Perth Future Development Under $500k?

L

LesleyAnne

Perth future development site under $500k

I am looking for a house/land with future subdivide potential (max $500k), to hold as is for min 3-4 years, maybe longer.

I appreciate most every other investor is looking for something similar, but any suggestions on other areas not quite in the spotlight atm?

Many thanks!
 
There are a lot of suburbs in the northern corridor (in the City of Wanneroo and City of Joondalup) up for rezoning in the next few years. Also in the southern corridor around Hamilton hill, spearwood, coolbelup area...
 
mrdobalina said:
There are a lot of suburbs in the northern corridor (in the City of Wanneroo and City of Joondalup) up for rezoning in the next few years. Also in the southern corridor around Hamilton hill, spearwhood, coolbelup area...
Click to expand...

Thanks for that Mrdobalina, I've had a look at Coolbelup briefly, not a lot on the market atm because of the rezoning, but in my price range. I'll check out the other areas you mentioned.
 
What sort of development were you thinking?

For a greater long term potential i would suggest you look at ways to increase your budget to around the 600k+ mark where there will be more options that may stack up numbers wise.

Cheers
 
I have a limit atm of $500K.

For me the most important aspect is growth. In the future I may or may not develop the property. I just need it to grow in value over shares, regular buy and hold etc.
 
mrdobalina said:
There are a lot of suburbs in the northern corridor (in the City of Wanneroo and City of Joondalup) up for rezoning in the next few years. Also in the southern corridor around Hamilton hill, spearwood, coolbelup area...
Click to expand...

You wont find anything with development potential in any of these areas for under $500K in southern corridor, the boat has well and truly sailed and continuing to rise, in fact you will be looking closer to $600K+
They sold an R30 just the other day in Hammy Hill for around $750K
 
LesleyAnne said:
I have a limit atm of $500K.

For me the most important aspect is growth. In the future I may or may not develop the property. I just need it to grow in value over shares, regular buy and hold etc.
Click to expand...

In your budget perhaps
Pockets of Beechboro, Medina, Lockridge, Girrawheen, Koondoola, Balga, Thornlie, Gosnells, Kelmscott.. there must be others, just some off the top of my head.
For growth my recommendation but I am biased is Girrawheen/Koondoola, Lockridge and Beechboro, they are not making any more land this close to the city.:) Not a fan of Balga, too much infill and I see prices dropping off, end product that is, just my opinion
 
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Looking to Buy Girrawheen

Hi All,

I am thinking to buy property in Girrawheen for hold upto 3-4 years and develop later.
I see property value is quite ok compare to surround suburbs ..
I am looking need bit suggestion about area is ok to invest.
 
Do a search on Girrawheen, there are many posts on this that may be very helpful. This market as you probably now has moved a fair bit, but nonetheless as you mentioned surrounding areas significantly higher, that has to tell you something.
 
Piggybacking on the previous question, what streets/areas should one look for (beware of) in Girrawheen and surrounds, while looking for a decent house?
 
rajnhets said:
Piggybacking on the previous question, what streets/areas should one look for (beware of) in Girrawheen and surrounds, while looking for a decent house?
Click to expand...

Anywhere at this point in time, the larger the land component the better, the most desirable pocket is West Girrawheen, closer to Wanneroo Road.

Most blocks are around 698 sqm, my preference would be anything over 728 sqm, as you can fit three decent 3x2 villas, but this size land will be harder to find in this area.

Also, what I found interesting .....a couple of months ago now, I saw a relatively new villa in Girrawheen selling for higher price than Balga. Government I believe has sold off a large parcel of land some time ago now. Perhaps this is an indication that villas in Girrawheen will actually go for higher sale price than Balga, that's a huge plus.
 
boeman said:
Here is hoping.

Even Koondoola is fast approaching Girrawheen pricing.
Click to expand...

Koondoola has always been relatively close in value to Girrawheen, however the rents are much lower, not sure whether you checked this out, that was in part why I never purchased in Koondoola. I also think it could be a hang up that I have as I was once a pupil at Mercy College Koondoola:.... some very bad memories..... all good though, no shrink visits yet:eek:
 
MTR said:
Koondoola has always been relatively close in value to Girrawheen, however the rents are much lower, not sure whether you checked this out, that was in part why I never purchased in Koondoola. I also think it could be a hang up that I have as I was once a pupil at Mercy College Koondoola:.... some very bad memories..... all good though, no shrink visits yet:eek:
Click to expand...

I looked at one house in Koondoola before going back to my original plan of Marangaroo, mainly since I believed the closer to Wanneroo road the better, and I have always liked property close to golf courses.
 
MTR said:
Anywhere at this point in time, the larger the land component the better, the most desirable pocket is West Girrawheen, closer to Wanneroo Road.

Most blocks are around 698 sqm, my preference would be anything over 728 sqm, as you can fit three decent 3x2 villas, but this size land will be harder to find in this area.
Click to expand...

I have never been to Perth and do not know much about the suburbs, but based on your suggestion, are properties close to Girrawheen senior high school any good. I found one around 726sqm. They have not put an indication of price though.
 
rajnhets said:
I have never been to Perth and do not know much about the suburbs, but based on your suggestion, are properties close to Girrawheen senior high school any good. I found one around 726sqm. They have not put an indication of price though.
Click to expand...

HI Rajnhets
As I mentioned Girrawheen I believe is still good buying anywhere due to proximity to the city, it was brilliant buying at $300K its still OK at $400K+, there are very few suburbs this close to Perth this cheap and they aint making anymore land.

The better pockets are close to Wanneroo Road, but as long as you purchase a decent block, the larger the better it wont matter at the end of the day. Block size is good, they don't come along very often.

MTR:)
 
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