How long would you say they last for almost new
And do they decrease in money villas cause usually appreciate with house and land
mirrabooka, balga, nollamarra
- Thread starter eyespy
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How long would you say they last for almost new
And do they decrease in money villas cause usually appreciate with house and land
Hi all,
Tried to search where to invest in perth and found here. Have searched westminister and girrawheen for few weeks and the price has jumped so high now. I don't want to join the crazy competition. Got a pre-approval from the bank $450k and looking for a rental yield and also CG for long term. I have tried to look for a property in mirrabooka and marangaroo. The price seems more affordable for me. Does anyone know how the rental market is in these two markets? Thank you for any opinions.
Tried to search where to invest in perth and found here. Have searched westminister and girrawheen for few weeks and the price has jumped so high now. I don't want to join the crazy competition. Got a pre-approval from the bank $450k and looking for a rental yield and also CG for long term. I have tried to look for a property in mirrabooka and marangaroo. The price seems more affordable for me. Does anyone know how the rental market is in these two markets? Thank you for any opinions.
Mirrabooka rental vacancy is very low. I have one there that has been getting top dollar for over 2 years.
Houses for sale are also expensive, can not develop unless you got lots of land 900sqm i think but I would expect rezoning being possible in maybe 5+ years time.
They also are trying to put the light rail in at Mirrabooka but that will be delayed for many years.
Marangaroo I would expect the same, prices for houses are very high.
Great, where did you buy??
What was once the notorious KGB (koondoola girrawheen balga) may be future re-gentrification prospects
Some of GirraDoolaRoo is quite nice. I like the pocket of Girrawheen that is the corner of Wanneroo Rd and Marangaroo Dr - it's much nicer than Balga.
As part of the New North some of the problem flats/ghettos in GirraDoola were pulled down and Satterly did a lot of refurbs of Homewest places like they did in Balga and sold to private occupiers.
Not much around under 400 in girrawheen now.
No reason why it couldn't go further - it's no worse an area than V
Balga or Nollamara and development sites in those areas carry higher price tags.
Ill put a carton on the rezoning going through - coalition government and max light rail both will want it to happen.
No reason why it couldn't go further - it's no worse an area than V
Balga or Nollamara and development sites in those areas carry higher price tags.
Ill put a carton on the rezoning going through - coalition government and max light rail both will want it to happen.
Developments in Balga crashing many years ago... this was just part of the property boom/bust cycle, 2007 Perth market crashed effected all property prices not only Balga and its only been the last 2 years where the market has recovered (not high end stuff). Developers everywhere during the Perth bust cycle were left with stock they could not sell, oversupply therefore property prices dropped significantly everywhere.
What does not get mentioned is that Girrawheen attracts a larger % of FHB due to infrastructure, proximity to the city and affordability. If you can develop and provide affordable accommodation this close to the city I think you will have no problem attracting buyers there will always be a demand for this product.
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So I have been looking for a house and just seen this. I went and had a look, but seriously, this house is part of units, but $589k? Next to this unit are homes west (I just live across) and can't even count the no. of times have been woken up by drunk tenants.
http://www.realestate.com.au/property-villa-wa-glendalough-115023963
http://www.realestate.com.au/property-villa-wa-glendalough-115023963
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Save your time and money and invest in older 2 x 1 villas in Tuart Hill, Joondanna, Osborne Park, Yokine, you will still get in there for around $400,000, less unrenovated, slighty more for something really nicely done up.
Good rental return trending upwards, strong demand, less stigma.
As a rule you should stick west of Wanneroo Road with the exception of Yokine and the southern part of Nollamara.
The likes of Girrawheen, Balga, Westminster, Koondoola are all crapholes.
You can't polish a turd no matter what name you change it to.
The New North, blah blah was just another slogan that didn't work.
Balcatta still has opportunities as well with some older 3 x 1 at affordable prices.
Hamersley worth a shot as well but only in the part that's not near the power lines.
Good rental return trending upwards, strong demand, less stigma.
As a rule you should stick west of Wanneroo Road with the exception of Yokine and the southern part of Nollamara.
The likes of Girrawheen, Balga, Westminster, Koondoola are all crapholes.
You can't polish a turd no matter what name you change it to.
The New North, blah blah was just another slogan that didn't work.
Balcatta still has opportunities as well with some older 3 x 1 at affordable prices.
Hamersley worth a shot as well but only in the part that's not near the power lines.
The likes of Girrawheen said:Anyone who invested in these areas and purchased over the last 2 years, have seen increases of 30%+, in particular development sites. Today I received a text message from an agent Balga deve site 728 sqm asking around $465K+, 6 months ago I would have paid $360,000-$370,000, this will not hit the market as there are plenty of buyers cashed up ready to pounce.
As far as Joondanna, Yokine, Tuart Hill, Osborne Park also good areas, different demographics, however unless its a development site where you could add substantial value I would stick to what you called the "crap holes", as there is much more demand for this product because developers can not get enough stock. Many investors ignore these areas as they can not get past the stigma and lose sight of what is actually happening on the ground today, these I have found are the real gems.
MTR
Many investors ignore these areas as they can not get past the stigma and lose sight of what is actually happening on the ground today, these I have found are the real gems.
MTR
Totally agree, good post.
Ultimately the numbers tell the story, in the last couple of years these "turds" have been much more profitable than posher suburbs
Also other areas have been outstanding performers, same/similar demographics such as Lockridge, Beechboro.
Its interesting Medina, absolutely hate the area, but that is going gangbusters as well, went out there the other day, so much happening in that area, not sure if you can get much cheaper. Still important to buy the right property same as all these areas, buy the wrong property and it will be an average performer.
