I can't see this happening.
Yokine is one suburb closer to the city and have the same prices for units and townhouses.
I've been watching these two suburbs for about 6 months and notice more and more properties for sale and rent.
Perth Property Market updates
- Thread starter Tano
- Start date
I can't see this happening.
Yokine is one suburb closer to the city and have the same prices for units and townhouses.
I've been watching these two suburbs for about 6 months and notice more and more properties for sale and rent.
While I agree with you about more properties for sale and rents have dropped off.
Yokine isn't closer to the city than Tuart Hill however.
From Tuart Hill, you can sweep straight onto the Freeway from Cape St or anyone of the other slip roads.
The quickest option into the city from Yokine involves a battery of traffic lights to overcome.
Regardless it isn't even really closer as the crow flies and even if it was, the crow doesn't have to overcome traffic lights.
Tuart Hill still needs quite about of gentrification to happen before it becomes a sought after area imo.
Driving down Karrinyup towards Wanneroo road proves this.
That particular road is the border of Tuart Hill and Balcatta, the end of the suburb so to speak.
I'd be wary buying high end in Tuart Hill, they don't sell quickly even when they aren't readily available.
Entry level you can't go wrong though.
Tano, this has been in and out of the news since mid 2012. I was hoping that surely they couldn't stuff up Scarborough again, it has been a eyesore for the last 20 years. I have been seriously impressed with the MRA over the last couple of years with other projects and as soon as I heard they were taking over the redevelopment of Scarborough in conjunction with the Stirling council I punched the air.
$57 million for the redevelopment ($30 mill state+$27mill council), an extra $26 million state government has given City of Stirling that COS have allocated for a new pool and a private business $50 million Observation City upgrade that is nearing completion. The MRA is also relying on further private investment to complement their vision by releasing these plans.
After waiting for their community consultation and now the released draft plans I believe they have got it right, can't wait for work to start mid year. Mr Day mentioning provisions for light rail (ok it might be 2050 before it happens but at least they are talking about it) only adds to the vision. If only half of what is mentioned happens I'll be stoked.
After years and years of inner city suburb transformation in areas like Leederville, Maylands, Mount Lawley, Northbridge and North Perth I believe that more of us maybe heading to the coast again. Redevelopment occurring at City Beach, Scarborough, Trigg Island and Marmion research centre. What was old and un-fashionable is now the new thing. Everything works in cycles as we all know.
As Sanj said the transformation of the Perth cultural centre and the whole of Northbridge really is amazing. Family movie nights on the outside cinema, winter wonderland, upcoming fringe festival to name only a couple of initiatives has all led to a great place to hang up and meet with friends. Northbridge used to be in the news every weekend for all the wrong reasons now it is only every month or two something negative comes out. With the Perth City Link (WOW!!!!) and China town upgrades I believe it will only make this area a better place to visit and socialise.
MRA also doing the Subi (it needs it badly) and Midland revitalisation projects, Riverside and Claise Brook Village along with East Perth power station.
If the MRA announce a new area to target and you have investments in that area then start reading and doing some DD as I believe they will value add to your purchases.
See you down the beach, with your shark shields of course
MRA?
Thanks
z6
Agree with this.
Tuart Hill and Yoking sweet price is around $600-650K I believe there is always a demand for this product, though admittedly will probably take a little longer to sell now.
Higher end $800K was always harder to sell even when market was rising, smaller market for this product.
I grew up in Yokine I know the area very well.
If anyone is looking for a buy and hold, a unit sub $300,000 I think may be a good long term hold, key is to find one, not too many of these around, perhaps this is the product that the gurus are talking about??
my whole family grew up in Tuart Hill - Cape St.
we probably crossed paths as kids and didn't even know it!
we probably crossed paths as kids and didn't even know it!
Metro Redevelopment Authority - mra.wa.gov.au
Does anyone know what is happening with the MRA development on the eastern side of the city near the WACA? It's been sitting there for a while, just idle...
The timeline doesn't give much forward visibility on what's in the pipeline:
http://www.mra.wa.gov.au/projects-and-places/riverside/timeline
The timeline doesn't give much forward visibility on what's in the pipeline:
http://www.mra.wa.gov.au/projects-and-places/riverside/timeline
The earthworks need time to settle before building commences. Someone explained it to me but it went right over my head.
On a side note, the WACA West side development didnt go ahead due to lack of pre-Sales. Bit hard making sales when the future of the WACA is up in the air due to the new stadium being built over Burswood side of river.
Actually that fell over purely due to incompetence of the developer, imo future of waca had very little to do with it.
Can you elaborate on what went wrong and who was the developer?
Developer was ascot capital, they were always the wrong choice based on experience (or rather lack of). once the incompetent waca board decided what they wanted they shouldn't have joined up with a developer that has a good track record of pulling off projects on time and on budget. In perth that really means finbar and jvs are their bread and butter, as is east perth.
If the board had made that deal happen you'd have apartments close to finished by now if not completed already, instead you have absolutely nothing.
It's basic business decision making, why the hell would you appoint a developer with absolutely no apartment experience when trying to do something like this? Keep in mind the off the plan market has been extremely strong in petth the last few years and they still couldn't make it happen
The level of stupidity is impressive, everyone involved should be congratulated.
If the board had made that deal happen you'd have apartments close to finished by now if not completed already, instead you have absolutely nothing.
It's basic business decision making, why the hell would you appoint a developer with absolutely no apartment experience when trying to do something like this? Keep in mind the off the plan market has been extremely strong in petth the last few years and they still couldn't make it happen
The level of stupidity is impressive, everyone involved should be congratulated.
Apart from the possible reduction of games being played at the WACA, the position of the apartments in relation to the pitch is absolutely the pits.
Really who in there right minds can see the line of the ball watching at right angles to the pitch (square leg/point) outside the ground.
Thanks, am eagerly awaiting what they do.
On another note, I see there are areas in Perth where there are 'expensive' apartments yet still so many drugged up/trouble makers around the area.
I frequent the Burswood/Crown area (the parks and riverside), and nearly every time, I see meth heads around the station trying to start fights with guys/families etc. It's unfortunate as I love the park, but it can feel a bit dodgy at times.
I don't yet really understand the demographics of this area totally, but it seems rather odd? I read that a lady was also threatened with a gun in this carpark after witnessing some illegal activity. They are trying to build up the area as an entertainment precinct with resort style living, but there are a fair few people who just like to cause trouble here. I was also told by the cops that the service station at Burswood is also a haven for crime.
I know Rivervale/Belmont/Kewdale has a lot of crime (looking at WA Police website), however surely the proximity to the city should see this change? Perth is growing quite fast, so I would think that this gentrification would happen as it did in Sydney in areas like Redfern.
Unfortunately I can't find historical data for the crime rate in this area so I can't graph it to see how it has done over the boom/bust period.
The biggest issue Burswood has it that it is on the Armadale line.
Now they whinge money is being wasted
I remember seeing a surveyor picking up the whole Scarb beachfront about 3 years ago however I didn't realize it was linked (possibly).Tano said:
I don't really see the same problem at Mt. Lawley which is on the Midland line. However Midland station is not so pleasant. Some locals did offer me some of their alcohol once though...!
