Perth property listings - under 9,000

[MTR]

Here's another that I just received, not advertised yet

Westminster, 764 sqm, 27.3 front, $515,000, 4 Princess Street
That is a reasonably busy road, but nothing comes on the market in Westminster, almost nothing.

Not sure whether the figures would stack up, seems expensive, every time I say that it goes for more?? Go figure in this market, as I have said mention the word 'development' and everyone jumps at it.

 

[wealth]

City of Belmont - Multi-Res Sites land value is between $80k-$100k a dwelling. This is too hot!

Lots of happy clients, but it's going to come back a bit. I still see some undervalued areas/sites based on scheme amendments not widely known to the market.

Kent, I haven't found any multi-res sites in Belmont for approx $80k a dwelling. They seem to be at $100k plus a dwelling. I know a few developes in the areas who have snapped up some of the blocks before they even hit the market!

 

[INVSTOR]

look I haven't completely decided if I think the east is over priced or the west is underpriced. and your point about the $500k extra is entirely correct... it is common in a lot of markets that value is exponentially better as you get away from the 'mass market' - for $2m you can buy b grade river front in Dalkeith!

i'll reflect on your value question, however when I see new 3x2 villas going in areas like Mandurah and midland for $300-350k... yeh not sure....

I was reflecting last week that half a million really doesn't get you much. I would consider living in Maylands, visiting cafe's or river. I occasdionaly shop at Midland but wouldn't live there or hang around for a coffee. I'd prefer to retire at Mandurah, too far to travel to work just yet, and schools could be an issue.
I was thinking of downsizing, but like you say, there is better value in higher priced property do it probably isn't worth it. I've shut off two bedrooms, might use them one day?

 

[jacko18]

This Spearwood development just got listed, apparently already got a cash offer on the table for $600,000, I think it will go over as there are many interested, when I find out sale price will let you know. I would not pay more than $600,000.

http://www.realestate.com.au/property-house-wa-spearwood-114829795

Yeah I'd like to know ,very close to mine falstaff crescent mines bit bigger

Do you think it makes it worth more when you have a lovely park directly over the road

 

[MTR]

Yeah I'd like to know ,very close to mine falstaff crescent mines bit bigger

Do you think it makes it worth more when you have a lovely park directly over the road

Your location is better, though because you have the open space Council has restrictions on what you can build, I think you need a mix of double storey homes, you need to check that is the only downside. I would expect your units/villas would fetch more as long as the spec is good.

Cheers
MTR

 

[jacko18]

This Spearwood development just got listed, apparently already got a cash offer on the table for $600,000, I think it will go over as there are many interested, when I find out sale price will let you know. I would not pay more than $600,000.

http://www.realestate.com.au/property-house-wa-spearwood-114829795

Your location is better, though because you have the open space Council has restrictions on what you can build, I think you need a mix of double storey homes, you need to check that is the only downside. I would expect your units/villas would fetch more as long as the spec is good.

Cheers
MTR

Yeah I think I have to have one double story in tripplex

I was talking to real estate he said stay way from double story if can ,but was cause there's not much comparable sales

He thought late. 400 maybe 500 for villas, but because he did not have comparable he thinks mid 500 for double storey maybe 600

With the spec what is good

 

[MTR]

Yeah I think I have to have one double story in tripplex

I was talking to real estate he said stay way from double story if can ,but was cause there's not much comparable sales

He thought late. 400 maybe 500 for villas, but because he did not have comparable he thinks mid 500 for double storey maybe 600

With the spec what is good

Yes, I agree very difficult to find comparables regardless whether double storey or single, as I have said before there is very little competition in the area and I understand there is a demand for this product, I like this scenario. Aging population, downsizing.

A couple of months ago now I was tracking a villa which had major high voltage power lines next to it, I thought it would not sell, sold for $485,000 within 2 weeks. I am sure if it did not have the power lines it would have sold in the $500s.

