"Perth property in freefall"

[MIW]

i dont think it will in the near future

You don't have a crystal ball, do you?

 

[MIW]

there will nearly always be a chance to make money. perth has been flat for a few years now but plenty of properties have done well in the last 2 years. ask anyone who bought a duplex block in bedford or morley in 2009?

im still fairly inexperienced in comparison to a lot of the posters here yet ive had some pretty good results in WA property in the last 18 months. it is far from all doom and gloom. im definitely looking to buy more once some property im selling/have sold settles

Good on you sanj, I like your mentality, let's do not follow the the herd mentality crowd, but stick to your reseach and what has worked for you....

 

[Aaron Sice]

Gee Aaron, so what's the decision behind that?

old post.

was to get access to my equity to start developing, interest was 10x more than neighbouring properties but not one offer.

**** salesperson, if you ask me - not being able to convert a sale in that lot. my bad for making the choice.

sitting tight for the moment. may have a foot in the door that doesn't involve selling the house, maybe just accessing a tiny bit of equity through a small LOC, preferably not though but we will see how it pans out.

listings are way down - around 13,500 now versus 17,500 about 6 months ago.

 

[gooram]

old post.

was to get access to my equity to start developing, interest was 10x more than neighbouring properties but not one offer.

**** salesperson, if you ask me - not being able to convert a sale in that lot. my bad for making the choice.

sitting tight for the moment. may have a foot in the door that doesn't involve selling the house, maybe just accessing a tiny bit of equity through a small LOC, preferably not though but we will see how it pans out.

listings are way down - around 13,500 now versus 17,500 about 6 months ago.

I recently sold up in a northern coastal suburb. We sold ours with "Set Date Sale" which in hindsight was a good choice.
Not sure if you're familiar but it meant we didn't have a price attached, it was a "make us an offer" arrangement. After 4 weeks we had some very low offers that we didn't take, but it did give us an indication of where the price had to be for us to sell it.
After the set date was up, we put it on the market at a price based on the feedback and it sold in two weeks.

Let me know if you want me to put you in touch with the agent, but it sounds like the ship has sailed?

 

[Aaron Sice]

Let me know if you want me to put you in touch with the agent, but it sounds like the ship has sailed?

thanks Gooram - but yes - ship has sailed (saled? )....

 

[INXS]

Just had bank valuation on my PPR in Jindalee (Perth). Property has gone up in value 19% to $750,000 in the last 18 months since we built. And as with all bank valuations it's conservative and you could easily add $50,000 to that. Can't wait for the good times to start!!.

 

[Rixter]

Just had bank valuation on my PPR in Jindalee (Perth). Property has gone up in value 19% to $750,000 in the last 18 months since we built. And as with all bank valuations it's conservative and you could easily add $50,000 to that. Can't wait for the good times to start!!.

Gotta luv property.

Whats your plans for the valuation needed?

 

[INXS]

Gotta luv property.

Whats your plans for the valuation needed?

Rixter we are buying land in Eglington ( just north of Alkimos) to build another coastal investment property. The Jindalee property while being our PPR was also an investment as we strategically saw the opportunity to upgrade to a better house and location and make some quick equity we could use for future investments. Plan to accumulate a few more if I can before the media start producing good news stories about the economy. The GFC creates so many opportunities because 99% of the population think there are no opportunities out there.

 

[Rixter]

Rixter we are buying land in Eglington ( just north of Alkimos) to build another coastal investment property. The Jindalee property while being our PPR was also an investment as we strategically saw the opportunity to upgrade to a better house and location and make some quick equity we could use for future investments. Plan to accumulate a few more if I can before the media start producing good news stories about the economy. The GFC creates so many opportunities because 99% of the population think there are no opportunities out there.

Thats it. Do the opposite to the herd.

 

[Ergophobia]

Thats it. Do the opposite to the herd.

suddenly those discounted house and land packages on the fringes arent looking so bad. I could do with 50k cash back and a new fishing boat

 

[INXS]

suddenly those discounted house and land packages on the fringes arent looking so bad. I could do with 50k cash back and a new fishing boat

I would stay clear of those. Just buy land that you can see is undervalued compared to what is for sale around it. (that is usually still way overpriced even when taking in to account, cash backs, fishing boats, cars etc etc etc).

