Whats happening in Perth. [Archive] - Somersoft Property Investment Forums

dtraeger2k

05-02-2003, 03:41 AM

Hello all,

Have we got any Perth posters here?

If so, what do you think is happening in the Perth market at the moment?

My own opinion is that the 'way-outer' suburbs are probably the place to have your IP's now. In the north, places like Clarkson and Conolly and especially in the south, places like Rockingham, Kwinana, Warnbro. Also to a lesser extent those middle southern suburbs where that new train line will run like Thornlie and co.

What is everyone elses opinions? Perhaps we can discuss those and/or mine here?

Kevmeister

05-02-2003, 08:55 AM

Without knowing Perth whatsoever, it's an interesting observation since the typical strategy I see from participants on this forum is to buy either near the CBD or near the water. Do these "way-outer" areas meet either of these criteria?

But I guess it also depends on whether you are buying for capital growth or cashflow...

TOTS

05-02-2003, 01:36 PM

Originally posted by dtraeger2k

If so, what do you think is happening in the Perth market at the moment?

My own opinion is that the 'way-outer' suburbs are probably the place to have your IP's now. In the north, places like Clarkson and Conolly and especially in the south, places like Rockingham, Kwinana, Warnbro. Also to a lesser extent those middle southern suburbs where that new train line will run like Thornlie and co.

What is everyone elses opinions? Perhaps we can discuss those and/or mine here?

Are you wanting to wrap, lease option, capital growth, cash flow etc... there are a lot of questions you need to resolve. Not the least of these is:
Where do you want to end up?
What is the purpose of the investment?
What is your overall stretegy?
Have you got an investment profile?
What research have you done?
Where do you do your research?
What investment structures do you have planned?
Do you understand cash reserves?

These are just a fraction of what you need to understand if you are going to invest. Perth is like every where else a rough diamond, you just need to know how to cut and polish it. Look to the traditional low growth areas and the high growth areas and if they meet anywhere.

Buying in outer areas will be determined by your answers to some of the above questions.:)

Stephen
www.thinkoutsidethesquare.com.au

dtraeger2k

06-02-2003, 12:59 AM

Thanks for your replies.

Kev: Im basically looking for positively geared / positive cashflow properties. The reason for this is because as far as I've seen so far, the rent levels seem to be fairly consistant throughout the city. Therefore logic tells me (if ones looking for +gear/+cf), that most influenting (is that a word?) factors are the cost and the occupancy. The costs to buy properties are fairly low in the northern and southern extremes, and the occupancy is just as good because of the population spread and amentities (unis, hosps, emp opps, transport) that are in / coming to these areas.

'TOTS': I hope the above answers your question as well.

Are there any 'Perthites' here who have similar / opposing views? I'd love to hear them and discuss them either way.

tonyd

06-02-2003, 12:24 PM

Originally posted by dtraeger2k
Hello all,

Have we got any Perth posters here?

If so, what do you think is happening in the Perth market at the moment?

My own opinion is that the 'way-outer' suburbs are probably the place to have your IP's now. In the north, places like Clarkson and Conolly and especially in the south, places like Rockingham, Kwinana, Warnbro. Also to a lesser extent those middle southern suburbs where that new train line will run like Thornlie and co.

What is everyone elses opinions? Perhaps we can discuss those and/or mine here?

Hi dtraeger2k,

Welcome to the forum.

I'm one of a handful of Perth/WA forumites.
I'm only a novice investor though.

My opinion of those places?
I don't know them so I don't have one.

I think you can make money in property anywhere if you buy well and invest to a plan and the numbers add up and all the basic amenities are there.

The further out you go the lower the capital growth of course, unless there is some distinguishing feature - like the Indian Ocean.

It comes down to knowing your market and being able to spot good value for money.

There is an element of speculation that values will increase along the train route. It shouldn't make those places less desirable anyway.

Nothing wrong with your plan to look for +ve CF properties.

You should also search the forum for old threads discussing how to turn a -ve CF property into a +ve one, e.g. redec/reno.

Good luck!

cheers, Tony

grodnik

06-02-2003, 11:09 PM

I'm sorta in the sameboat as you dtraeger2k, new to IPs and new to the forum. I've found the help from the forum to be most extroadinary both motivationally and intellectually. Here's a few tips other Perth formites have provided me (you know who you are and I thank thee) particular to Perth.

