Balga Development sites

HD_ACE said:
I dismissed balga pretty quickly 12 months ago in favour of other suburbs.
Damn......
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Same. The reason I dismissed it because I knew developers were offloading stock from the last downturn and I thought the market would be flooded with units/villas. Not the case, they sold at a lower base but the new stock has continued to rise.
 
To me this growth in Balga (i believe Westminster sites have had similar growth) further proves the silliness in buying in Girrawheen at any stage in the last 6 months.

Similar capital growth has occurred here with the ability to develop immediately. alsom, these triplex lots are genuine single storey triplex lots and not like the 698 R40 sites in girrawheen.

i guess the risk is in the potential rezoning down to R30, is that still on the cards or just unfounded rumour?
 
sanj said:
To me this growth in Balga (i believe Westminster sites have had similar growth) further proves the silliness in buying in Girrawheen at any stage in the last 6 months.

Similar capital growth has occurred here with the ability to develop immediately. alsom, these triplex lots are genuine single storey triplex lots and not like the 698 R40 sites in girrawheen.

i guess the risk is in the potential rezoning down to R30, is that still on the cards or just unfounded rumour?
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Yeah it's terrible my property is positively geared despite the bank charging interest on 100% of the loan amount ( I used term deposit as security )

And my lot is R60 not all girrawheen lots are r40

Let's compare that to a studio or small 2 bedroom apartment in the inner city for twice the price

Yeh nah bro
 
tambourineman said:
Yeah it's terrible my property is positively geared despite the bank charging interest on 100% of the loan amount ( I used term deposit as security )

And my lot is R60 not all girrawheen lots are r40

Let's compare that to a studio or small 2 bedroom apartment in the inner city for twice the price

Yeh nah bro
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yoyu might be a rare exception to the rule, for most people there has been similar growth over the last 6 months in westminster, balga and girrawheen with it being more sustainable in the first 2 imo.

the prices in girrawheen are less sustainable simply due to the fact that you cant do anything with it for the next 2 years minimum, the moment the current mad hunt for devvy sites slows down i suspect girrawheen prices will taper off.

not sure what it has to do with the inner city btw, you obviously enjoy your tangents.
 
sanj said:
yoyu might be a rare exception to the rule, for most people there has been similar growth over the last 6 months in westminster, balga and girrawheen with it being more sustainable in the first 2 imo.

the prices in girrawheen are less sustainable simply due to the fact that you cant do anything with it for the next 2 years minimum, the moment the current mad hunt for devvy sites slows down i suspect girrawheen prices will taper off.

not sure what it has to do with the inner city btw, you obviously enjoy your tangents.
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Yes I enjoy a good niggle - my view is that buying inner city property (despite my comments above apartments are alright) but mostly the overprice cottage / terrace housing is a mistake - expensive and risky - cheap property that offers affordable rental opportunities with reasonable capital growth is the go. Just my take. Girrawheen has always been a **** area, don't deny it bit it was very cheap for where it is and will gentrify eventually.
 
tambourineman said:
Yes I enjoy a good niggle - my view is that buying inner city property (despite my comments above apartments are alright) but mostly the overprice cottage / terrace housing is a mistake - expensive and risky - cheap property that offers affordable rental opportunities with reasonable capital growth is the go. Just my take. Girrawheen has always been a **** area, don't deny it bit it was very cheap for where it is and will gentrify eventually.
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I have a foot in every camp:
- 3 villas in Westminster
- 4 villas in Gwelup
- 3 apartments in Highgate
- 1 cottage in Highate (to be 3 cottage/terraces)

I am amazed at some of the prices being achieved by the nicer high end townhouses. I wouldn't buy one individually myself for CG but I am happy to build them for the price that I can and get others to buy or rent :)

If I can build a terrace for $700k and have it be worth $900k plus then that is a decent profit of almost 30%

But it is not for everyone's risk profile or their budget. It's big balls and big budget projects.
 
tambourineman said:
Girrawheen has always been a **** area, don't deny it bit it was very cheap for where it is and will gentrify eventually.
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Yes and no, that has to be in context and in context, there is no reason why Girrawheen blocks should be more expensive than Balga or westminster per sqm when they havent been rezoned yet. im not comparing to inner city areas, im comparing it to suburbs in the nearby vicinity

dont take this personally, im not referring to your purchase specifically as there are always exceptions to every rule and i dont know what you bought.
 
sanj said:
To me this growth in Balga (i believe Westminster sites have had similar growth) further proves the silliness in buying in Girrawheen at any stage in the last 6 months.

Similar capital growth has occurred here with the ability to develop immediately. alsom, these triplex lots are genuine single storey triplex lots and not like the 698 R40 sites in girrawheen.

i guess the risk is in the potential rezoning down to R30, is that still on the cards or just unfounded rumour?
Click to expand...

Actually Westminster very small area is now almost on par with Nollamara and new villas much more expensive than Balga. Not sure where this is all going??
 
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