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The thought had crossed my mind before, Westie. But no guts to go down that route for now, as I don't even know how to do proper/thorough calculation for a straightforward buy...let along building something and making sure it is profitable :D But it is intriguing that I could build something...

The locals would know I don't belong in a split second. Haha :p:D

Current median on REIWA site for Vic Park is 690k, growth 1.8% in the last 12 mths. In Dec it was $697.5k, 4.1% growth. Most of the neighbouring suburbs have higher medians. You're probably right that Vic Park can go further.

Thanks Rixter :) Had a quick look at Cannington. It is more affordable but lots of 3x2 villas. What are your tips to get the optimal IP in a suburb like this? Will view a few to have a better feel of the area (from an IP point of view...instead of shopping :D )

Thanks THEHEATH :) It is pricey in Vic Park, from my quick look on RE.com. Sigh. Will check out Carlisle as well, to see if there's any potential for my budget. Crazy that $500k seems like a small budget when I read of $300k budgets in Brisbane :(

Thanks, Hematite, for the Rivervale info. If villa prices continue to slide, perhaps it might be viable. Current median on REIWA is $613,600 with last 12 months growth of 7.6% Will expand search to blocks of land. Viewed 80 St Kilda but the house was too nasty to help with holding costs...

Thanks Dave. Should hv gone Forresfield, eh? :p Where would u look if you were to buy anything in Perth? Will ask you about Adelaide once I get IP1 done and dusted :D

Eeks! Not good :( Next IP perhaps in 2 yrs time. What areas would you recommend for CG? Was also looking at the southern suburbs like Wilson, Parkwood, Riverton and Willetton. The Rossmoyne and Willetton school zone houses are quite pricey. $500k budget can probably get a 3x1 mostly older villas.

We are considering getting our first IP in these areas, being close to city, airport and new stadium. With a Buy & Hold strategy and $500k budget, it looks like we can only afford a 3x2 villa. Yield is not exciting. So hoping that CG will make this a worthwhile venture that will allow us to...