RE listings in Perth
http://www.realestate.com.au/cgi-bin/rsearch?a=sf&s=wa&t=res&snf=rbs

REIWA specific (http://www.reiwa.com.au/content-research.cfm)

Very useful data if you visit in person, not much on line at
http://www.vgo.wa.gov.au/

There's a few other sources, PM me if you wish to chat.

There's enough in the above to really get to know the Perth market, but there's nothing like getting out there.

Cheers,
grod

f.f

07-02-2003, 09:56 PM

Hi Grod,

Valuer general's statistics are available online for a cost at www.aussiehome.com There is a link (top right?) to valuer generals stats. your can do a suburb by suburb search for property sales data. Additionally the link also has trends (five years?)

Rockingham's long term (30yr av) growth has been 7.4%, Warnbro's 10 yr growth 3%, Connolly 10 yr growth 6.2% the other suburbs you mention are relatively new and do not have a long term growth history.

There is significant amounts of federal, state and local government money being poured into Gosnells, Midland, Joondalup and the Rockingham area. the ripple effect is being felt in some of the neighbouring suburbs. You are a bit late for Thornlie that had a burst twelve months ago. The Mandurah railway line will have a significant effect on property prices in the neighbouring areas - in particlualr note the areas around proposed train stations. www.hegney.com.au have a newsletter (last year) identifying the areas that include proposed railways stations.

Hegneys top 10 for 2003 are predicted to be (in order) Doubleview, Mount Pleasant, North Fremantle, Scarborough, Bayswater, Carlisle, Redcliffe, Westminster, Balga and Cloverdale. You'll notice 'Polly's Pipe' is still having a positive and significant effect on property prices on the eastern entrance to the city.

Vacancies in Perth average around 4.5% at the moment hence ensure you have enough readies up your sleeves in case you are one of the 4.5%.

Perth's growth hasn't been anywhere like that experienced on the eastern seaboard. Take your own position on what that means. Some pundits say it means we have missed out, others say our turn is coming, others say we will not experience a 'correction' - for me I am still buying if the numbers add up.

f.f

Bulldog

07-02-2003, 11:16 PM

G'day,

Well I am originally from Sydney and I just love buying in Perth.

I am not one of those who believe keeping it a secret to be a smart alec - basically closer to the water the better, anywhere near the new railway extensions.

Buy near Runway, Railway, Freeway, Fairway is an old adage I heard a while back and it is basically a true one in Perth especially with the level of Government and private investment coming in. I have invested there but obviously it is not for everyone.

Have invested in a few of the areas mentioned - Balga - incredibly positively geared after buying in 1995 (go for the duplex or triplex blocks) there has been a heap spent here with the Governments beautification programme and it is really beginning to work - only 10 km to the city as well. In the south I chose Warnbro - closer to the bay the better. The prices have gone up around 20-25% per year in the pocket near the beach since 2000 and are still going up. Also got in at Rockingham Beach around 200m from beach and 1000m from the up and coming cafe strip - amazing price. Ramada are about to build a Hotel and there is two really nice developments going in with new accommodation and restaurants. Also a monorail is planned to run from the University/ train station to the beach front.

Where else ? Well look at Warwick, Greenwood, Koondoola, Girrawheen in the north - they are all surrounded by more expensive suburbs and are close to freeways and railway and Hillman, Coolongup, Palm and Rockingham beaches and Golden Bay in the south.

Hope this helps.

dtraeger2k

08-02-2003, 02:03 AM

Thanks bulldog, that helps a lot.

ff: Your post answers my questions as well. A few of the suburbs you mentioned are really expensive to get into, like Mt Pleasant, Scarborough. However perhaps properties that a borderline to these in neighboring suburbs might be the go, as tennants try to go close to the suburbs they like?

Joondalup is becoming very expensive, I wish I was there about 6 years ago lol. (Tho I'd be about 14/15 then :P ) I've noticed the spending going on there because I've been working in that area lately.

Sunstone

08-02-2003, 06:54 PM

Dear Bulldog,

Buy near Runway, Railway, Freeway, Fairway

Interesting quote and I like the general feel of it.

