We didn't pay the 400 back then we backed out. We picked ours up last year for 267, 4x2 ducted air conditioning double garage etc and getting 330 per week in rent and a sizeable depreciation benefit this year.
We are going to hold for some time I am not sure I would be into buying development...
Ours was break lease too, we are now into week 9 without a tenant and we believe we have also 'met the market'.
I think the fact that we are having this conversation on this thread speaks a lot to the stage of the market in Perth, pretty dire. We are going to use the vacancy as an opportunity...
I bought a 4 bedroom 2 bathroom double garage property in munno para west as an investment in October last year and paid under 270. I lived in Andrews Farm a few years ago (worked on the Northern Expressway) and we had signed a contract to build in Andrews Farm back in the hay day when a house...
I have been looking online for a spreadsheet/workbook to calculate my likely return for this year, as my company's draconian IT policy prevents me from installing an earlier version of etax was looking for something in spreadsheet format.
I agree there are lies, damned lies and statistics. Shadow loves them.
But I agree Perth is stagnant if now backward for the foreseeable future.
Recession is in the post and Sydney prices will be smashed.
we moved to shellharbour around 12 months ago. we love the area but rent here. shellharbour / shell cove is expensive to buy in my view, Warilla and Lake Illawarra present a reasonable opportunity in my view (I generally don't invest in property >$500k).