East Victoria Park, Wa

[Tyeger]

Hi guys,

I've been following the forum for quite some time so I'd like to start my first post by thanking you all for your insight to the property market (and a couple of laughs)

Just want to know if anyone reading this has a PPOR in east vic park south side of Berwick street? I've been reading some crime statistics and it seems outrageous to think there could be so many burglaries in such a beautiful area.

Some time over the next year ill be hunting for a Reno on a big block with the possibility of selling off the rear to create some growth. I'm not really chasing any info about future growth predictions etc, just want to see if anyone experiences the suburb first hand, day on day.


Cheers

Tyeger

 

[one world]

I once had a lovely house in EVP. Bought it in 1994 for $110k. Sold in 2006 for $460k. These days, it is worth around $650k.

There is plenty of crime in Perth - its always been there, especially in EVP and VP. We were burgled twice, it really upset the tenants. Fortunately it did not affect the area's capital gain prospects.

To the OP, if you are looking for cheapies where you can buy an old brick house on a large subdivisible block, you need look no further than Bayside Melbourne. Plenty of cheapies to be found for less than $300k. These neighbourhoods are a bit like EVP, with bogans everywhere. But don't let that put you off - the capacity for capital gain is not small.




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[Ausprop]

I once had a lovely (block value) house in EVP, bought it in 2000 for $152k and sold in 2002 for around $182k. Now worth around $700k. idiot! throw a 4x2 dream home on and they check in around the $1m mark. what would possess someone to pay a mill for such a crime ridden location I will never understand, however people love it. Personally, once you hit the $1m mark I would be looking over entry level western suburbs

 

[one world]

Thanks Austprop for sharing your story of the one that got away.

Despite the crime, EVP is pretty central, close to Curtin Uni etc. These days, however, its far from cheap and unlikely to double any time in the next 20 years. All the low hanging fruit has gone.

Personally, once you hit the $1m mark I would be looking over entry level western suburbs

For a million bucks you could buy a lovely brand NEW house in Beverly Hills. http://www.redfin.com/CA/Beverly-Hills/9838-Portola-Dr-90210/home/25518738

Sadly, most of Perth is totally overpriced. Like 1974 or 1990 London, this could well end in tears for those investors with shallow pockets. The only good value I see in Perth is in the ultra-cheap bogan neighbourhoods. Even these are not as cheap as they once were.

 

[Ausprop]

oh well plenty got away, plenty I wish had and plenty I am glad stuck! I flogged it to do a devy... now you mention it I sold them all for roughly $300k, all now worth $700k plus.

Perth market... it has already ended in tears. mid level Perth property lost up to 40% and is yet to recover. strangely EVP grew thru this period, creating the strange situation where EVP is not much cheaper than a house in the likes of Subiaco. I can't see Perth dropping again, tho perhaps the aspirational bogan suburbs which IMO are over valued could drop... the likes of EVP, carlisle, lathlain, canning vale etc.