However some more individual analysis:

Runway
-Good for getting to the airport, nearby hotel/motel accomodation and for airport employees. However what are the issues with regards to airport noise and flight paths? Badgery's creek wasn't that long ago although it's slipped off my recent radar.

Railway
-Definitely agree on this on. I think railways are great. Just watch right on the line has an equally negative effect because of the noise factor.

Freeway
-Yep good one. Just avoid immediately beside the highway. (Watch for potential of governments reclaiming land for freeway extensions as the areas get busier and extra lanes are added or widened.) Are there enough sound barriers to keep tenants happy?

Fairway
-I think sometimes this works and sometimes it doesn't. A lot of golf courses are built on flood affected areas which stops medium density housing development. (Council's don't like to be blamed for allowing too much housing in a known flood affected zone, where approvals are expensively pushed through they do will require all bedrooms to be above the highest 100 year flood level and using more expensive flood proof materials.) Minor thing also, houses beside the course have to ensure protection for their windows. :)

Cheers,

Sunstone.

dtraeger2k

09-02-2003, 12:09 AM

Anyone here catch today's 'The West Australian'?

It showed the median house prices for the quarter, year and 5 years periods for every suburb, as well as the whole city.

I was amazed to see that some had risen as much as +30-40% over the 5 years, and also that a couple had grown +15-20% in the past year. I think the lowest performer was about +3%. Therefore most areas in Perth are showing some healthiness :P

However, these are only the median values, it doesnt really paint a whole picture. Especially when it said the average time to sell a property was 48 days (up from 46 at last count).

Whats everyone elses take on this?

Bulldog

09-02-2003, 02:48 AM

Thanks Sunstone,

Obviously I meant in close proximity - not right under the flightpath, ON the railway line, or backing onto the Freeway - I meant buy where this infrastructure is popping up but not too close to the infrastructure itself. With Perth most of the "Ways" are being built to/in coastal extremes north and south so the closer to the beach the better in these areas. Also in Perth there is not much danger of being flooded out building/buying on a Golf Course - have you seen how much sand we have?

No Draeger I didnt see the Newspaper - cant get to them where I am at the moment - how did the suburbs we all mentioned fare?

I will have a look at the Hegney website - he is quite cluey. When I read the West Australian I always look what he has to say rather than Real Estate Agents as commentators. They always hype, hype, hype!! suburbs or areas where they are developing or have been lagging in sales - subjective comment I know and not always true but something to watch. Has anyone noticed how much property hype there is in the weekend papers in the West compared to0 the East - it is amazing!!

geoffw

09-02-2003, 08:38 AM

Originally posted by dtraeger2k
Anyone here catch today's 'The West Australian'?

It showed the median house prices for the quarter, year and 5 years periods for every suburb, as well as the whole city. I found the article- though the online version does not go into detail, sorry:

http://www.thewest.com.au/20030208/news/state/tw-news-state-home-sto87302.html

dtraeger2k

09-02-2003, 02:22 PM

I have copied here the data from 'The West' only for the suburbs which have been previously mentioned in this thread:

Suburb 3m 12m 5y (%)
Clarkson 0.8 12.7 6.4
Conolly -2.5 9.0 7.5
Rockingham -0.3 10.1 5.3
Kwinana no data
Warnbro 3 14 5.3
Thornlie 1.1 9.0 5.3
Doubleview 2.3 17.8 12.6
Mt Pleasant -1.2 13.8 11.3
North Fremantle 4.9 28.9 15.2
Scarborough 0 14.9 12.4
Bayswater 0.6 21.7 11.5
Carlisle 2.5 13.1 9.6
Redcliffe 2.5 14.1 14.9
Westminister 4.1 19.3 13.1
Balga 2.7 19.6 13.6
Cloverdale 3.1 19.5 11.9

I hope data when displayed turns out readible :P

Of course those figures only pertain to the median price for that suburb, and dont really take into account the volume of properties being sold. For example a suburb with a price growth of 10% and an increase in sales of 10% is very different to a a suburb with a price growth of 10% but a decrease in the number of sales by 10%, wouldnt ya think?

Bulldog

09-02-2003, 06:44 PM

Wow what a three months!