 

[jacko18]

Yeah sounds good can you tell me what the spec would have to be like for area please mtr

 

[jacko18]

Pm if you like taking over thread with me quiestions

 

[Lynchy]

My mum has justy sold her 4 bed, 2 bath house in Kensington for $980,000. Crazy to think just 20 years ago she purchased it for $80,000 with a FHB of $7,000. One of her friends, still in kensington purchased for $30,000 about 25 or 30 years years ago, her place is worth well over $1 million now

 

[Blair007]

http://m.spearwood.ljhooker.com.au/2K1G59

New to market retain and build for those interested.

 

[Blair007]

Left access looks a little tight for driveway? I guess you would have to knock the garage down - is that expensive?

 

[Jake D]

Left access looks a little tight for driveway? I guess you would have to knock the garage down - is that expensive?

Non-mobile link

Garage under same roof. Would require a bit of work. And then the front property would have no garage.

 

[MTR]

http://m.spearwood.ljhooker.com.au/2K1G59

New to market retain and build for those interested.

Property has been painted and new carpets. Requires some work but nothing major.
751 sqm block
4 metre clearance
They are expecting it to sell $520,000 - $550,000, lots of interest though

3x2 new build at rear should sell for around $520,000.
Building costs for rear (turnkey) good spec $200,000 + 25,000, any other costs?

Removal of garage $10,000??, new carport $$8000??

 

[Blair007]

Property has been painted and new carpets. Requires some work but nothing major.
751 sqm block
4 metre clearance
They are expecting it to sell $520,000 - $550,000, lots of interest though

3x2 new build at rear should sell for around $520,000.
Building costs for rear (turnkey) good spec $200,000 + 25,000, any other costs?

Removal of garage $10,000??, new carport $$8000??

I actually contacted this agent as you mentioned him being a good agent for development blocks in this area MTR. thanks by the way

say 550000 for purchase, 250,000 for build subdivision carports. 50000 for contingencies. thats 850000, both houses valued at slightly over 1mil so 20% profit there.

still need to get finance sorted before i can make next purchase but happy to know that there are still good deals out there.

Something that i have learned through the forums is that looking on real-estate.com.Au only will not find you the right properties, you need to contact agents let them know you are interested and find your deals that way.

 

[Rixter]

Something that i have learned through the forums is that looking on real-estate.com.Au only will not find you the right properties, you need to contact agents let them know you are interested and find your deals that way.

Correct Blair007. Its all about building your team of industry professionals around you. You are the entrepreneur.

 

[Ausprop]

Stock levels dropped again this week: 9,081 (18 Sep 13)

mostly in houses it seems. Land will be just sitting there waiting for the fhog changes to come in

 

[INVSTOR]

Stock levels dropped again this week: 9,081 (18 Sep 13)

mostly in houses it seems. Land will be just sitting there waiting for the fhog changes to come in

Possibly October
http://www.finance.wa.gov.au/cms/content.aspx?id=393

 

[MTR]

I hope the news regarding WA losing AAA rating will not impact on the property market, I didn't see that one coming, I actually doubt it, but its not great, first the mining boom is slowing down now this.

Nonetheless, I remain very optimistic that it wont be enough to stall the market, especially while IR remain at an all time low, just locked in at 4.6%

 

[Ausprop]

As Gottliebsen said today "Last night?s continuation of American quantitative easing means Australians are going to enjoy further share market rises and faster increases in dwelling prices. However in the longer term a prolonged extension of American quantitative easing becomes a more dangerous game for the world because there are at least three global bubbles that could be created. One is our housing market."

It's started in western Sydney and will soon roll out to a town near you. Stocks and real estate speculation - a one way bet for some time to come. Load up!

oh... and compounded by the joyous position of a rising AUD which will force the RBA to cut rates to save our miniscule manufacturing capacity. Low inflation, high purchasing power for the AUD, cheap IRs and rising property market. Will be a golden time while it lasts