Perth suburbs

[brains]

Does anyone in the west have an opinion in purchasing IPs in the Perth suburbs of Parmelia and Orielia?

The rental returns are about 8-9% at the bottom end of the market which is fine, but its the future cap. growth potential id like opinions on.

Thanks

 

[stretch]

Gday brains,
Im from Perth as well and feel that Parmelia and Orelia are pretty dodgy. No doubt that due to infalation etc that the property prices will rise, however they haveny really moved much over the past three to four years while everywhere around it has done well. Maybe this could be the calling?

HAve heard that homeswest were cleaning the area up etc
They are close to industry, however the stench may be a bit hard for people to put up with living there etc, which may make it hard to sell if ever you need to.
Im keen on doing a bit more research in the Perth area myself, a bit hard at the moment as Im living in Kal.

What other area have you been researching? and have you found anything that may be of interest?

 

[brains]

Stretch,

Thanks for the info, whats the stench from?

I havnt really come up with anything else over there (im in NSW).
A friend mentioned the area to me, saying that Rockingham has increased and Quinana is lagging behind but rising quickly.

Any other areas of Perth worth looking at?

 

[stretch]

Gday mate,

The stench is from all the factories and the smelters in the area, it really is pretty undesirable. Rockingham is ok, we have friends that live down there, and you have to make sure that your windows are up when driving through kwinana. Perth has heaps of opportunities, we bought a place in Bicton on the Swan in May 2001 for $460K and is now worth over $700K.

I noticed another discussion in this forum on Perth title Whats happening in Perth? I had a quick read and there is some good goss in there.

Cheers

 

[brains]

I'll check it out, thanks

 

[D.T.]

I'm from Perth, those 2 suburbs you mentioned are receiving ok yields, as long as ya have tennants. I know someone who owns a unit in Orelia, and has quite a bit of security on it because apparently theres some crime in the area - so tennants naturally like the secure properties.

As for growth, there is a train line being built from Perth to Rockingham. I havent seen the plans yet myself, but im guessing it'd need to go thru those areas which will make them more accessible which in turns affects their value. However, im uncertain whether the values have already been affected from this or if its still going to happen. Previously they were fairly flat.

Kwinana (not quinana) is an nearby area that has alot of factories / smelters. This is good for tennant employment prospects. I haven't been down that way in a while, so I can't confirm the stench.

Hope this helps some.

 

[itinerantotter]

I'd be really careful investing in Orelia/Parmelia; I've been looking in the area, but I can't bring myself to take the step.

The yield looks good IF you can acquire decent tenants. But I have definite reservations on two counts: the aforementioned stench from Kwinana industry,and the crime in the area. Bus drivers have just refused to drive through these suburbs as buses have been attacked and had their windows broken by missiles - sounds more like Baghdad!

As I say, I've been on the prowl down there, but have just bought another IP in Rockingham instead.

cheers, otter

 

[brains]

hi itenerant otter

Thanks for the reply.

Do you thinks theres much growth in Rockingham in the future?
Can you pos. gear there?

 

[itinerantotter]

I think there's much more growth to be had in the Rockingham area. Lots of development going on. There's also the future train line from Perth to consider.

As for +tive properties, that's another story. The place I've just bought is in Hillman, right next to Rockingham and it's +tive (just to offset all the -tive stuff we're holding). Close to the R'ham campus of Murdoch Uni and the TAFE, good primary school. Coolongup and Safety Bay would be worth a look for +tive IPs. Warnbro and Port Kennedy, where I've also been looking, would probably be -tive. Guess the rule is: the waves rule!!!

Cheers,

 

[Bulldog]

Did anyone see this story in the WEST yesterday?

http://www.thewest.com.au/20030403/news/perth/tw-news-perth-home-sto93670.html

I found the following quote quite interesting!!

"The south-west and Peel sectors - including Mandurah, Murray, Cockburn, Rockingham and Kwinana - are tipped to dominate growth in the next five years, accounting for more than 40 per cent of activity and taking the lead from the north-west.

By comparison, population in the inner and middle suburbs - including Fremantle, Claremont, Cambridge, Perth, Victoria Park, Stirling, Bayswater, Bassendean and Melville - will grow by only 4 per cent."