Hi guys,
I've just turned 22 and looking at purchasing my first IP in Perth as I've lived here my whole life and despite potential better opportunities interstate I'm willing to look into it as my first purchase. I Have really set potential CG as my priority as my cash flow is flexible since I still live at home(obviously want a reasonable yield).
I've honed in on Forrestfield as what I think to be an ideal location and a particular type of property as a 3x1x1 on 700+sqm for me to enter the market personally as investment property for the following reasons;
I'm well aware the Majority of the Perth market is slowing down as it's deep into a the current cycle but it seems the properties I'm targgetting in Forrestfield are being snapped up quickly with the average days on market rate at 30.34 days.
Any other locations I should be looking at which would suit my personal position?
Any feedback, insight and input is much appreciated.
Ta
I've just turned 22 and looking at purchasing my first IP in Perth as I've lived here my whole life and despite potential better opportunities interstate I'm willing to look into it as my first purchase. I Have really set potential CG as my priority as my cash flow is flexible since I still live at home(obviously want a reasonable yield).
I've honed in on Forrestfield as what I think to be an ideal location and a particular type of property as a 3x1x1 on 700+sqm for me to enter the market personally as investment property for the following reasons;
- The median price is $453k which is spot on what I've set for my budget
- The median price of neighboring suburb High Wycombe is $479k without I feel being superior enough to justify the difference
- Proposed Forrestfield airport rail link - connecting it to Bayswater train junction which is then connected to the CBD
- Proposed r20, r25 and r30 rezoning
- A very reasonable 15kms from CBD
- Existing infrastructure such as bordering main arteries of Roe and Tonkin Highway, local shops and schools.
I'm well aware the Majority of the Perth market is slowing down as it's deep into a the current cycle but it seems the properties I'm targgetting in Forrestfield are being snapped up quickly with the average days on market rate at 30.34 days.
Any other locations I should be looking at which would suit my personal position?
Any feedback, insight and input is much appreciated.
Ta
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