Butler - now on the investment map
- Thread starter sash
- Start date
Trouble is you don't get much house for less than $450k and it will require work. Had a look...the ones which are cheap are subdivided. Reasonable house is about 490k.
Butler, Alkimos....you get brand spanking new house built for $420k. The 70k difference plus reno costs is driving these decisions.
Butler, Alkimos....you get brand spanking new house built for $420k. The 70k difference plus reno costs is driving these decisions.
Ja dast ist the problem....ma unlgish is noot goot.
Lets' agree to embrace our differences and sing Koombaya...much prefer this...rather then arguing!
I still would like to know a bit more of what you are doing...you the usual stuff what you have, strategies...that sort of stuff.
+1. Thanks Sash for sharing your endeavors they are of interest and help to me. Sometimes opening too much to one's strategy can be misunderstood as it is not someone elses. However, I always like to be open minded to information and then make my own decisions so I do not understand why some need to score points (perhaps some of you were strong debaters????
) Also, I noticed over time demographics can change, or the worst suburbs considered by some to become good performers.
I amazes me how recently I saw Wynnum West in QLD portrayed on TV as one of the worst suburbs to live in. I hold an IP there for a while now, was built in 2000 for about $180K had then $230 rent. Since then it had more than doubled in value, rents are truly positive now, and I really have not had any issues with that property in about 14 years time. I would consider it a good investment, but if I even listened to one of my family members, their opinion of how bad it was, I would have probably missed out on that investment and its growth.
So IMHO, it's always good to be open minded to ALL available information but to make own research and thus final decision.
Keep on sharing and don't get upset......Best of Luck!
MIW
Not a upset at all...do agree with being open minded.
I will keep sharing...as I said the PMs are encouraging also....
Agree about demographics changing....for example places like Ponds, Glenwood and Stanhope Gardens have moved up the tree. These days they are considered much better suburbs than the Bankstown-Canterbury areas even though they are further out.
Also look ar Double Bay in Sydney..it used to be prestige suburb but lost its way. However, some good news it is reviving again - new cafes, shops and old Ritx will open as the new Intercontinental. Also one of the largest Woolies will open and so will a new Cinemas.
Not a upset at all...do agree with being open minded.
I will keep sharing...as I said the PMs are encouraging also....
Agree about demographics changing....for example places like Ponds, Glenwood and Stanhope Gardens have moved up the tree. These days they are considered much better suburbs than the Bankstown-Canterbury areas even though they are further out.
Also look ar Double Bay in Sydney..it used to be prestige suburb but lost its way. However, some good news it is reviving again - new cafes, shops and old Ritx will open as the new Intercontinental. Also one of the largest Woolies will open and so will a new Cinemas.
+1. Thanks Sash for sharing your endeavors they are of interest and help to me. Sometimes opening too much to one's strategy can be misunderstood as it is not someone elses. However, I always like to be open minded to information and then make my own decisions so I do not understand why some need to score points (perhaps some of you were strong debaters????
Also, I noticed over time demographics can change, or the worst suburbs considered by some to become good performers.
I amazes me how recently I saw Wynnum West in QLD portrayed on TV as one of the worst suburbs to live in. I hold an IP there for a while now, was built in 2000 for about $180K had then $230 rent. Since then it had more than doubled in value, rents are truly positive now, and I really have not had any issues with that property in about 14 years time. I would consider it a good investment, but if I even listened to one of my family members, their opinion of how bad it was, I would have probably missed out on that investment and its growth.
So IMHO, it's always good to be open minded to ALL available information but to make own research and thus final decision.
Keep on sharing and don't get upset......Best of Luck!
This is a really good point actually. There are plenty of properties that have quadrupled in value since 2000 but if the choice was between buying an IP and not buying one, then buying one was the right call to make - pretty much anywhere in Australia at the time. After that, we just want to make sure we buy the IP that grows its cotton socks off! And gives us some decent cashflow while we wait... which is where the art and science of investing comes in and where this forum is invaluable in both suggesting, comparing and testing different options.
