This is a weird area. Its still mainly comprises old 3x1 public housing and Italian market gardens even though its only minutes from Fremantle and Coogee beach. Areas such as this would have normally been bought out and rebuilt by now. I'm tempted to ask around and see if any residents want to sell.
Hamilton Hill/Coolbellup [Perth]
- Thread starter dexx
- Start date
What do you Specifically want to buy?
I've only been through there once but I have noticed the area is priced considerably less than surrounding suburbs. Some streets looked a little dodgy but I've seen much worse. I'd definitely consider it, but as I've said, I don't know much about it at the moment.
Hi dexx
these are areas that are changing and where there may be some great opportunites for you to purchase now with a view of possibly developing later.
Contact City of Cockburn for info on their Revitalisation Plan, find out what precincts will be rezoned.
Hamilton Hill and Coolbellup are cheap compared to surrounding areas as Vultures mentioned, this is brilliant and with local government changes you may be able to jump in before the prices catch up.
I have been targetting State Housing areas where the plans are to revitalise the area and rezone.
Cheers, MTR
Stayed with a mate near the Kardinya Park corner of Coolbelup a while back, and relatively peaceful, never had trouble. Did go down to Phoenix shopping center a few times, and some places are rough after 6pm, although never ran into trouble, just a few shady characters near the fishnchip store.
Never been a fan of the entire Freo thing tho...
Never been a fan of the entire Freo thing tho...
Don't you mean Coobiaco? 
cheers
cheers
Its too late IMO the prices have gone ballistic 12-18 months ago was the time to buy, at this point in time you will be paying a small fortune $600K+ to get into these areas and to buy the right product if you want further growth. Local agents are looking after the builders/developers and its very difficult to get a look in.
Also, if planning to develop I think the figures are now too tight, the 3x2 villas are now selling for around $520K but they are not rising as fast as the development sites that is the problem. With continued strong demand for deve sites and not enough stock prices are still going nuts with multiple offers.
If the plan is to buy and hold then you will be OK, but you need deep pockets for this strategy and interest rates will not remain this low forever.
As far as developing goes, I have moved on from this area for the above reasons.
Cheers
MTR
Also, if planning to develop I think the figures are now too tight, the 3x2 villas are now selling for around $520K but they are not rising as fast as the development sites that is the problem. With continued strong demand for deve sites and not enough stock prices are still going nuts with multiple offers.
If the plan is to buy and hold then you will be OK, but you need deep pockets for this strategy and interest rates will not remain this low forever.
As far as developing goes, I have moved on from this area for the above reasons.
Cheers
MTR
We started our investment journey 12 years ago by buying in Coolbellup. At that time we bought a vacant block of 450sqm for $80k and built a 3x2 with double carport for $70k. So $150k all up. Fast forward to today and we rent it out for $450 pw. It was bank valued last week at $490k. I was told at the time not to touch Coolbellup as it was dodgy. But I knew the government was revitalising the suburb by renovating and selling off public housing apartments and houses. This money was then put back into the suburb to enhance street scapes and parks. Yes, the shopping centre is probably still on the dodgy side but if you look at proximity to Fremantle and the city, this suburb still presents excellent value for an investor.