No surprise with Freo - strength to Strength but for value for money and cash flow how can you go past suburbs like Clarkson, Warnbro, R'ham near the beach and Balga/W'minster near the city. Kwinana figures look at Orelia, Medina, Parmelia and Calista. Particularly Parmelia near the train line development.

dtraeger2k

10-02-2003, 12:32 AM

Do you think those suburbs have already missed the proverbial boat?

giraffe

10-02-2003, 07:57 PM

Perth is sounding quite exciting - growth currently appears very good and prices are affordable which puts me far more at ease than Sydney. $200k for a newish property close to the city, imagine that !?! :)

Anyhow - i'm new to property research and I plan to move to Perth for a few months to buy a property or two at the start of next year after having saved $50k cash (covered in an earlier post).

I'm really looking forward to it but I must admit I know nothing about the city (or state) and don't know how to start doing some interstate researching ?! Perhaps I should first buy a street directory and become familiar with major suburbs and roads and get a feel for the size of the city. After doing this I could check out real-estate ads on the internet.

1) Are there any books I should purchase or websites I should bookmark and start researching ?

I'm also planning to organise a job before I leave (300/w) and live off that while I get a feel for the market (i think i have to stay there for a while to start getting a good feel for what properties are worth and therefore hopefully buying for a good price).

2) That's basically my plan, stay there on a low income until I buy a property or two. How much might living expenses amount to if I lived with a uni student in a cheap flat ?

Please once again point out if something doesnt sound right to you :)

Jonezy

11-02-2003, 02:12 AM

giraffe

Expenses shouldn't be too bad. I lived with 2 people in Maylands (5k or less from the city) and paid $33/wk rent while i was at uni.

A UBD would be a good idea showing the council boundaries as well as the suburbs.

Finding out more about the proposed railway heading south (not sure if they've decided when or how they're doing that) which I think is supposed to eventually go all the way to Mandurah (~70k south) will possibly help u find potential suburbs for investment. Another one would be the extension of the Mitchel Freeway (North), which I've either heard something about or made it up and convinced myself of :)

I live about 12k from the city in a suburb known as being a homeswest (housing commission) area, but the suburbs north and west of this one have about a 50k premium for a 3-4bedroom house. Theres also similar suburbs east of the city, but I'm unsure about south.

Hope any of this helps.

dtraeger2k

11-02-2003, 06:48 AM

Giraffe: Good to see you wanting to have a go. There aren't really any books on the kind of thing you asked for. The best thing you can do is live in the area for a while to see and get a feel for whats going on. It seems like this is already your intention.

It should be really easy for you to find a little place for 100-110 a week, share it with another person - 50 bucks a week isnt bad. It'll be a little cramped, but you believe in delayed gratification right?

Jonezy: 33 bucks a week?!?! I pay more than that at home with my parents lol. I'm doing things the opposite to what my advisor taught me, he suggested I get my own place then use the equity to get IP's.

Anyway, if that Mitchell Fwy does get extended further north I'd expect some good CG in Clarkson / Conolly / Currambine since they will become more accessible to the city -- have you heard how far it will be extended?

The train line has already caused some CG in those southern areas, If it ends up going all the way thru to Mandurah it'd make for some nice growth all the way down there.

giraffe

11-02-2003, 09:51 AM

Thanks !

Is the idea to simply visualize where the new rail-line or freeway will be and buy properties directly in it's possible path ?

Are there any tolled roads in WA or Perth ?

Jonezy

11-02-2003, 03:44 PM

dtraeger2k: Yeah it was a 3 bedroom apartment for $100/wk. A couple of friends were living there before I moved up, and it's the cheapest 3 bedroom I've seen.

giraffe: The roads here are that bad noone would pay more then we already do (fuel tax, cost of repairs to suspension etc) to use them. They must have spent a few quid on the Tunnel and its some of the worst road there is, along with the rest of the freeway.

New Dad Soon

11-02-2003, 03:48 PM

Just a thought.........

Don't forget the difference between speculating...... and long term capital growth.

The northern suburbs has a greater infrastructure (transport, shopping centres etc) than the south, and demand appears to have increased primarily along the coastal strip side of the railway.

Sure there will be a short term gain in values along the southern line, but don't forget the other factors that create the amenity to the area if you are looking for long term.

Otherwise you are playing the market for short term, and real estate very rarely is.......