BTW the purpose of my posts here is not to score points or detract from sash's considerable and laudable successes. Just to point out to those looking on that there are both advantages and disadvantages to this strategy if a long term buy and hold is considered. Just be aware of them and invest for the right reasons.
So where do you see the growth coming from? At 80K there isn't enough money in it for the risk IMO in 5 years when those new houses are out of date, cracking due to being slapped together and sitting on sand dunes.
The growth driving, latest and greatest cinema room loving, family's will be onto the next new flash Sub..... and the demographics of Butler will slide downwards ....... Drive through Mirrabooka then onto Maragraoo then Alexander heights then further north to Madely... Darch and Landsdale.... Its will be like you going forward in time 20 years through Butler and the yet to be built surrounding Subs
All just MO of course...
11 years ago - 2003. I'm dredging my memory banks now but I would say you would have got a place needing renos near the back of Scabs at block value for around that price but you would have got a big (probably quarter acre / subdividable) block. At the time, I recall the whole of Innaloo was getting subdivided by private developers and the blocks were cheaper than $300k. We bought a triplex block (and 2x1 PPOR) in Nollamara for circa $170k around then - and sold it for $515k less than five years later. But gee it was a $#%^box to live in!
I suggest not looking into the value of a subdividable quarter acre block in Scabs right now. It would bring tears to your eyes...
Yes I agree, I actually looked at Double Bay and Vaucluse (more for lifestyle in retirement not from purely investing point of view) and now have switched to Northern beaches. Gee, did I get a blow, cannot buy anything there below $1.1m even old 2 Bed! I just cannot bring myself to buy a unit that I would like to live in later (I have never lived in one and I do like my total control and privacy).
I heard also that perhaps past Palm Beach, the transport may be a go ahead in the future so there would be a good buy (value for money) but who knows? If I was still waiting in Parramatta for the Chatswood link, that may take forever, right?
I too settled on two IPs in QLD, as I could not justify SYD prices, but with large land so potential for future development. Time will tell though.
As for the lifestyle option I like something old, but stand alone, so in 10-14 years time I could add value there if I wanted to live there (or the kids).
Question.....what could you have bought for in Mirrabooks, Marangaroo, Alexander Heights, Madeley, Darch and Landsvale?
About 110-130k? Correct.....what are they worth now...about 400-600k...correct (exception would be Mirrabooka).
Is that about a 400% gain?? That is 7% per annum..correct?
So the 450k Butler product...lets say grows at 5% (under performs market)....will be worth about $1.45m...correct??
About 110-130k? Correct.....what are they worth now...about 400-600k...correct (exception would be Mirrabooka).
Is that about a 400% gain?? That is 7% per annum..correct?
So the 450k Butler product...lets say grows at 5% (under performs market)....will be worth about $1.45m...correct??
I wouldn't dare! Already looked at what I could buy in Scarbs if I sold my house and bought for the same amount of money. Certainly not much and on half as much land. Ouch!...I must admit though, it's been a comfortable house to live in.I suggest not looking into the value of a subdividable quarter acre block in Scabs right now. It would bring tears to your eyes...
Perth as a whole grew over the last decade...... the same drivers will not be there in the next.... plus i think your numbers are a but exaggerated lol
hhhmmmm butler at 1.45m i hope your right
Yes...I got the same response when I bought a 2 brm in suburb called Meadowbank in Sydney. I bought it in 1994 for 90k.....who would have thought it would be worth $450k today...another one bought in 2002 in Campsie in Sydney for $163k.....was told it was a terrible area....today it is worth $465k for 2 brm unit.
Even if we tracked at 3% ...a $450k property in Butler would be worth
$825k...over 20 yrs.
A friend of mine built a H&L in Clarkson for 110k in 1997....this same property is worth aobut $375k
Even if we tracked at 3% ...a $450k property in Butler would be worth
$825k...over 20 yrs.
