Mandurah WA
- Thread starter Robin
- Start date
Hi Robin
It would really depend on your budget?
I was building land and house packages in the Mandurah area during the last boom and still hold propert in this area.
As you probably already know Mandurah prices have dropped dramatically since the last boom and there is still lots of stock on the market, great buying opportunities for you.
My suggestion would be to buy on the beach side and as close to the beach as possible.
Some areas that I would look at would be:
Madora Bay
Halls Head
Silver Sands
San Remo
Lakelands not on the beach side, however has the rail.
There are also older houses on development sites in the central part of Mandurah which will provide some great opportunities for adding value down the track if you chose this road could also be a good option.
Cheers, MTR
You could buy 3 places in mandurah for that.
MTR, Are Falcon & Wannanup too far away from train/shops/centre? Too expensive?
Hi Jake
Why did I leave Falcon and Wannanup out, Falcon is definately an area that I would buy into, preferably beach side over estuary. Robin's budget is huge for Mandurah, which will give plenty of options.
Also, if I recall rezoning for Falcon was on the cards some time back now, though one would need to check with Mandurah City Council.
MTR
It really depends on what you are looking for, and what your relative might need.
Some on here will caution you against buying an IP in a location so that a family member may live in it, but it depends on the area, the family member and everyone's requirements.
With $650k I'd look at Halls Head but if they need to be close to the train station etc to commute the answer may change.
some relevant commentary here:
Doors still open for value hunters
http://www.hegney.com.au/sysnews/101
Doors still open for value hunters
http://www.hegney.com.au/sysnews/101
This is an interesting read.
I think Mandurah has reached bottom too as mentioned by the Hegney group.
Was chatting to a RE agent yesterday as I plan to sell off one of my properties later this year and he believes the market is starting to pick up/turn around.
To give you an idea on how the Mandurah market has been hammered, one of my properties in Madora Bay was valued in 2006 by the Hegney group - $600K, that was just prior to the end of the boom, I would be lucky to sell it for 420K today. I actually paid 199K in late 2001 early stage of the boom.
MTR
I bought an IP in Lakelands in October last year. Still some really good buys and rent returns are good.
As at yesterday, there were 4 available rentals in the area and a property manager i spoke to has said they cant get enough rental homes in the area.
Train station going in at Karnup and far enough from the rat race of Mandurah yet close enough for everything you need.
Lakelands has the second best growth in the Peel Region and will only get better.
I bought a 6yr old 4 x 2 with extended carport, 5 x 3m shed, paved side access, fully landscaped on 600sq block for $387k.
Will be buying another one soon in the same area.
As at yesterday, there were 4 available rentals in the area and a property manager i spoke to has said they cant get enough rental homes in the area.
Train station going in at Karnup and far enough from the rat race of Mandurah yet close enough for everything you need.
Lakelands has the second best growth in the Peel Region and will only get better.
I bought a 6yr old 4 x 2 with extended carport, 5 x 3m shed, paved side access, fully landscaped on 600sq block for $387k.
Will be buying another one soon in the same area.
The train line was meant to be in Lakelands and the shopping centre should already have been built. Some investors bought prior the GFC at high price hoping they would make a profit. 370k is a steal right now for a 4x2. Price will definitely go up in Lakelands based on Peet promises the shopping centre is coming at last and a new public school.
*cough*
http://www.realestate.com.au/property-residential+land-wa-mandurah-200490215
*cough*
(10) 3x2s apts or (16) 1x1s and 2x1s in a mix.
http://www.realestate.com.au/property-residential+land-wa-mandurah-200490215
*cough*
(10) 3x2s apts or (16) 1x1s and 2x1s in a mix.
I love it how agents advertise as only 2 units per lot
Must be losing their clients a heap of money
Boods
not wrong!
seen the prices? you could develop this entire lot at multi numbers and still be lucky to clear 5%!!!!
seen the prices? you could develop this entire lot at multi numbers and still be lucky to clear 5%!!!!
yeah no money in it atm, not when you can buy near new 2 storey 3x2s for under $400k!
Sanj
I agree, there is still lots of stock in Mandurah and surrounding areas, prices not really moving, not like Perth and rents are not that great compared to Perth.
Cheers, MTR