Bulldog

12-02-2003, 03:11 AM

New Dad,

Thanks for the post. You said:

"The northern suburbs has a greater infrastructure (transport, shopping centres etc) than the south, and demand appears to have increased primarily along the coastal strip side of the railway."

Sorry, dont agree. The Waneroo Mayor was quoted in the Westralian 10 Feb complaining that the North is about to become the "poor cousins" of the south. The state government are building 71km worth of rail south of the river compared to 30km north. Additionally the new Kwinana freeway (millions spent on overpasses and new lanes in the last 3 years) which has just been expanded over 15km will be expanded to Mandurah in the near future. There is a new Marina being built in Mandurah, an Aquatic centre in R'ham that rivals anything in the north. Also have a look at :

http://www.thewest.com.au/20030212/news/perth/tw-news-perth-home-sto87659.html

The quote I thought interesting was:
"A NEW regional centre for 200,000 people will be built along the Perth to Mandurah railway providing an entertainment, recreation and commercial hub for the growing southern suburbs"
fairly amazing ! All South of the river!

I really dont want to turn this into a North vs South debate but people buy in areas where prices are reasonable and there is big investment by the government and private enterprise. You cannot say that capital growth will be anymore short term in the South than it will be in the North.
;)

regards,

Bully.

New Dad Soon

12-02-2003, 05:04 PM

Hi Bulldog

thanks for your comments........

interesting comments from a politician who feels they are going to miss out. I guess on the land side of the freeway they are always the poor relations. Wanneroo township has suffered from development almost passing them by.

His comments are a nonsense when you consider that Hillarys marina, Marmion Aquatic centre, Joondalup centro regional centre and the freeway/train line have all been there for years already. Politics of envy I guess.... after all, that is all in the City of Joondalup (and the sea side of the train line as I said)

Not quite sure what you meant by his comments refuting what I said re existing infrastructure.....

I actually said be aware of the difference in capital growth and speculation, in relation to amenity.

eg looked closely at the recent releases of Mandurah canal lots and their prices. plot sizes, zoning and set backs compared with the widths of the canals to the older canal area shows a significantly higher density, and (so far) a trend to single storey housing. It is supposed to be a 'get away from it all' lifestyle, yet the densities feel like inner city housing. IMHO, that will not allow for the growth that has been experienced in other pockets of the area due to lack of amenity.

For me, that was enough to move on, but I am not everyone.

Having lived both North and south, and spending the money on researching growth in every Perth suburb, I have been able to plot trends..........

Surprising results indeed

eg, North fremantle results are skewed by recent townhouse construction sales that create a 'spike' on the growth chart (happened in 1998 and 2000)...... and then settle back down the following year (minus 7% and 2%) but hey, now I'm waffling.......

cheers

dtraeger2k

13-02-2003, 02:06 AM

New Dad Soon:

but hey, now I'm waffling.......

Feel free to waffle, you never know what someone out there may learn from it.

I like your comments on the Mandurah issue, and I agree. However, in the long term I believe that this development closes the gap between the 2 cities, which should create lots of further development areas all the way between the 2. It is these areas that I believe will trigger growth in the whole city. This is because Perth will become a much bigger city and more accessible for all, sort of similar to the bigger cities in Australia.

My parents remind me of a time when Fremantle was out in the "sticks"

Just my 2 c
Im glad that the thread I started is getting some good input.

Bulldog

17-02-2003, 04:42 PM

Does anyone know what is happening on the Rockingham Beachfront? I understand that the Ramada is building a hotel, as well and I also heard that there was now another development going on in terms of another highrise.

Also heard some whisperings of a Marina near Point Peron. Does anyone have the inside goss on this one?:D

Bully

XBenX

18-02-2003, 01:37 PM

Originally posted by dtraeger2k
Anyone here catch today's 'The West Australian'?

It showed the median house prices for the quarter, year and 5 years periods for every suburb, as well as the whole city.

I was amazed to see that some had risen as much as +30-40% over the 5 years, and also that a couple had grown +15-20% in the past year. I think the lowest performer was about +3%. Therefore most areas in Perth are showing some healthiness :P

Dunno whether its just me (and my eastern state experience) but 30-40% over 5 yrs sucks IMHO

thats 12 odd years to double in value - which is a quite a long time......(esp considering these last 5yrs have been _very_ favourable for IP)

tonyd

18-02-2003, 01:54 PM

Originally posted by XBenX
Dunno whether its just me (and my eastern state experience) but 30-40% over 5 yrs sucks IMHO

thats 12 odd years to double in value - which is a quite a long time......(esp considering these last 5yrs have been _very_ favourable for IP)

Yeah, that does sound bad.
I think DT's figures must have referred to an annual rate?

