All Topics / Help Needed! / Perth Guide – Orelia, what’s the news

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  • Profile photo of ProjectJVProjectJV
    Member
    @projectjv
    Join Date: 2004
    Post Count: 5

    With the proposed metro rail passing through kwinana, what’s my fellow perthite’s opinion of a little suburb called orelia.

    prices on average are way below the perth media prices but that’s because of its distance from perth (38km).

    i’m not 100% sure whether this suburb will boom with the rail coming through it. orelia is not a new area at all and most houses are probably built mid to late 70s. with a few units built in the late 80s.

    opinions pls. i’ve managed to spot a handful of near passives.

    Joe

    Profile photo of MTRMTR
    Participant
    @marisa
    Join Date: 2004
    Post Count: 663

    Joe, I have absolutely hated this area with a passion.

    However, seems like some people love it and it is doing well. What can I say.

    I think I would prefer Coolbelup as there is a potential for redevelopment….. big blocks etc. etc.
    Good luck.
    [biggrin]

    Profile photo of ProjectJVProjectJV
    Member
    @projectjv
    Join Date: 2004
    Post Count: 5

    Hi Marisa

    i’ve been watching the prices around the orelia/medina area and its pretty much been stable in comparison with the other suburbs within perth.

    there’s a lot of infrastructure in this area which i think shows it has the potential to grow. and with the train line passing through, it will provide families which can afford some of the crazy inner suburb prices. Medina/orelia isn’t that bad of an idea, close to rockingham, kwinana provides it with a potential income source for the blue collar. big blocks of land for relatively low prices. rents are aroung $140 for $100k props. not too bad.

    Joe

    Profile photo of PurpleKissPurpleKiss
    Participant
    @purplekiss
    Join Date: 2003
    Post Count: 580

    Joe,

    I think it’s got a chance. Have you considered looking for one that’s under the average price for the area because it needs a bit of work, do the work and captialise that way.

    Also make enquiries as to wehther there is still work going on in the area in regards to the “New Living” project, if so there might be a chance for further gains when that is finished. If it’s already finsihed then it may be that it’s not going to gain much more particularly in a flat market. It used to be heavy state housing, but with hosues being sold off as part of the New Living project this may have changed the %, check it out and see how high it is now compared to what it used to be and see what you think.

    However, the proximity to Rockingham and the new railway line is a plus.

    Good Luck.
    PK

    Profile photo of redwingredwing
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    @redwing
    Join Date: 2003
    Post Count: 2,733

    joe..

    have you spent some time driving around the area ?

    or just searching on the net/ looking through the papers ?

    If you have- bonus, you’ve done more than most and probaly are beginning to get a ‘feel’for the area and whats happening.

    Redwing

    “Money is a currency, like electricity and it requires momentum to make it Effective”
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    Profile photo of ProjectJVProjectJV
    Member
    @projectjv
    Join Date: 2004
    Post Count: 5

    Guys/gals

    I’ve driven around the general Orelia/Medina area. First time i spotted the area was when i got lost on the way down to Rockingham and thought to myself that it reminded me a little of Hamilton Hill, lots of cottage style housing with units surrounding the fringe. A lot of the houses there are on 800m2 blocks with deep sewage running through it. I love renos and have done a couple and have made quick bucks with the passive income ideas started to click with me.

    There’s definitely potential in this area, the question really is whether i’m (or any investor) is willing to take a punt. Rental market is purely targeted at the ppl working in Kwinana and not dwellers. I’m still waiting to see what they intend to do with Kwinana in terms of expansion of the industry, more specifically whether they will have enough gas flowing into the area for the industry to expand.

    Joe

Viewing 6 posts - 1 through 6 (of 6 total)

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