Is Merriwa a good investment suburb>

Hello everyone! Happy 2012! I was just wondering if anyone has any thoughts on whether Merriwa is a good suburb to invest in. It's a little far off the beaten track, but it's along that magical northern corridor. Any thoughts would be most appreciated. Thankyou!

:):):)
 
I'd consider Merriwa. "Balga by the sea" is a bit harsh when you compare the two. Yes there are some commission homes in Merriwa, and some lower income families, but nowhere near as many as Balga or Girrawheen.
Also, the commission homes are fairly spread out, so no "Ghetto" streets, maybe a rusty car on one or two front lawns.
However, the stigma remains and is keeping house prices and rents down from what I can see, definitely lower than all surrounding suburbs (Clarkson, Ridgewood, Butler, Quinns are all priced higher and have similar proportions of commission homes)
If you can ignore what many people can't (The commission homes), Merriwa ticks a lot of boxes: shops and parks within walking distance, beach proximity, good public transport (Butler station coming soon, regular buses to Clarkson station)
Most houses are reasonably young so not too many major repairs or renovations required, if at all.
Buying in the right street could get you a nice balance of low purchase price, with a reasonably low maintenance property and some good rental prospects.
I have also observed that house prices in Merriwa and surrounding suburbs have dropped dramatically over the last 12 months, I wouldn't be surprised if they continue to do so during 2012, but it must be pretty close to the bottom of the drop. (Quite a few cheap ones aren't staying on the market for very long)

Sources: Used to deliver fitness equipment in the area, PPOR in Clarkson - eye on the RE websites looking for a bigger place/potential investment ideas, Wife working for Dept. of housing. Also, I used to rent in Marangaroo, bordering Girrawheen, happy to tell you I'd much rather live near "Balga by the sea", than actual Balga.
 
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Another thought, there are a couple of cheap places popping up in the north-east corner of Clarkson. They're quite surprising because a lot of the nearby places are very nice, they are walking distance to the train station and have good acces to Wanneroo road. I'm guessing there may be some smell or dust from the quarry nearby, but I don't know.
 
Probably help to clarify - what Merriwa you are talking about.

The Merriwa in NSW (Hunter Valley) or the Merriwa in WA?
 
That's what I was asuuming Lizzie, Also the "Northern Corridor" thing too. (Althouhg I know nothing about Merriwa NSW, maybe that is North of something)
 
Merriwa is 10x better than Clarkson.

I would look to Butler moreso than Merriwa, though. More growth prospects, primary, secondary and tertiary inst, freeway link, train link later....
 
Merriwa is 10x better than Clarkson.

I would look to Butler moreso than Merriwa, though. More growth prospects, primary, secondary and tertiary inst, freeway link, train link later....

In what way is Merriwa 10x Better? (Genuinely curious, can't figure out how to type it without sounding pissy)

I agree that Butler has some exciting prospects with the Schools and transport etc. and the established infrastructure is possibly better too (Shops and parks a bit nicer) but seems to be overpriced by comparison to nearby suburbs at the moment.
Block sizes also generally smaller, with more of those "cottage" blocks in Butler than Merriwa. (admittedly, I am considering my personal preference of a bigger family block for my two kids, rather than "easy care" rental properties.)

Also, Travelling to the City every day for work, I much prefer to stay on the southern end of this little cluster of suburbs and save myself 20 minutes a day.
 
ugh - i couldn't agree with you more about being as close to BBRoad as possible, that Connolly Dr roundabout is a commuter's hell - it's like NYC after a cab prang - gridlock.

Maybe we're talking different pockets - I'm talking about Merriwa closer to Marmion. I wouldn't walk through Clarkson at night on the Marmion side, especially around that group of shops on Ainsbury/Renshaw. I think that's the old Mormon pocket, dunno.
 
Just reminded me. There is a Bikie club-house hidden up in Clarkson near those shops. (I know because I built them a Gym). You may be thinking of SDA's (they have a building there) or Jehovah's Witnesses, definitely not Mormon, though.

And Yeah, I am closer to the Somerley estate, although just outside it. a nicer part of the suburb. (Apart from that guy being bashed unconscious walking home from the pub...)
 
Budget, mostly. At the time I bought the place (end of 2009), I was earning about $28k from my day job and about $10k from my night job, getting taxed like crazy, and my wife was about to stop working to have our first child.
So i needed to look at the bottom of the market.

We only bought at the time because we could still use my wife's income for the application, and it didn't look like i'd be getting a pay rise for a few years as I wsa a trainee, leaving us renting for (forseeably) at least the next 5 years until our kid(s) went to school and my wife could get back to work or my income went up.

For the price, Clarkson ticked a number of boxes for my family: low maintenance (newish) building, bigger block (kids - 1 then, 2 now), walking distance to train, all our extended family (babysitters) are NOR, close to shops, parks & beaches.
Train from Clarkson to Perth Underground is just over 30 minutes. When I was in Marangaroo, I'd drive 15 minutes to the station and then train for 20. At least at Clarkson I was the first stop so I could get a seat.

As mentioned above, I had been working previously in deliveries for a Clarkson based store, gettting me alot of time on the streets and in the houses of the surrounding suburbs so I'd developed an idea of good areas and good streets. I intetionally avoided some areas , like near the aforementioned gang house. They were nice customers, (big purchase, cash, no haggling) but I had a feeling I didn't want them as neighbours.

As it turns out, I have done quite well salary-wise since then. I must be good at my job or something. And although I am looking for a bigger place, I'm still leaning towards staying in Clarkson, also considering Merriwa, Ridgewood and Mindarie (if I can snag a bargain). I wouldn't mind getting into the Somerley estate west of Connoly drive, which I am barely outside of now. (although If you check out the thread I started a couple of days ago, you'll see I'm not currently living in my Clarkson house)
 
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Also, It's always been a philosophy of mine that life is better when you live where you play, and travel to work, rather than the other way around.

I'd rather be 2 minutes from the beach and 30 minutes to work than 2 minutes from work and 30 minutes from the beach. Especially in Perth in summer.
 
I think a good investment in Perth's northern suburbs is Amberton Estate at Eglington. It's a new subdivision on the coastal side of mamion avenue just past Shorehaven at Alkimos. Last month I bought a 280 square metre block overlooking a park for $179k. Will cost about $355k total for house and land (completely finished incl stamp duty). Rent appraisal is $430 a week. Considering the land is about 200 metres closer to the coast than where Shorehaven finishes now I think there will be some good capital gains to come and it is cash flow positive after taking in to account depreciation and tax.
 
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