Perth - could be a good opportunity

At times its like banging your head against the wall, but you just have to move fast, pay a reasonable price and be smarter than the average buyer.
 
If you think you can get more, put your money were your mouth is and buy the block ;) Personally I am a little more conservative. It is Ashfield! The whole, "come back to my river front block in ... Ashfield?" doesn't ring so well on the dinner party circuit so people aren't generally paying as much of a premium for the views.

My comparable was these:
http://www.realestate.com.au/property-house-wa-ashfield-113717723
Same size block and take off $200k for the build. Yes it's not street front or river front, but this is what you are competing with.

The stigma is changing. Bassendean riverside is in such high demand that some people do consider Ashfield as well. With my block I've had a couple of locals ask if I ever wanted to sell, to let them know. A lot of people love the area and convenience to river, airport, Tonkin highway, shops. It has a fairly closeknit community. Any of the owners on the river that I've met don't regret buying/living there and don't care too much about people's opinion. Feedback from my last tenant was his friends ask him why he lives at Ashfield (implying it's crappy) but once they visit, they like it and think its good value. I've even had 3 ex-tenants contact me asking if they could rent the property again. I agree parts are still quite ugly, but can only improve IMO.
I think the blocks would still sell for more than the non-street front comparable land. I could only buy that property if I sold my Ppor, which I contemplated, but like it too much so it's a no-go for me. Plus I'd have to go back to work to fund development and I'd rather not. (enjoying lying on the couch with my little dog, wasting time...) Maybe you are right though! I don't think Ashfield is quite ready for such small blocks. I'm not sure if there would be much profit if you only did 3 or 4 blocks but sold for more $$$$.
Also, I'm not purchasing any more resi property.
 
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But try getting Multis through Stirling at R30... Nevergonnahappen - Until the WAPC makes an example of a 'council' as discussed at last weeks Property Council Function...

I have a CofS multi in the long term pipeline but luckily its R40. Nice corner block on cnr of Scarb Beach Rd. It's got 3 1950s 2 x 1s on it.
CofS has to pull their head out of the sand.
 
But try getting Multis through Stirling at R30... Nevergonnahappen - Until the WAPC makes an example of a 'council' as discussed at last weeks Property Council Function...

the issue is the "no multis at R30" is that there is a note in their TPS that disallows multis under R40.

technically, any legal doc must provide for the provision in full, not a "note" or "memo". so technically it can be challenged in SAT - and that advice is from someone inside Stirling.

but here's the catch - build stratas are approved under delegated authority by......yep, local govt.

ouch.
 
I have a CofS multi in the long term pipeline but luckily its R40. Nice corner block on cnr of Scarb Beach Rd. It's got 3 1950s 2 x 1s on it.
CofS has to pull their head out of the sand.

councillors have unanimously put forward a motion to petition WAPC to allow them to disallow multis under R60.

that nullifies part 7 of the r codes for 80% of directions 2031 stage 1.

reckon WAPC will let it fly?
 
councillors have unanimously put forward a motion to petition WAPC to allow them to disallow multis under R60.

that nullifies part 7 of the r codes for 80% of directions 2031 stage 1.

reckon WAPC will let it fly?

Fark me!
That will put a dent in my idea but I'm going to trust the WAPC to not allow it to happen.
 
I wouldn't want to be the first...

Someone must have been reading this post:
http://www.realestate.com.au/property-residential+land-wa-ashfield-200581599

$380-$400 for larger street front blocks on river (Hardy Road). Puts my smaller blocks spot on.

I think that price is about right. I think 1 Ashfield Parade is still better and would achieve higher price. If I remember correctly you get a view of the river as you drive into your home, whereas cnr Hardy road you don't. And if you looked across the road you would have 'Bayswater' neighbours, rather than 'Ashfield' neighbours. :) :) I still think you need to take Ingles place sales prices into consideration. The old pub site is a bit average. I think you could achieve good prices for two riverfront blocks if you didn't go smaller than 400sqm. Just my opinion of course.
 
It will be quite interesting to see what the demand will be like for the newly created street front blocks and what prices they achieve. It's funny there's barely ever any for sale and now 4 along that strip. If you hear of any of them selling Kent, can you let me know out of curiosity. Ta!
 
Anyone go or know the results?

I think it's a nice area but I think 1.2m buy price wouldn't have profit in it - not sure the area is prepared to pay more than $1000/m2 for small blocks even if they are river front.

I'd love to live somewhere like that myself though - I love water. I was driving through Guilford today and could imagine myself there.
 
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