 

[catcha]

Hi all,

i'm wondering about opinions on this property. I have a max budget of 500k but these seem ok looks a bit small. What attracts me to this is its not a Villa no sharing driveway etc. Close to Morley Shopping and Bus station. I see it as a bit of a growth area and good long term investment. Ideally I would like to live near a train station, eg Baywater or Maylands. But I know it will exceed my budget. I intend to purchase to PPOR.

http://www.realestate.com.au/property-house-wa-morley-109361381

 

[sanj]

im a fan of morley but if youve got 500k to spend youre much better off getting a renovated older home on a subdividable block where you can retain the front home

even though it is for your PPOR and you might not be thinking about the profit/financials now (talking about growth areas indicates that you are) it gives you a bit more flexibility

in terms of bedford - you would struggle to get a front home for that money although it is occasionally possible, main reason is the zoning

if you buy well you can certainly get within your budget in maylands but nothing with development potential. i believe it is the same with bayswater but ive got no first hand experience there whereas i know morley, maylands and bedford from personal experience

 

[Piston Broke]

Yeah, things are doing great in Jindalee area

05/10/2011 Online Listing - Agent House ALL OFFERS PRESENTED
02/09/2011 Online Listing - Agent House From $670,000
31/08/2011 Online Listing - Agent House From $670,000
11/05/2011 Online Listing - Agent Unknown Neg From $725,000
10/05/2011 Online Listing - Agent House Neg From $725,000
http://www.onthehouse.com.au/report...986/58_Belhaven_Terrace_QUINNS_ROCKS_WA_6030/


Date Type Publication Property Type Price
17/08/2010 Online Listing - Agent House From $649,000
03/08/2010 Online Listing - Agent House From $699,000
26/07/2010 Online Listing - Agent House From $699,000
07/07/2010 Online Listing - Agent House From $719,000
05/07/2010 Online Listing - Agent House From $719,000
http://www.onthehouse.com.au/report...695/14_Dartmouth_Circle_QUINNS_ROCKS_WA_6030/


02/03/2011 Online Listing - Agent Unknown Neg From $423,500
07/02/2011 Online Listing - Agent Land Best Offer over $450,000
28/01/2011 Online Listing - Agent Unknown Best Offer over $450,000
26/01/2011 Online Listing - Agent Land Best Offer over $450,000
16/01/2011 Online Listing - Agent Unknown Expressions of Interest
http://www.onthehouse.com.au/reports/property_profile/8507715/1_Dotterel_Green_JINDALEE_WA_6036/


01/11/2011 Online Listing - Agent Unknown From $599,000
10/10/2011 Online Listing - Agent House $599,000 TO $620,000 neg
08/10/2011 Online Listing - Agent Unknown From $620,000
07/10/2011 Online Listing - Agent House From $620,000
02/10/2011 Online Listing - Agent Unknown From $620,000
http://www.onthehouse.com.au/reports/property_profile/8730324/4_Stingray_Way_JINDALEE_WA_6036/


06/03/2009 Online Listing - Agent Land From $379,000
26/02/2009 Online Listing - Agent Land From $379,000
14/01/2009 Online Listing - Agent Land From $379,000
01/12/2008 Online Listing - Agent Land From $399,000
21/11/2008 Online Listing - Agent Land From $429,000
http://www.onthehouse.com.au/reports/property_profile/49023/7_Moonraker_Road_JINDALEE_WA_6036/

Even the dodgy "median" which is biased on the forever increasing side doesn't agree

 

[INXS]

Yeah, things are doing great in Jindalee area

05/10/2011 Online Listing - Agent House ALL OFFERS PRESENTED
02/09/2011 Online Listing - Agent House From $670,000
31/08/2011 Online Listing - Agent House From $670,000
11/05/2011 Online Listing - Agent Unknown Neg From $725,000
10/05/2011 Online Listing - Agent House Neg From $725,000
http://www.onthehouse.com.au/report...986/58_Belhaven_Terrace_QUINNS_ROCKS_WA_6030/