See the REIWA (http://www2.reiwa.com/content-suburb-30Year-Trends.cfm) site for slightly old data.

cheers, Tony

XBenX

18-02-2003, 05:04 PM

figures on that site make more sense

dont know if 40%pa for 5yr ave median is likely to be correct though

dtraeger2k

20-02-2003, 03:33 AM

That 40% was pa, and represented the top performing suburb, not the median.

Hope this clears it up.

Nicko

06-03-2003, 01:07 AM

Don't forget Eden Hill.

TheBacon

06-03-2003, 04:28 PM

What about Eden Hill Nicko?

I think it is good value at the moment - Much lower than Bassendean, not a lot more expensive than Lockridge (and without the Lockridge stigma). Good rental returns.

Eden Hill median price $135k median rent $170/wk
Bassendean price $175k, rent $132/wk
Bayswater price $207k, rent $165/wk
Lockridge price $115k, rent $122/wk
Morley price $182k, rent $162/wk

Do you have anythying else to add? Developments? New zoning? Other reasons?

I live near Eden Hill so I would be intertested in what you have to say.

TheBacon

dtraeger2k

07-03-2003, 03:18 AM

TheBacon: May I ask where you found the suburb median rents? (Im assuming residex)

Also, out of the suburbs you listed Eden Hill is having a better (median) yield, but is there any growth? It seems like a really old suburb too, especially near Walter Rd E, it looks like most of the properties were built in the 70's hehe so im not even going to guess about the CG :p

The more I read this thread the more im convinced that every suburb in any capital city has something for someone. There is probably at least one suburb that match's ones goals.

Nicko

08-03-2003, 12:30 AM

You can get some real character homes ('Bassendean') homes in Eden Hill.

The Eden Hill primary school is generally highly rated.

It is a near river suburb (as the river takes a turn in Bassendean -crosses the train line).

Rixter

08-03-2003, 01:13 PM

dTraeger2k,

All Perths suburb profiles and info you've asked can be found on the REIWA & aussiehome websites !

TheBacon

09-03-2003, 08:23 PM

Yep, all my numbers are from www.reiwa.com.au

Eden Hill is actually a river suburb, not a near river suburb, as the old Pyrton mental health hospital actuall backs onto the river !!! I'm being pedantic though, as it only backs onto about 100m of the Swan, the rest of the Eden Hill border is Bennett Brook (not quite a river, more a slow trickle, and weed infested !!). ;)

Character 'Bassendean' homes dont come cheap in Eden Hill any more.

On a different note....
The rent figures on the Reiwa site are not correct. I live in Bassendean and there is no way you could rent a 3x1 house for $132/wk, it woild cost you at least 150/wk, much more in the 'good' part of Basso. And I'm sure you wouldnt pay more to live in a 3x1 in Eden Hill !!!!

There are lies, damed lies and statistics (or something like that)...

TheBacon.

dtraeger2k

10-03-2003, 05:25 AM

Using REIWA, I just got that the average rent in Bassendean for the December quarter of 2002 was 156 for a 2B house or 181 for a 3B.

Not sure if I did anything differently to you, TheBacon.

TheBacon

10-03-2003, 09:13 PM

quite right dtraeger2k

I got my stats from the overall suburb profile at http://www2.reiwa.com/content-suburb-detail.cfm?StatsID=13

The page i've linked to says mean rent = 132/wk. I cant explain why this is so low when rent for a 2br house (as you pointed out) is 150.....

Thanks for that, I'll delve a little deeper next time....

TheBacon

dtraeger2k

11-03-2003, 01:41 AM

I think the suburb profile avg rent figure is lower because it takes into account EVERYTHING. 1 bedroom units renting for $90 or so would pretty quickly bring the figure down.

When I did the search i specified 2 or 3 bedroom Houses, to get those figures i posted.

