Perth property listings - under 9,000

[MTR]

Ausprop
Do you still follow the Mandurah market?
If so how do you see it at present?
The rents have held though and l still get regular 6 month increases. Yields still crap.
I have noticed a lot of props selling the past 6 months but prices haven't moved at all.
My friend purchased an apartment last month 965k the previous owner paid 1.5 mil . ( that's pain )
My last ip purchase is still prolly 20 k under what l paid for it. (2007 -that's stupidity)
Seems to be a lot of building still going on but more so on the outskirts of town.
It's a difficult market to gage for me at the moment so would appreciate any input from anyone.
Cheers
Yadreamin

I think its not that great, pretty flat, still an over supply. Rents have now bottomed out.

Not sure when this market will move, but while there is too much stock it will continue to do nothing iMO.

 

[Jess Peletier]

I hope your friend is aware of the Dept Housing in Madora Bay.

Haha - I live in Madora Bay, are you talking old Madora or new?

We definitely have a few bogans but not more than anywhere else down this way I don't think. We're in old Madora and love it.

 

[Aaron Sice]

Madora New.

 

[perthguy]

When we are talking low rise, are we talking about these 2 by 1 ghetto new builds that go either side of the $400,000 mark in places like Joondanna, Tuart Hill etc?
They are horrible.

I wasn't impressed with them going up all over the place around my area. However, I ran into someone who bought one in Rivervale and was lucky enough to be offered the chance to inspect it. This was a 1x1 though, not a 2x1. I thought it was really great, and the owner is stoked with it (owner occupier). Inside, the layout felt fairly spacious. It was certainly not like the old 70's and 80's block of flats. The build quality was really impressive. He has a builder mate who did his final inspection for him and they didn't pick up any faults at all, which is amazing in itself. There has been some big parties in the complex and he said the noise in his place was minimal, which is good. The whole complex had a pretty good vibe and it's certainly a cheap way to buy into an expensive suburb in a well located building. I changed my mind after seeing that. I must say I'm a lot more supportive of the whole concept, providing they are suitably located.

 

[Ausprop]

yes I still follow Mandurah, with rents around 6.5% it is still a great investment and I can't see much new stock coming on at current prices, so I think it is all upside from here. there was a capital growth spurt late last year but it seems to have given up some of that and softened a bit. For my properties they are just not worth selling with such high yields and such little equity, so I will just forget about them for 20 years. Actually my development is built strata so I think I will convert to survey strata and prepare for redevelopment in 20 years under R60.

 

[yadreamin]

Thanks for the replies on the Mandurah market. it really is as flat as a pancake.
Yes anything under 450k seems to sell quickly. The high end stuff getting very stale.
I was having a look around the South Harbour yesty and surprising enough the last few remaining blocks have finally got some building going on them after all these years. They are not big developments, that market is well and truly at a standstill.
Not sure when the big complex at Silver Sands is due to start, if it does at all.
oh well l guess l will just go back to sitting on the sidelines and waiting,waiting
cheers
Yadreamin

 

[Ausprop]

just yield it yadreamin, prices can't stay so ridiculously low forever. Must be some of the cheapest real estate in the country