Balga WA ?

[Aaron Sice]

hey look if it's a long term thing then by all means - grab a multi-unit site if you can afford it. maybe even develop one by one....?

your strategy, your rules. i'm just saying, if you're looking to devvy a site that you bought 6 or 12m ago, then it ain't worth it.

 

[jaycee]

Thats why I was hoping some Perth people may have opinons on a 340k such site in Balga now... You know, buy & hold type of stuff, I'm wondering if balga might be a decent performer compared to what else is out there in the price range. Haven't looked south, armadale / gosnells, but you can probaly guess why, yep, I live north of the river, so got less idea / perception of their potential....

Im wondering whether to start trying to differentiate between properties (so far, about the same from the outside ) or investigate different suburbs..

 

[jaycee]

I'd been looking at Nollamara for a similar thing for the last few months. I swear it was about $380K for an old house on 786 sqm in Q1 this year, now it seems to be $420K?

I'm a big fan of "land banking" in this way, if you can afford the losses for the next 5 years or so...

The thing is.... losses seem to be par for the course, most of the new villas built on these triplex block were about the same to buy & rent as the old houses on 1/4 acre blocks... Where else would one look to in terms of types of properties to not incur these said losses and stil reap decent increase in value ?

 

[Aaron Sice]

grab a solid 18.1 x 40.23 block opposite a park, if you're looking to hold - if you CAN, make the park on the North side too.

sites like that ALWAYS do well - from a CG AND devvy POV.

 

[Tizzy]

What I can tell you about the Balga/ Nollamara even Girrawheen area re rental potential is that there are way more tenants looking for houses than there are houses available.

Having said that, there are a high number of people seeking those rentals who rely on a fixed Centrelink income, so if you want to rent to that market, you need to keep in mind there is a top limit to what they can pay.

Larger places ( 4 bed) still rent well, because there are two or three adults in some extended families who can cover the rent. Lots of new migrants looking. Good luck! I'd definately buy there because all the support services are in the area. If you find something on a bus route or walking distance to shops and/ or school you have it made.

 

[jaycee]

Thanks Tizzy & BlueCard !

Ok this w/e should be fun

 

[Aaron Sice]

YES TIZZY! get near a bus route!

have fun!

 

[INVSTOR]

Maybe these maps will help in the decision making process.


http://www.planning.wa.gov.au/Plans+and+policies/Public+comment/1927.aspx

http://www.planning.wa.gov.au/Plans+and+policies/Publications/1924.aspx

 

[boods99]

Maybe these maps will help in the decision making process.

http://www.planning.wa.gov.au/Plans+...ions/1924.aspx

Hi Invstor, links not working

Boods

 

[INVSTOR]

It should work now.

If not google: WAPC 2031 maps