Balga WA ?
- Thread starter jaycee
- Start date
Hi Jaycee,
I have 2 IP's in Balga...so may be a bit biased
For its proximity to the CBD (10km), and its R40 zoning, Balga has always appeared relatively good value to me.
Prices have eased by 10% or so over the last year, but this just makes it look even more affordable.
eg, 3 x 1 older style house on 728sqm triplex block for 320-330K rent for $320pw. So the holding yield is decent and the land value is strong for a suburb so close to the city...none of this Calista stuff 32km out etc...
Do your own research, compare to other suburbs, check the rental values, have a look at some completed triplex devies etc etc then make your own mind up!
If you have any specific questions about specific streets in Balga let me know...like all suburbs there are better areas and there are some dodgy areas (esp. west of the high school, towards Mirrabooka ave)
Cheers, Chris
I have 2 IP's in Balga...so may be a bit biased
For its proximity to the CBD (10km), and its R40 zoning, Balga has always appeared relatively good value to me.
Prices have eased by 10% or so over the last year, but this just makes it look even more affordable.
eg, 3 x 1 older style house on 728sqm triplex block for 320-330K rent for $320pw. So the holding yield is decent and the land value is strong for a suburb so close to the city...none of this Calista stuff 32km out etc...
Do your own research, compare to other suburbs, check the rental values, have a look at some completed triplex devies etc etc then make your own mind up!
If you have any specific questions about specific streets in Balga let me know...like all suburbs there are better areas and there are some dodgy areas (esp. west of the high school, towards Mirrabooka ave)
Cheers, Chris
Has a good bottle shop! -> First Dan Murphy's in WA (as I'm ex victorian this is good news).
Buy in Westminster...a much better name...lol
Seriously though, I would avoid Balga due to the stigma attached to the suburb. I know renter friends of mine avoid it, and I would expect future CG gains to be lower than other surrounding suburbs.
Buy in Westminster...a much better name...lol
Seriously though, I would avoid Balga due to the stigma attached to the suburb. I know renter friends of mine avoid it, and I would expect future CG gains to be lower than other surrounding suburbs.
At the risk of being seen as a one-eyed supporter...
Westmintser is also a potentially good buy (they used to be the same suburb, but WM was split off and renamed only 10yrs ago), IF...you can get the same deal particulars.
I wouldn't pay more than a 5% premium for WM over Balga...during the boom time 05-06, WM props were going for 10%+ more than Balga, now they are very similar.
Actually, I think I just convinced myself to buy in Westminster next!! haha
I have had exactly 2 days vacancy across 2 IP's since early 2006. There is only stigma from the older locals, younger ppl and interstate migrants think nothing of a suburb name.
Westmintser is also a potentially good buy (they used to be the same suburb, but WM was split off and renamed only 10yrs ago), IF...you can get the same deal particulars.
I wouldn't pay more than a 5% premium for WM over Balga...during the boom time 05-06, WM props were going for 10%+ more than Balga, now they are very similar.
Actually, I think I just convinced myself to buy in Westminster next!!
hahaI have had exactly 2 days vacancy across 2 IP's since early 2006. There is only stigma from the older locals, younger ppl and interstate migrants think nothing of a suburb name.
728sqm triplex - all 100sqm, all DG.
I did my apprenticeship and a painter with State Housing Commission in WA in the mid 1970's. I still remember the housing commission offering to sell houses to tenants for around $5-$6,000 in Balga, Girrawheen, Willagee type area's . .. Ahhh, .. the good old day's .... LOL
I also remember my folks buying a double brick 3 bed house in Bedford near Beaufort street, .. fully furnished for $12,000 around the same time.
I also remember my folks buying a double brick 3 bed house in Bedford near Beaufort street, .. fully furnished for $12,000 around the same time.
At the risk of being seen as a one-eyed supporter...
Westmintser is also a potentially good buy (they used to be the same suburb, but WM was split off and renamed only 10yrs ago), IF...you can get the same deal particulars.
I wouldn't pay more than a 5% premium for WM over Balga...during the boom time 05-06, WM props were going for 10%+ more than Balga, now they are very similar.
Actually, I think I just convinced myself to buy in Westminster next!!
I have had exactly 2 days vacancy across 2 IP's since early 2006. There is only stigma from the older locals, younger ppl and interstate migrants think nothing of a suburb name.
Thanks Chris...
MY quick searches on re.com showed little in Westminster compared to Balga (not including new villas/thouses etc, I mean the older properties on larger blocks). Thought the prices were a big higher, so wondered if that horse has already bolted so to speak....
I KNOW Balga's 'reputation'.. spent enough time living in Nollamara with friends on the other side of Mirrabooka Ave to understand what the area's like...
