Anyone else looking in Perth at the moment?
- Thread starter gooram
- Start date
Hi Aus
Got curious and had a look at Madora Bay, beachfront property, I think been on the market well over 8 months asking price $699K, at peak of our last boom would have fetched around $1M.
Cheers, MTR
Sounds like the one I looked at....with an old house on it. From memory its had a slight reno by the looks of it when I saw it 6 months ago.
sounds like my old family beachhouse. my parents sold it for $75k in the early 90s
that place has changed for the worse tho. it use to be a beautiful beach and a real get away, now the beach looks grey and decrepit and the joint is run down and it feels like a typical FHO suburb more than a beachside retreat. sad really.
Hi Rixter,
That's interesting, do you recall what it was selling for at that time?
At $699K cheap for beachfront, though will need deep pockets to hold.
Plans underway for Madora bay to become a regional beach I expect with the upgrade you could see growth down the track.
http://www.mandurah.wa.gov.au/counc...ndurahnorth/mandurah_north_structure_plan.pdf
Cheers, MTR
Looks interesting.
What is Madora Bay like?
What is Madora Bay like?
Hi accumulator
Madora Bay is located North of Mandurah.
http://www.mandurah.wa.gov.au/
MB is pretty much divided into two areas North Madora Bay which is the older pocket it has not yet been developed, with old beach shacks sitting on average of around 800 sqm2 lots. Many have holiday homes in this area. Very quiet area. Nice beach shacks will rent for $180-220 per night in peak periods only. I prefer old Madora Bay but that's possibly because we have a beach shack and have enjoyed the beach, fishing and good times with family and friends. Also has a great bike track.
New MB consists of new homes on smaller lots, generally quality homes, nice beaches. I think a reasonably well designed estate.
Mandurah was hammered when the boom peaked in 2006, still has not totally recovered. You may not necessarily get the best rent in Madora Bay but I think you have a good chance of growth down the track due to plans mentioned in previous post.
Check out all the suburbs in Mandurah, my guess is if you purchased a property now you will be getting in cheaply.
Cheers, MTR
Madora Bay is located North of Mandurah.
http://www.mandurah.wa.gov.au/
MB is pretty much divided into two areas North Madora Bay which is the older pocket it has not yet been developed, with old beach shacks sitting on average of around 800 sqm2 lots. Many have holiday homes in this area. Very quiet area. Nice beach shacks will rent for $180-220 per night in peak periods only. I prefer old Madora Bay but that's possibly because we have a beach shack and have enjoyed the beach, fishing and good times with family and friends. Also has a great bike track.
New MB consists of new homes on smaller lots, generally quality homes, nice beaches. I think a reasonably well designed estate.
Mandurah was hammered when the boom peaked in 2006, still has not totally recovered. You may not necessarily get the best rent in Madora Bay but I think you have a good chance of growth down the track due to plans mentioned in previous post.
Check out all the suburbs in Mandurah, my guess is if you purchased a property now you will be getting in cheaply.
Cheers, MTR
I'm also looking for my first IP at the moment
by the way, anyone has any comments on Alkimos?
Alkimos doesnt show up as a suburb according to REIWA......does it go by another name?
I guess its way out from city. Are you looking for CG or CF?
Mainly looking for CG and the moment. Any good recommendations?
If thats the case dont look there if its CG your chasing. The supply and demand ratio is not conducive for it in the short to mid terms for leveraging against to building your portfolio faster.
Look more towards the inner/middle metro ring where the area is land locked with no vacant land surrounding. Somewhere there is strong demand & limited supply.
By something good quality and well located close to transport, high employment areas, major shopping, schools, medical & recreation facilities.
I hope this helps.
if you're chasing CG then Rixter's formula is a proven recipe for success.
thanks for the advice guys
I was actually looking at suburbs about 10km radius from CBD, thinking anything nearer to the CBD will probably have more CG. However most of the price are way off my budget.
Am looking at around $350-370K mark with decent land size and i'm not sure if is okay to buy townhouses/villas instead of houses since they cost less and might be lucky to get something within my budget.
I was actually looking at suburbs about 10km radius from CBD, thinking anything nearer to the CBD will probably have more CG. However most of the price are way off my budget.
Am looking at around $350-370K mark with decent land size and i'm not sure if is okay to buy townhouses/villas instead of houses since they cost less and might be lucky to get something within my budget.
thanks for the advice guys
I was actually looking at suburbs about 10km radius from CBD, thinking anything nearer to the CBD will probably have more CG. However most of the price are way off my budget.
Am looking at around $350-370K mark with decent land size and i'm not sure if is okay to buy townhouses/villas instead of houses since they cost less and might be lucky to get something within my budget.
Invez...THIS may be of interest to you.
I hope it helps.
Thanks good advice.
I have noticed that Balga and Westminster are really doing well again, prices back to boom times. Also there is definate shortage of development sites and developers now advertising for sites. Holding costs will hurt but you certainly get CG.
Cheers, MTR
Hi Rhett and others,
I was wondering if you still stand by this list and if you would add/remove any now that we are further into 2010?
Whats the 5year outlook for mandurah IYO Ausprop? Id jump over 6%, if it were a stable 6. So many people burnt(own fault in some cases) by mandurah.
Its great to see some life back in there in Realestate terms.