A friend of mine built a H&L in Clarkson for 110k in 1997....this same property is worth aobut $375k
butler
im a local to the area. went through heaps of numbers for buying in butler/alkimos vs. buying in quinns.
ended up buying in quinns, mainly due to it being oceanside suburb with large blocks of land and in between two suburbs (mindarie / jindalee) which have a lot of expensive houses.
It came down $/sqm and future demand/competition.
Butler and surrounding areas are in excess of $900-1000sqm... which is ridiculous. Secondly, there are thousands and thousands of acres which sits to the north of the area which is all earmarked for development.. why would someone pay huge $$ for a house when they can build a new one cheaper in the next suburb. There are huge amounts of state housing throughout butler and surrounding suburbs.
Quinns had good $/sqm ( and i think it still does,). i paid $635/sqm for a block of land situated on a hill with good ocean views, a pre-approved battle-axe subdivision, and have the possible opportunity with the R40/R60 re-zoning over the next few years. The house is a 94 built large 3x2x2.
I guess if you build in butler.. flip it and make 20%, then its a successful investment, but if your talking longer term investment... butler really doesn't stack up.
im a local to the area. went through heaps of numbers for buying in butler/alkimos vs. buying in quinns.
ended up buying in quinns, mainly due to it being oceanside suburb with large blocks of land and in between two suburbs (mindarie / jindalee) which have a lot of expensive houses.
It came down $/sqm and future demand/competition.
Butler and surrounding areas are in excess of $900-1000sqm... which is ridiculous. Secondly, there are thousands and thousands of acres which sits to the north of the area which is all earmarked for development.. why would someone pay huge $$ for a house when they can build a new one cheaper in the next suburb. There are huge amounts of state housing throughout butler and surrounding suburbs.
Quinns had good $/sqm ( and i think it still does,). i paid $635/sqm for a block of land situated on a hill with good ocean views, a pre-approved battle-axe subdivision, and have the possible opportunity with the R40/R60 re-zoning over the next few years. The house is a 94 built large 3x2x2.
I guess if you build in butler.. flip it and make 20%, then its a successful investment, but if your talking longer term investment... butler really doesn't stack up.
I purchased in Clarkson in late 1999, the property was a PPoR for a short time and then a long term rental as I moved into South Perth rent free
At that stage I was working in Northbridge and with only one lane from Joondalup to Clarkson it was a huge drag on time getting to and from. The road increased to 2 lanes each way, empty buildings in Joondalup stared to fill up, the train line was pushed through to Clarkson and I was shocked the last time I drove out that way with the expansion
At that stage I was working in Northbridge and with only one lane from Joondalup to Clarkson it was a huge drag on time getting to and from. The road increased to 2 lanes each way, empty buildings in Joondalup stared to fill up, the train line was pushed through to Clarkson and I was shocked the last time I drove out that way with the expansion
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Here is my prediction for 2020 for Butler and surrounds...
1. Further road improvements.
2. Butler/Alkimos becomes a Commercial centre to rival Joondalup
3. More shopping centre open
4. 1 additional Rail stations opens at Alkimos
1. Further road improvements.
2. Butler/Alkimos becomes a Commercial centre to rival Joondalup
3. More shopping centre open
4. 1 additional Rail stations opens at Alkimos
As long as 20% profit is after paying agents selling fees and CGT???
I went to Perth Property Expo on Saturday. At Margaret Lomas's session the City Of Wanneroo was one of her Hotspots for growth above average in the coming year.Based on the new infrastructure I suspect. I am seeing further price growth in the northern coastal suburbs of Wanneroo (Butler, Alkimos, Eglinton)in the last 2 months.If you want to buy land be prepared to go on a waiting list even for land not titled for another 6 months. Rental yields are still around 6-7% which is also attracting a lot of investors. Just my observations and update for anyone interested in the area..
...and they are not really making anymore land near the Ocean....in 10 years...some in this forum will be saying if only I had bought in Butler/Alkimos when thry were giving it away....