Despite stigmas though, guess I was hoping there was also opportunity of good growth in values... hmmm keep looking....
Was it Dianella that was a 'rough' suburb once and is now more upmarket.....? (seem to recall someone saying this)....but then again, when I lived in Perth...Duncraig was on the outer limits..... I'm outta touch with WA now I feel...lol
Some changes do happen.....Redfern I believe is undergoing a transformation due to it's proximity to the CBD of Syd.
I'm outta touch with WA now I feel...lolSome changes do happen.....Redfern I believe is undergoing a transformation due to it's proximity to the CBD of Syd.
Was it Dianella that was a 'rough' suburb once and is now more upmarket.....? (seem to recall someone saying this)....but then again, when I lived in Perth...Duncraig was on the outer limits.....
Some changes do happen.....Redfern I believe is undergoing a transformation due to it's proximity to the CBD of Syd.
Yeah, but I dont know if Dianella was ever a Balga or not..
Balga has seen a lot of developments already, as seen in other areas leadign up to it - joondana kicked it all off, then tuart hill, yokine, nollamara and the bit of balga closest to it which they renamed Westminster.. Balga saw a bit of a rise I remember during the boom, now we see those developed units etc for sale...
I'm not a Balga fan anymore than I am a fan of any suburb, just caught my eye as in my budget & wondered about future potential benefit of a triplex block - in comparison, I think I'd be looking at smaller blocks in other suburbs..
I like the way you're thinking with the land content, for a reasonable price. I'm also thinking a similar thing, maybe slightly further up in Padbury, Craigie, Beldon etc area.
They seem to have 800 sqm blocks for around $400K, so maybe a bit more expensive, but certainly doesn't have the stigma of Balga. They've also got houses that seem to be renting for $350 - $400 per week, so getting close to 5%.
My thoughts are that you buy them now and with 10-15 years when they rezone these areas R30 or R40, then the growth will be there.
I'm starting to think that 4 or 5 of these would be better than 4 or 5 townhouses / units and the rents don't seem that much different. Lock in a 5 year rate at 6%, or maybe a 10 year rate at 7%, and just wait for the land to appreciate.
Maybe get them cheaper after June 30, we'll see...
They seem to have 800 sqm blocks for around $400K, so maybe a bit more expensive, but certainly doesn't have the stigma of Balga. They've also got houses that seem to be renting for $350 - $400 per week, so getting close to 5%.
My thoughts are that you buy them now and with 10-15 years when they rezone these areas R30 or R40, then the growth will be there.
I'm starting to think that 4 or 5 of these would be better than 4 or 5 townhouses / units and the rents don't seem that much different. Lock in a 5 year rate at 6%, or maybe a 10 year rate at 7%, and just wait for the land to appreciate.
Maybe get them cheaper after June 30, we'll see...
I still like midland, cheaper with more govt redevelopment going on.
i have property there, so biased.
i have property there, so biased.
Hi Ausprop,
Appreciate the input.
Recenlty wondered about old Midland, but never heard anytign exciting over there..as I said, I'm particularly for/against anywhere, Balga included. One thing I did think though was that Balga is closer to the city....
Perhaps this is when I should start looking at say Balga & Midland in the links provided in that other thread... where was that again ?.....
Appreciate the input.
Recenlty wondered about old Midland, but never heard anytign exciting over there..as I said, I'm particularly for/against anywhere, Balga included. One thing I did think though was that Balga is closer to the city....
Perhaps this is when I should start looking at say Balga & Midland in the links provided in that other thread... where was that again ?.....
I think you would do far better to buy a villa in the nice area of Dianella or Yokine. But thats just my opinion. Dont like Balga at all!
It had a reputation for high crime in 2000's. I haven't heard much about it in past few years though.
I dont like it either, but it not just about what areas I like... it's about trying to find out if it's a good investment or not
Why do you think Dianella / Yokine would do "far better" than Balga ?
I thought most of the re developing in those has been done, where as Balga sees to still be going through it, so I wondered if that might continue....
if it was as simple as what my preferences in suburbs were, I'd be talking about Mosman Pak / Cottesloe & Dalkeith
I just think they are better areas. Its a personal thing.
I've been looking around Carlisle where you can still get development sized blocks for less than 450k. Again not a desirable place right now but given proximity to the city it's bound to come good. Especially if you compare it to surrounding suburbs like Vic Park, Lathlain, Rivervale, it seems quite undervalued.
My only concern with these areas, given their "status", if prices do go south over the next few years, which is quite possible given unemployment predictions, the prices in these areas won't hold up very well.
My only concern with these areas, given their "status", if prices do go south over the next few years, which is quite possible given unemployment predictions, the prices in these areas won't hold up very well.
