Any thoughts on Morley or Nollamara as a place to buy an IP?

G

godette

Hi guys, sorry to be starting sooo many threads on where to buy. I just truly need some advice. Having told the investors club rep that I wasn't interested in buying over in eastern states, she said there was one available in Morley.

I lived in Morley about 19 years ago and it didn't strike me as anything special. I must go visit it again, but just wondering if anyone in this forum has any information about future development in the area or if anyone has invested there with any success?

Any thoughts about buying a slightly older property in Nollamara (about 11 years old)?
 
I got told Morley, Galleria side of Tonkin was better than the surrounding say Eden Hill etc when I asked someone what they thought. He sugested morley CG has been historically a bit better than the surrounds.

But how either Nollamara/Morley look to perform in the future, I don't know..
 
My yonger sister owned in Nollamara for many years and then sold and graduated to Morley two years ago. She only had to give up her membership of the National Confederation of Registered Bogans to do it. The influx of drug-dealers was making Nollamara less child-safe by the day in her opinion. I'd stick with Morley if I were you.
 
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INVSTOR said:
Have you done any research yourself on the area's you are thinking of purchasing in?
http://www.coventrysquare.com.au/
http://www.perthnow.com.au/real-est...ets-morley-abuzz/story-e6frg3ol-1225886303634
http://www.bayswater.wa.gov.au/3/330/1/morley_city_centre_masterplan.pm
Click to expand...
Wow that's great! That's the thing - I want to do my own research but I haven't the foggiest idea where to start. Thanks for pointing me in the right direction! How do you all know where to find this info? I don't even know what to type into the google search bar to bring it up
 
typing 'morley' into google is a start. Knowing which council it's in and researching there website is imperative. Find out as much as you can about the suburb. I really love reading and researching. I've probably got too much time on my hands. :D
 
im a big fan of morley, bought there in late 2009. my view is that it is still a very good prospect for long term CG but i no longer find the little duplex/triplex deals to be as enticing as i reckon you'd make 15% at most unless you build. in some cases there are pretty good margins from building a few villas though

the problem is that prices for duplex blocks have gone up significantly in the last 18 months but finished prices have not gone up nearly as much although i think they are on their way to catching up

anyway back to the question, morley is only 10km out of the city, has a major bus port (no train though), large shopping centre with surrounding shops too, large markets to open in september (coventry, they claim it is going to be like queen victoria, i think they're dreaming), tonkin hwy is nearby so easy access to malaga etc where a lot of people work

prices are still cheap, eg you can get 2x1 duplexes on 500sqm for under 300k still, 3x1 front strata homes from around 370k and new homes from 450k. new block prices are a bit patchy.

incidentally, ive got a block approved for 2 green title streetfront lots that ill be selling soon, anyone interested? :D

re nollamara - i dont have heaps of experience there but it strikes me as a place where the ship has somewhat sailed. your options for investment are old homes on R40 728 sqm triplex blocks that will give a bad yield and not a great return if you develop or little 3x2 villas that unfortunately have HEAPS of competition when you sell due to the larg amount of development that has gone on. i'd be choosing morley over nollamara but that is just my opinion
 
Since the thread is about Perth, can I digress a bit and ask what you think of Bentley , as a place for IP? What is happening to this suburb and what is its future as an IP area. Are foreign student numbers still depressed at this time because of the high Aust. dollar? Will this suburb still give a good rental income and future capital growth, if the Oz dollar remain high and the foreignt student number remain low?
 
sanj said:
anyway back to the question, morley is only 10km out of the city, has a major bus port (no train though), large shopping centre with surrounding shops too, large markets to open in september (coventry, they claim it is going to be like queen victoria, i think they're dreaming), tonkin hwy is nearby so easy access to malaga etc where a lot of people work
Click to expand...

When Ellenbrook gets it trainline it should service Morley area also. I was talking to a politician a while back who told me this. It's not a matter of if, it's a matter of when! I have also seen some idea's of the Ellenbrook line meeting with the Ashfield station when it get's re-aligned.
 
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WesternRat said:
Ellenbrook, last I heard was it has been shelved for the time being

http://www.watoday.com.au/wa-news/ellenbrook-railway-on-the-line-20090409-a1ls.html
http://www.inmycommunity.com.au/news-and-views/local-news/Ellenbrook-too-small-for-train/7556017/
http://www.echonewspaper.com.au/newsInfo.asp?id=3746
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Yes, the trainline has been delayed. It was about a year ago I was told it would go ahead but not for a while. I'm thinking ten years away at a guess. (hopefully earlier though).
 
needtolearn said:
Since the thread is about Perth, can I digress a bit and ask what you think of Bentley , as a place for IP? What is happening to this suburb and what is its future as an IP area. Are foreign student numbers still depressed at this time because of the high Aust. dollar? Will this suburb still give a good rental income and future capital growth, if the Oz dollar remain high and the foreignt student number remain low?
Click to expand...

there was an article in the paper the other day about the Curtin Masterplan which is set to provide 25,000 additional houses around the campus for students and the like, which may have some impact on rental income given the massive increase in supply. food for thought
 
jaycee said:
10 years ??? Sounds like a long time to me.....
Click to expand...
I'm living in Algester, Brisbane Qld at the moment. My friend who lives here was really excited that they are thinking of bringing rail here. I found out through a real estate agent that was quite excited also that it is planned for 2050. Let's hope Perth is a little forward thinking than Bris!!! It could be longer. Still, it's only a twenty minute drive to the city in peak hour.
 
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