Not in Cloverdale. I have not had much interest in mine in 5 weeks. Overpriced?
Perth Property Market updates
- Thread starter Tano
- Start date
Maybe or oversupply?
Looks like I have a tenant lined up for a lease end in Gwelup that's in August. An applicant that missed out on the other Gwelup villa.
On the downside I found squatter evidence in my Highgate house which had tenants move out about 3 ago. Besides a broken window and door to gain access they are classy squatters and I suspect backpackers who have run out of money judging by the snow skis, couple of pairs of euro shoes and a couple of bikes. I'll spend the day tomorrow getting it empty again and arranging security.
Yes. Oversupply could be it too. I just ran a search on re.com.au for 3 beds in Cloverdale and surrounding suburbs. 226 total results. Not good
Yes. Oversupply could be it too. I just ran a search on re.com.au for 3 beds in Cloverdale and surrounding suburbs. 226 total results. Not good
Ouch. Totally different for me - only 4 houses in Gwelup for rent with 4 bedrooms. 36 in surrounding suburbs and Balga is included in surrounding but totally different market so really only 20 comparable houses.
I'd offer one week rent free to get someone in to yours or something like that.
Looking good for you in Gwelup.
That's a good idea about a week free rent. I have had that up for a week. I think it's time to drop the price.Yes. Oversupply could be it too. I just ran a search on re.com.au for 3 beds in Cloverdale and surrounding suburbs. 226 total results. Not good
Including surrounding suburbs doesn't really help you get an idea because the spread can be pretty large. But I just ran a search for 3 bedders for lease in Cloverdale only and came up with 30 results, which is a lot, even for this time of year...
I've got a Rivervale house coming vacant at the end of the year - not looking forward to the prospect!
something like...
http://www.realestate.com.au/property-house-wa-shoalwater-119967489
or
http://www.realestate.com.au/property-house-wa-hamilton+hill-119962877
heaps of choice for that money
You could buy 2 x houses in coodanup or Mandurah for that money that would yield 6-7% by the way.
I would rather have something in Rivervale than Cloverdale right now.
I was looking at Mandurah a bit. Do people commute to Perth for work from there or is Mandurah pretty much it's own CBD?
both actually.
when you drive down south on the Forrest Hwy you look all around you and it's paddocks and cows, then you look at your satnav and notice... holy cow... all those paddocks are already mapped out for subdivision. That area is set to absorb bulk population growth going forward. Was an eye opener for me when I saw that. A bit distressing also because apart from the pleasant outlook that will be ruined by a sea of 4x2's, the traffic congestion will end uplike the rest of the nightmare Kwinana fwy no doubt
Thanks for the comments, it's new stock supply in particular that turn me off places like Mandurah. Ideally what I am trying to do is buy a solid older home as close to the Perth CBD as possible and then stick a granny flat on it. Trying to get gross yield around 7.5-8%. Looking to spend about 600k all up to do it.
As I said, I know nothing about Perth but I don't like buying in areas with a lot of new supply coming in. It probably would put some price pressure on the stuff closer to the coast but even the new stuff further out isn't that much further really. For me it's not so much about the amount of land exposure but instead the quality of it.
That sucks, is it a good property?
it's all about the numbers. I heard about this one, was a good deal;
http://www.realestate.com.au/property-house-wa-coodanup-119847981
anyway let's get back to Perth...
Nice - clearly we are in the grips of a housing affordability crisis!
