Buying an IP in Perth

[Chaplin]

Been reading this forum for a while as part of my research into buying a second IP in Perth but first time I have posted...

Bought our first IP in Perth this time last year and keen to go again. At this stage, strategy is to buy and retain for capital growth. We have up to $500,000 to spend, house is preferable but open to options.

What are people's thoughts on some suburbs in Perth for good capital growth? I have been looking at a variety of suburbs north and south of the river but given the current heat of the Perth market I am wondering whether it would be better to sit and wait for the market to stabilise a little, not one to panic buy!!

Cheers in advance

 

[b7277]

I am a newbie, but from what i gathered so far, it is better t invest in Sydney or brisbane.. is that an option for you.

Been reading this forum for a while as part of my research into buying a second IP in Perth but first time I have posted...

Bought our first IP in Perth this time last year and keen to go again. At this stage, strategy is to buy and retain for capital growth. We have up to $500,000 to spend, house is preferable but open to options.

What are people's thoughts on some suburbs in Perth for good capital growth? I have been looking at a variety of suburbs north and south of the river but given the current heat of the Perth market I am wondering whether it would be better to sit and wait for the market to stabilise a little, not one to panic buy!!

Cheers in advance

 

[Aaron Sice]

Momentum Wealth are securing some pretty good deals on devvy sites at the moment - and that includes things like strategic purchases for long-term value-adds.

Might be worth giving them a call.

 

[westminster]

Been reading this forum for a while as part of my research into buying a second IP in Perth but first time I have posted...

Bought our first IP in Perth this time last year and keen to go again. At this stage, strategy is to buy and retain for capital growth. We have up to $500,000 to spend, house is preferable but open to options.

What are people's thoughts on some suburbs in Perth for good capital growth? I have been looking at a variety of suburbs north and south of the river but given the current heat of the Perth market I am wondering whether it would be better to sit and wait for the market to stabilise a little, not one to panic buy!!

Cheers in advance

Do not panic buy. Sit tight, do you home work and when confident strike.

I would look along the train corridor or along the coast (but not too far) and as close to the city as possible - less than 15km would be ideal but if close to to train corridors then more distance is ok.

 

[HD_ACE]

Momentum Wealth are securing some pretty good deals on devvy sites at the moment - and that includes things like strategic purchases for long-term value-adds.

Might be worth giving them a call.

^ what aaron said.

Still good oportunities in perth.

Cheers

 

[one world]

I have been looking at a variety of suburbs north and south of the river but given the current heat of the Perth market I am wondering whether it would be better to sit and wait for the market to stabilise a little, not one to panic buy!!

Wise move. Much of Perth has gotten pretty expensive. Unless you are buying the cheapest decile of Perth property, you could get hurt if you pay oo much. Definitely better value elsewhere, especially in the unfashionable parts of Melbourne

 

[Rixter]

At this stage, strategy is to buy and retain for capital growth.

What time frame have you allocated for your strategy?

 

[Chaplin]

Thanks for the responses! I am a born and raised Perth-ite hence why I have been looking here but am thinking that I might need consider other capital cities. I am really unsure where to start looking in other cities so any suggestions would be much welcome!

Thanks for the tip on Momentum Wealth, I will have a look.

In terms of strategy, we are looking longer term, a good few years at least. Our first IP is a worse house on the best street situation in a suburb about 6km north of Perth. We plan to keep this one in the portfolio for a while. Ideally, the second one would have development potential if we decided to pursue this down the line but the primary objective would be capital growth.

Thanks again!