, clear blue seas, jetty, blar blar. But not cheap.
We are looking at a holiday apartment there, I know that is not everyones cup of tea. The deal would be slightly neg geared, but we would be looking for CG. Although the area has already had massive growth, I think this is likely to continue. I can see Busselton as the Noosa of the West! Just looking for opinions of the area, would you invest there?[rolleyesanim]Hi bootylicious,
Is it a resort style apartment or stand alone? Theres a couple of developments happending down there is it beachside near Broadwater?
It is resort style, and beach side.
[biggrin]Hi Boo
I love Busselton but not in January….If you are chasing CG I would not touch the resort style apartments.
I would be looking at house on decent block of land and preferrably West Busselton, I have been advised by locals that this is by far the most sought after pocket.Busselton and generally south-west regional areas have had amazing CG over last few years. Unfortunately rents will not be too attractive if purchasing house but long term I personally believe will continue to provide great growth. Why, cos we just love the area, and the BB thing, and population expected to double (Hegney stats).
PS
Geograph Bay, great spotCheers, M
Hi again,
The reason I ask is that we have had a bit to do with a development in busselton at the moment – Cape View (near Broadwater on the beachside).
From what I last heard no pre-sales were being taking for a month at least but? A couple of our clients had submitted Expressions of Interest on some of the apartments.
I agree with Marisa – alot of the resort developments in and around the South restrict CG, primarily through the 10+ year Long Term Management Contracts.
The Cape View Development is a little different though. With that one you can opt in and out of Management Agreements and give as little as 3 months notice to withdraw from it. So you pick up the freedom of being able to use yourself when you want, book out when you want or use the Management Agreement should you need. And hence it gives rise to the possibility of CG when others don’t.
Just my undertstanding but, could be wrong.
Where? Busso? I don’t think its that nice a place. Theres no big shopping centres, fast food, high rises, busy roads, loud bars and clubs. Who’d want to go there…
Agreed asdf,
How could one expect to relax in a place like that? I mean whats the sound of ocean compared to the humm of 6 oclock traffic.
P.S. will PM you later today with some info on the questions you raised yesterday.
Just another article I read yesterday regarding Busselton (Provence).
$1Billion resi development “Provence” will be selling within the next few weeks.
Provence will replicate Dalyellup, which has been an amazing success. This is sure to boost employment and there will be other spin-offs from this .
Traditional lots will start at around $110,000 with 4000 sqm lot prices around $150,000.1400 registrations of interest have already been accepted.
Hard work never killed anyone, buy hey why take a chance
beautiful beach – pity the flies are so dreadful during summer! I did want to buy a beach house down there until I visited over the Christmas break… I think I will leave future visits to the south west to off peak. Slighlty further around Isee a very nice block for sale at Bunker Bay for $2.6m. now as nice as the view is am I alone in thinking this is insane? when developed we are talking about a $4-5m house – imagine what that money would buy you at a Perth beach
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
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