Perth areas that are too hot?

Aaron Sice

Aaron Sice

Looking for land in Maylands area at present.

Found a 250 sqm lot, needs work to be useable and wanted $560k.

Utterly ridiculous price for Maylands and not even worth considering a realistic offer of $420k.

Belmont also insanely hot - but wouldnt mind a sub 16m frontage if only doing a pair of 2x2s or something.

Anyone have some good R30+ tips on a smaller lot? Would prefer to avoid Vincent.

My first foray in 7 years so a bit out of it.

Cheers.
 
Belmont/cloverdale are hot, hot, hot ?Buyers over? $799k for 974 sq meters.

There are 2 coming up for auction: 394 Kew Street and 35 Gild Street which will indicate which way the market is heading.

I have been looking further north in Bayswater, Embleton and even Morley.

I was planning on looking at this one this weekend even though it is too far north for me but it went under offer in 48 hours or so:

http://www.realestate.com.au/property-house-wa-morley-115811363

Maybe Yokine or Bayswater?
 
Good luck in your search aaron

I can tell you from the written advice recieved from city of belmont is they will refuse multis on r30 on the spot so you will have to fight it which will cost time and money.

Belmont has seen some rediculous gains in the last 18 months for devy sites so will take some research and time.

I think you would be better off looking for a small r40 thats not a duplex block so wont demand the pricetag. So under 400sqm and then build you 2x2s.

But no doubt you know all the ins and outs.

Cheers
 
All areas in Perth metro that have development potential are hot at the moment and I believe this product will continue to rise. Comes down to demand vs supply, there is just not enough stock around.

I think the only way to source something reasonable is aligning with an agent and dangle a carrot, that's what I am doing, I will let you know if it works;)
 
I just noticed that not all blocks in Maylands are so expensive. It looks like smaller blocks range from $269,000 to $375,000 depending on the size and location. Not sure if that is overpriced or not because I have not really been following the price of land in Maylands.
 
perthguy said:
I just noticed that not all blocks in Maylands are so expensive. It looks like smaller blocks range from $269,000 to $375,000 depending on the size and location. Not sure if that is overpriced or not because I have not really been following the price of land in Maylands.
Click to expand...

I have not been following the Maylands market, however blocks are scarce this close to the city, with current demand I guess they will just continue to rise.
 
perthguy said:
Belmont/cloverdale are hot, hot, hot ?Buyers over? $799k for 974 sq meters.

There are 2 coming up for auction: 394 Kew Street and 35 Gild Street which will indicate which way the market is heading.

I have been looking further north in Bayswater, Embleton and even Morley.

I was planning on looking at this one this weekend even though it is too far north for me but it went under offer in 48 hours or so:

http://www.realestate.com.au/property-house-wa-morley-115811363

Maybe Yokine or Bayswater?
Click to expand...
I'd be looking on the other side of Beechboro Road Morley Through to Bottlebrush drive. Some duplex blocks selling in low 4's. A bit of subdivision/new builds going on!
 
But only 42, not the forecast 44. Fire in Jolimont of all places.

Maylands - 1200 SQm dev site up the road from me went for 1.2mill.

Houses subbed and back block on sale are around $350-$400 for 300sqm block.

OP, that vendor is "dreaming"

611sqm for $739 - across form a park near the river

http://www.realestate.com.au/property-residential+land-wa-maylands-200727695

1066sm for $900K

http://www.realestate.com.au/property-residential+land-wa-maylands-200725687

Think around $100,000 per 100 sq m unless it has river views
 
Spiderman said:
If transport including access to Morley, CBD, UWA & QEII is important, have a look at any location near proposed bus route 950.
Click to expand...

That is great news! Much needed! I know students travelling from Eden Hill and Morley to Mount Lawley. A 15-20 min drive was 60-90 min 2 bus trip. The regular buses should help heaps, halve the time.
 
Thanks guys. Bayswater is hard, most blocks are 17.5/25. Very hard to find a 30+ that I can put something on that justifies the asking price.

Morley, looking hard but again too much R25.

The hunt continues, if anyone has any heads up would be appreciated.

A.
 
Aaron Sice said:
Thanks guys. Bayswater is hard, most blocks are 17.5/25. Very hard to find a 30+ that I can put something on that justifies the asking price.

Morley, looking hard but again too much R25.

The hunt continues, if anyone has any heads up would be appreciated.

A.
Click to expand...

some tips sent via pm.

cheers
 
Aaron Sice said:
Thanks guys. Bayswater is hard, most blocks are 17.5/25. Very hard to find a 30+ that I can put something on that justifies the asking price.

Morley, looking hard but again too much R25.

The hunt continues, if anyone has any heads up would be appreciated.

A.
Click to expand...

Take a look at TOB proposed zoning changes. They are seeking more infill and development. Could be some good opportunity there.
 
Aaron Sice said:
Looking for land in Maylands area at present.

Found a 250 sqm lot, needs work to be useable and wanted $560k.

Utterly ridiculous price for Maylands and not even worth considering a realistic offer of $420k.

Belmont also insanely hot - but wouldnt mind a sub 16m frontage if only doing a pair of 2x2s or something.

Anyone have some good R30+ tips on a smaller lot? Would prefer to avoid Vincent.

My first foray in 7 years so a bit out of it.

Cheers.
Click to expand...

I saw a small r40 in Innaloo which would work as a multi site but not for a villa. I don't know the dimensions but it was a corner block.
 
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