Big Pete

14-03-2003, 12:07 AM

On the subject of where to invest .. has anyone considered holiday parks... initially as a rental business .. but long term potential as packetsof land for developement eg. Donnybrook

dtraeger2k

15-03-2003, 03:52 PM

I think from a development perspective you'd have to consider how many ppl actually move to country areas (such as donnybrook) from the city.

Tho saying that Lancelin, Guilderton and Busselton have some feasibility tho, because I know a few ppl who have properties in those areas.

yadreamin

15-09-2006, 01:14 AM

From the Dark and Dusty
Thought l would do a search on Mandurah and Perth to see what the SS forum was saying way back then and this is the oldest l could find on Mandurah and Perth.Its quite a hoot reading through the different opinions.
Although it is nothing like the thread "Rocky the next big thing" where there seem to be a lot more confidence conveyed in the posts.This thread does not read as convincing.
Ahhh hindsight hey?
Some of the developments come across as speculation. ie Rail line south , freeway to Mandurah, Rockingham beach development.By the way these developments/improvements have all happened now.Those small lots talked about in Mandurah , well they have got smaller and more expensive.And no it didnt slow down the growth.
Wonder how many bought in 2002 2003 that were actual forum members.Those that did buy in those outer areas woulld have done very very well by now.
enjoy the read cheers yadreamin

redwing

15-09-2006, 09:16 AM

Eden Hill median price $135k median rent $170/wk
Bassendean price $175k, rent $132/wk
Bayswater price $207k, rent $165/wk
Lockridge price $115k, rent $122/wk
Morley price $182k, rent $162/wk

TheBacon

Is this for real :eek:

I'd be 'very' surprised if you could find anything remotely around those prices in those areas nowadays..wonder what the latest prices are :D

Some Great CG had by Perth Investors

We have IP's in Morley and Kiara (near Morley/Eden Hill/Lockridge) ..nice to look back

PS- I think Ausprop's group is doing something in Basso' at the moment aren't they?

Interesting read Yadreamin

topcropper

15-09-2006, 10:03 AM

Perth's growth hasn't been anywhere like that experienced on the eastern seaboard. Take your own position on what that means. Some pundits say it means we have missed out, others say our turn is coming, others say we will not experience a 'correction' - for me I am still buying if the numbers add up.
f.f

Nice thread. Very interesting too.

What about these comments from f.f ? Hope he made a million dollars.

See ya's.

AUSPROP.

15-09-2006, 12:43 PM

it's Ashfield redwing.. and yes those prices wouldn't even pay for the land component!

gooram

15-09-2006, 03:29 PM

What are you doing in Ashfield AUSPROP? I live in Bayswater on the Bayswater/Ashfield border, I'd love to check out what you're doing. There's been a lot of talk about "cleaning up" Ashfield by gentrification, haven't seen alot of evidence yet, but there are some renovations going on, the Ashfield tavern is gone, and the river end has always been nice.
Prices have soared, but the quality of homes is still sub-par... big blocks though.

MichaelWhyte

15-09-2006, 04:12 PM

Hi guys,

For those interested, here's a bit of an HIA outlook on WA that I posted on InvestEd and am too lazy to transpose. :)

http://www.invested.com.au/forums/9814-post12.html

Cheers,
Michael.

AUSPROP.

15-09-2006, 08:41 PM

Hi gooram - we are marketing the ashfield tavern. huge amount of interest to date. It will take the area forward and achieve the position it rightfully deserves as a near city riverside suburb.

yadreamin

15-09-2006, 10:52 PM

Ausprop l quess if you put you makerting stratergy for Ashfield here on the forum it would be advertising your business.
Something no one has done on here before:rolleyes:
l have checked out your website but it really doent give much info at all so l might make the phone call nest week to see what Mega Property are all about.
So now that on the main news in WA they have anounced the market has stopped/turned we should look forward to many months of doom and gloom media reports;)
cheers yadreamin

gooram

16-09-2006, 08:18 PM

Hi gooram - we are marketing the ashfield tavern. huge amount of interest to date. It will take the area forward and achieve the position it rightfully deserves as a near city riverside suburb.

Yes I hope so.

There is still the light industrial area towards guildford rd that will hold it back a little. There is some new industrial/commercial properties being built on river rd so I don't think the businesses will make way for residential any time soon. That remote control car track is no fun on a sunday morning either :) Just don't have any home opens on a sunday.

