Has rockingham WA any potential

Hi guys, im looking to get my 1st property soon and it would be my PPOR for 6 months then convert to a IP .
Im looking at rockingham as that's where I want to live, but is it a good place investment wise?
For me I think anywhere near a nice beach is a good start, and rockingham also has the amazing marine park , penguins, seal lions and dolphins etc.
It has lots of naval base workers too on steady incomes, but perhaps also a lot of mine based workers.

There dose seem to be a lot of building going on just now, two big blocks of appartments near the foreshore and lots of smaller appartments blocks going up and 3,4,-8 house developments on the bigger blocks.
I can imagine this leading to over supply of 1-2 bedders so I was thinking more along the lines of an older 3-4 bedder house that I could renno when im living there and then perhaps develop latter down the line.

Anybody any thoughts on the area?
 
Plenty of opportunity in so-called bogan suburbs. Rockingham, Hillman, Coolongup etc are often mispriced. In Hillman, which is adjacent to Rockingham, you can get a brick house on a largish 700sqm block for as little as $275,000.
 
also don't forget to up your storm cover in your insurance policy.

every time a butterfly farts in ocean reef, someone in rockingham loses their roof.
 
I have driven threw a few times on a friday and Saturday night.
It's fairly quiet. One or two places open after 12 but not many people on the streets or anything.
I have rented there for a year.
It's certainly not the rough and tough place I get told it is by people from nearer th city if that's what you are meaning?
 
My in-laws live in Hillman (right next to Rockingham) and over the last 10 years this suburb has really evolved. It was previously a lot of 1970s brick homes that were untidy with overgrown gardens and half a car parked on the lawn. In the last 5 years in particular the suburb has benefited from the demand in Rockingham (prices there are way overpriced imho) so many people have purchased in Hillman as the value for money is much better. As a result those 1970s houses are getting face lifts - rendering, landscaping and internal renovations.

Transport links to the city have also greatly improved. I'm not an expert at all but in my view this is a bit of a sleeper suburb that still has quite a bit more potential.

In the past there has been a high bogan factor but as prices are increasing they are being pushed to more remote suburbs.

I'm sure someone on here will be able to give some figures about this area but I would say as long as you get a solid home, good sized block in a good location there is enormous growth opportunity.

vtt
 
I think alot of the "Riff Raff" has moved out of Rockingham and into Baldivis, still sticking to the southern roots :p
 
I will have a drive around hillman and check it out too then. Thanks
There dose seem to be some new build 2x1s etc asking a lot but then when you consider they are a 2 min walk from the beach, mayb there not so over priced.
I've seen a few old houses 4x1 etc on blocks around 700sq. I think that's more what I would aim for so I can Reno for equity gain and rent at a decent price.
I guess if it all went realy wrong I could just live in it longer
Has there been a boom in rockingham in the past? If so what drove it?
 
I think alot of the "Riff Raff" has moved out of Rockingham and into Baldivis, still sticking to the southern roots :p

I hear that place is also not so good. My colleague built a house there and had a little bit of buyers remorse.

Im not saying it's a bad place to invest. Mt Druitt in Sydney is an undesirable location for many people, yet the prices went through the roof :)
 
Hi guys, im looking to get my 1st property soon and it would be my PPOR for 6 months then convert to a IP .
Im looking at rockingham as that's where I want to live, but is it a good place investment wise?
For me I think anywhere near a nice beach is a good start, and rockingham also has the amazing marine park , penguins, seal lions and dolphins etc.
It has lots of naval base workers too on steady incomes, but perhaps also a lot of mine based workers.

There dose seem to be a lot of building going on just now, two big blocks of appartments near the foreshore and lots of smaller appartments blocks going up and 3,4,-8 house developments on the bigger blocks.
I can imagine this leading to over supply of 1-2 bedders so I was thinking more along the lines of an older 3-4 bedder house that I could renno when im living there and then perhaps develop latter down the line.

Anybody any thoughts on the area?

Not sure on your price point, but I believe for a little more you would achieve better results in Coolbellup, aim for larger block with potential rezoning, just around the corner

Mtr
 
I've lived in the area for 9 years now. Brought to town by Defence, which has around 3000 people on the island, and if your tenants are bad you can call the base and complain to their bosses... They don't want this :)

For a price point reference, I bought in "old" Rockingham in 2008 for around 300, for a similar un-renovated place today it's still around 300. Renovated around 350-400 maybe. So prices haven't really moved in those years.
I really like the development plan for the foreshore and waterfront area, should make the area that little bit nicer still.

Rhys
 
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