Date Type Publication Property Type Price
17/08/2010 Online Listing - Agent House From $649,000
03/08/2010 Online Listing - Agent House From $699,000
26/07/2010 Online Listing - Agent House From $699,000
07/07/2010 Online Listing - Agent House From $719,000
05/07/2010 Online Listing - Agent House From $719,000
http://www.onthehouse.com.au/report...695/14_Dartmouth_Circle_QUINNS_ROCKS_WA_6030/


02/03/2011 Online Listing - Agent Unknown Neg From $423,500
07/02/2011 Online Listing - Agent Land Best Offer over $450,000
28/01/2011 Online Listing - Agent Unknown Best Offer over $450,000
26/01/2011 Online Listing - Agent Land Best Offer over $450,000
16/01/2011 Online Listing - Agent Unknown Expressions of Interest
http://www.onthehouse.com.au/reports/property_profile/8507715/1_Dotterel_Green_JINDALEE_WA_6036/


01/11/2011 Online Listing - Agent Unknown From $599,000
10/10/2011 Online Listing - Agent House $599,000 TO $620,000 neg
08/10/2011 Online Listing - Agent Unknown From $620,000
07/10/2011 Online Listing - Agent House From $620,000
02/10/2011 Online Listing - Agent Unknown From $620,000
http://www.onthehouse.com.au/reports/property_profile/8730324/4_Stingray_Way_JINDALEE_WA_6036/


06/03/2009 Online Listing - Agent Land From $379,000
26/02/2009 Online Listing - Agent Land From $379,000
14/01/2009 Online Listing - Agent Land From $379,000
01/12/2008 Online Listing - Agent Land From $399,000
21/11/2008 Online Listing - Agent Land From $429,000
http://www.onthehouse.com.au/reports/property_profile/49023/7_Moonraker_Road_JINDALEE_WA_6036/

Even the dodgy "median" which is biased on the forever increasing side doesn't agree

Just shows you how well I had bought then!. People who get caught up in suburb statistics and dismiss areas on this basis are missing opportunities. It's about markets within markets and doing your due diligence. I purchased my land in Jindalee in 2009 at $380,000.00. Now valued at $450,000.00 as per the bank valuation. Other people who purchased land at the same time in the suburb would have lost money. It's all about knowing an area so well you can see the great buys when they come along.

Piston Broke also looking at the graph you have posted, I suspect this is not the correct information for Jindalee WA, so it may be a good idea to check this. Relying on a few hand picked sales and a dodgy graph are no way to do research or comment on an area.

 

[Piston Broke]

Of course it's not correct if it doesn't show your view of the world.
What it clearly shows is that buyers are NOT getting what they thought their property was worth.

 

[Rolf Latham]

What it clearly shows is that buyers are NOT getting what they thought their property was worth.

no capiche ?

ta
rolf

 

[Ergophobia]

06/03/2009 Online Listing - Agent Land From $379,000
26/02/2009 Online Listing - Agent Land From $379,000
14/01/2009 Online Listing - Agent Land From $379,000
01/12/2008 Online Listing - Agent Land From $399,000
21/11/2008 Online Listing - Agent Land From $429,000
http://www.onthehouse.com.au/reports/property_profile/49023/7_Moonraker_Road_JINDALEE_WA_6036/

am i reading this right?

Date Publication Property Type Price
09/09/2011 Agent Advised Sale Land Contact For Price
13/08/2011 Agent Advised Sale Land Contact For Price
01/07/2011 Agent Advised Sale Land Contact For Price
15/04/2011 Agent Advised Sale Land Contact For Price
16/06/2009 Agent Advised Sale Land
09/04/2009 Agent Advised Sale Land
19/03/2009 Agent Advised Sale Land


This block dropped until sold in March 09, then changed hands 6 times?

Last listed price 379k, now OTH says its worth 661-841k still with no house on it?

id say 100% in 2 years is pretty good

 

[Aaron Sice]

Of course it's not correct if it doesn't show your view of the world.
What it clearly shows is that buyers are NOT getting what they thought their property was worth.

land versus house prices.

stay east....

 

[Piston Broke]

Obviously this is the Rocket scientists's corner.
Property in WA is not booming.
REAs do not disclose prices for that reason, is does NOT backup their "property always goes up" BS.

They did the same in SEQ in the 90s when falling prices were never spken about and even API would report other states except QLD.