BTW are you just selling the land or are you building and selling houses?

Bulldog

17-09-2006, 07:54 AM

redwing

17-09-2006, 09:29 AM

Hi gooram - we are marketing the ashfield tavern. huge amount of interest to date. It will take the area forward and achieve the position it rightfully deserves as a near city riverside suburb.

From memory the Council and DHW (?)are also trying to reduce the number of homeswest houses in the area back to a more normal 9%.

There are some nice properties *popping* up around the old Ashfield Tavern area as well, it'll be nice to see this area change and grow.

TheBacon

20-09-2006, 11:12 PM

Is this for real :eek:

Yep - these prices were for real. Most have doubled at least, some closer to tripled.

:)

TheBacon

redwing

22-09-2006, 11:08 PM

Yep - these prices were for real. Most have doubled at least, some closer to tripled.

:)

TheBacon

Great Isn't it :D

Looking forward to getting my WA IP's revalued

RedWing

dtraeger2k

23-09-2006, 07:21 PM

Yep - these prices were for real. Most have doubled at least, some closer to tripled.

:)

TheBacon

The creation of this thread was one of my very first posts on this forum, back in Feb 2003. I ended buying in one of ths suburbs asked about, but I get the feeling that throwing a dart at a map wouldnt have yielded much different results in Perth over the last 2.5 years.

Lacasa

26-09-2006, 11:09 PM

Some local news that will keep Perth properties bubling along!...

Wesfarmers Ltd will invest up to $138 million to construct a liquefied natural gas (LNG) plant, distribution infrastructure and two remote power stations in Western Australia.

The 175-tonne-per-day LNG plant is to be built at Wesfarmers LPG's existing site in Kwinana by Linde (Australia) Pty Ltd with construction expected to begin in November.

The diversified industrial company said it expected the project would contribute to divisional earnings in 2008/09.

Wesfarmers Energy managing director Tim Bult said a large proportion of the plant's future LNG production had been contracted for remote power generation to AngloGold Ashanti Ltd's Sunrise Dam and Barrick's Darlot gold mines and to West Australian-based heavy-duty vehicle customers.

TheBacon

28-09-2006, 12:50 AM

Thats good news for the Kwinana area. However t really is small change compared to the BILLIONS currently being spent, and about to be spent by the big mining companies in the northwest. The scale and budget blows my mind. Whilst the 'boom' may end, there is still a lot of money left to be made in the 'normal' everyday work that will follow.

Good to see more gas being used or enery supply though.

TB

cabo wabo

04-10-2006, 05:29 PM

Kwinana has slowed considerably since the last rate hike as investors see Rockingham to be "better value" for money at the moment and believe Kwinana has had its run. Listing in the area have increased considerably.

Rockingham is a nice place. When i was teenager i used to do a lot of skin diving etc around the islands off point peron there in Rockingham. Its very scenic and tranquil. Good reefs accessible from the beach.

I've a property in Kwinana (Orelia) and believe the area will pick up again soon, especially once the rail line comes online. The LNG plant won't hurt matters either. Kwinana is just too close to perth for it not to perform well compared to other semi coastal suburbs.

Also, have just recently bought in Kenwick. It was toss up between Kenwick, maddington and Gosnells. Eventually Kenwick won out as its the closest to the Roe Hwy and Perth, is on the Perth side of the Canning River ( unlike gosnells) and an estate agent who i've been speaking to reckons Kenwick has a noticeably higher PPOR proportion than either Gosnells or Maddington.

There are some realy cool big blocks in the back of Beckenham too (other side of Roe Hwy to kenwick). Awesome blocks.... not sure of the zoning though...

If ur looking for a nice big house, close to the river, with good views and fantastic location regarding infrastructure and transport still for under $1M then u can't go past Mount Pleasant. I'd like to buy there but still can't afford it.. DOH!

Upper middle of the market - Winthrop is a winner. Young enough to be depreciated, late 80's. Although too expensive again for me, i'd say it wins hands down "value for Money" over surrounding older areas like Booragoon.

Westfield is another goodn. Better than Armadale i reckon for sure. Better class of resident, better street scape, closer to Perth, and still cheap like armadale.

Don't know much regarding the north of the river property market other than Ellenbrook is really coming into its own these days. Really maturing.