mirrabooka, balga, nollamarra

Market in Girrawheen still running hot
Apparently 4 offers for this one, offers over $425K, don't know what they got, this is a brick veneer property, double brick fetches more.

I remember I foolishly said that it would be tough to break the $400K barrier, that happened a while ago now

Next question.....will it break the $450K barrier for the usual 692 sqm block/house?? Demand is greater than supply at the moment


http://www.realestate.com.au/property-house-wa-girrawheen-115833107
 
westminster said:
This is plenty!! I have single storey 4 x 2 with 2 living spaces on 300sqm in Gwelup. Check the thread and you can see some designs in there.
Where is your block?
Click to expand...

Cloverdale. By the time I am ready to build, it will probably be double story. I think council also has regulations that above R30, half must be double story? I haven't even investigated the rules, let alone look at designs. I have just gone around looking at existing townhouses and the 4x2 with one very small living area did not impress me at all. For me it is about rental return. If I want $600 a week and I have one small living area but the guy next door has a similar house but with a home theater for a similar price... I know I won't be getting the business.

Thanks for link though. I know I have to start seriously looking at designs at some point.
 
MTR said:
Market in Girrawheen still running hot
Apparently 4 offers for this one, offers over $425K, don't know what they got, this is a brick veneer property, double brick fetches more.

I remember I foolishly said that it would be tough to break the $400K barrier, that happened a while ago now

Next question.....will it break the $450K barrier for the usual 692 sqm block/house?? Demand is greater than supply at the moment


http://www.realestate.com.au/property-house-wa-girrawheen-115833107
Click to expand...

Where's Sanj!

Might be a good time for a reval and another ip, but probably somewhere else
 
vmmg1992 said:
Good time to sell? or will it come crashing back to the mid 300K range once demand ceases? food for thought. Hope it keeps climbing up !
Click to expand...

Me too.

Well I jumped back into the Perth market as I like it at the moment, 6 months time I don't know, so I guess just have to spread the eggs and diversify this does help, by this I mean also invest in other parts of Oz.

This really saved by bacon in the last boom. I watched some investors in Perth go under as they just kept going/buying in the same market, so my point is if you have already purchased in Perth, perhaps its also time to look at Brissy, Syd, Melb as some markets will continue to rise whiles other may stall. Also, keeps you focused and head clearer, I think;)
 
Hi All

Long time reader, first time poster.

First up, I'd like to say thanks to everyone that has posted on this site, it has been an intriguing read, with so much valuable advice and knowledge thrown around.

I am young and have just started really getting into property investing. I have one IP in Rivervale, a townhouse. Good yields, however I think I bought at the top of the market last year, so haven't got much CG out of it.

I am currently looking to buy a second, using potentially some equity and saved up cash, but am struggling to find ideal locations, with good capital growth potential.

I think alot of the property prices in the eastern and north-eastern suburbs have probably bolted, so I wanted to get an idea of everyone's thoughts on areas like Bibra Lake, Coolbellup, Yangebup.

Any advice/thoughts would be greatly appreciated
 
such is ben said:
Hi All

Long time reader, first time poster.

First up, I'd like to say thanks to everyone that has posted on this site, it has been an intriguing read, with so much valuable advice and knowledge thrown around.

I am young and have just started really getting into property investing. I have one IP in Rivervale, a townhouse. Good yields, however I think I bought at the top of the market last year, so haven't got much CG out of it.

I am currently looking to buy a second, using potentially some equity and saved up cash, but am struggling to find ideal locations, with good capital growth potential.

I think alot of the property prices in the eastern and north-eastern suburbs have probably bolted, so I wanted to get an idea of everyone's thoughts on areas like Bibra Lake, Coolbellup, Yangebup.

Any advice/thoughts would be greatly appreciated
Click to expand...

My pick would be Coolbellup, Bibra Lake
However, I would look at Mirrabooka, as I believe its undervalued compared to surrounding areas, it does not have the rezoning aspect and I think it has been overlooked. It ticks lots of boxes, close to the city, rent may possibly cover mortgage???
 
Its going nuts again

Just got an investor alert, no address, however its Koondoola, 839 sqm proposed R40, $480K. Not sure if it is listed yet, 4x1.

Lets see what they get
 
such is ben said:
Thanks MTR

I will expand my search.

Anything positive from the alert?
Click to expand...

Have not followed this up, really just posting for information on how this market is tracking for those interested.

Also, have a close look at Marangaroo, there are pockets in this area that will be rezoned. Check with City of Wanneroo.

Cheers
MTR
 
such is ben said:
Is there any particular reason that you favour suburbs north of the river?

Just curious is all
Click to expand...

I can't answer for anyone else, just relating to my situation. For me it is price. Go north and the equivalent for the same distance south is cheaper. I want to live less than 10km from the city. If I go south it is a lot more expensive to do so. Plus, I think there is more potential for capital growth where suburbs are undervalued.
 
such is ben said:
Is there any particular reason that you favour suburbs north of the river?

Just curious is all
Click to expand...


I grew up in the northern suburbs Yokine and now live in Mt Lawley, so very familiar/comfortable with NOR.

However, I also buy south and still looking, my last 2 purchases were development sites SOR and looking at securing another now SOR, just waiting on the vendor and my agent to sign him up.

I have found better value at the moment SOR in certain areas.

I started looking at Dianella, Innaloo, Morley, Yoking, Tuart Hill, Bayswater, Bassendean, Balga, Westminster, Nollamara and too many buyers in this market at that time, prices rose rapidly, I know they are everywhere.

Girrawheen was just a very cheap entry level, and close to the city, made sense at the time of purchase.

But like others have said I think in this market you need to probably focus on any area where you can secure a site/property regardless SOR/NOR.
 
Very true. Everything is snapped up so quickly (of value)

I grew up SOR so I guess that is why I feel more comfortable there.

I will add Mirrabooka to my searches though

On the topic of level of comfort: What are everyone's thoughts on purchases in other states. It is part of my overall plan, however only just looking for my second now, I think it may be too risky at this stage. Not knowing exactly how the suburb/city operates, supply and demand in certain areas and the various taxes etc.
 
such is ben said:
Very true. Everything is snapped up so quickly (of value)

I grew up SOR so I guess that is why I feel more comfortable there.

I will add Mirrabooka to my searches though

On the topic of level of comfort: What are everyone's thoughts on purchases in other states. It is part of my overall plan, however only just looking for my second now, I think it may be too risky at this stage. Not knowing exactly how the suburb/city operates, supply and demand in certain areas and the various taxes etc.
Click to expand...

I invest all around Australia, no different to investing in Perth IMO, still need to network and research, OK cost of a plane ticket, have a holiday at the same time.

In fact you may make better choices..... as you do not have the same biased to certain areas as the locals and may identify or receive a tip and you have the right mindset.

For example West Syd been on the nose for years, Syd investors always bag these areas, yet prices have gone crazy. started 2 years ago due to immigration, IT professionals from India buying up in these areas as they were cheap, not anymore.

I also know investors from Syd who invest in Perth and have been very successful, once again they go anywhere that will make them money and where the market it rising.

Cheers
MTR
 
If anyones still looking in girrawheen, recieved this one today. Has not hit the market yet i dont think

New Listing

31 Oldfield Road, Girrawheen.

Nice 4x2 house on 692 sqm block . Tipped to become R60.

Quiet street, away from main road.

Nick - Raine & Horne north perth

Cheers
 
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