Perth ugly ducklings??

[z611143]

REA would suggest Kardinya has already skyrocketed in price the last year or so. Coolbellup still cheaper i think is an area to target.

What are peoples thoughts on Quinns?

median of 495k with neighbouring suburbs Mindarie 695k and Jindalee 686k acc REA.

Surely has some big upside. 35 mins from CBD.

 

[MTR]

REA would suggest Kardinya has already skyrocketed in price the last year or so. Coolbellup still cheaper i think is an area to target.

What are peoples thoughts on Quinns?

median of 495k with neighbouring suburbs Mindarie 695k and Jindalee 686k acc REA.

Surely has some big upside. 35 mins from CBD.

Coolby has also skyrocketed, and has lower end value, zoning is still got a way to go, could be a few more years off, but still worth looking at I think.

Quinns, I like the fact that surrounding areas are higher, any development sites in this area or opportunities to add value?

What about Craigie, I know this has taken off big time, but zoning is in the pipeline, I have not looked closely at this area but once again surrounding areas are higher I think??

I have been focusing on the southern corridor over the last 12-18 months, perhaps others can shed more light on the northern corridor.

 

[D.T.]

What are peoples thoughts on Quinns?
35 mins from CBD.

At 3am in a Ferrari maybe?

 

[Jamie_]

At 3am in a Ferrari maybe?

This.
38km's from CBD. Any time between 6-10am and 3-6pm and you're looking at an hour/hour and a half easy.

 

[Catalyst]

Quinn's Rock is south of Geraldton, no?

 

[DexV2]

Congratulations on your purchase.

Depending on land component with R40 you can also build x number of apartments, another bonus.

think the location, in particular Willagee is brilliant though it started rising 2 years ago, but I believe still lots of steam, because as I mentioned surrounding areas like Melville, Palmyra and way more expensive. Willagee has surpassed Spearwood, Hammy Hill purely because of the central location, distance to Freo etc.

My thought are the same for Willagee.
Took a look the the Arkwell houses, dad was very interested cause of the number of apartments that could be made (can't recall the exact number). But once we saw that it was on quite a deep down slope, interest was loss.

 

[DexV2]

What about Thornlie (proposed rezoning), Maddington (affordable large pieces of land)?

 

[MTR]

What about Thornlie (proposed rezoning), Maddington (affordable large pieces of land)?

End values in Maddington too low, build costs stay the same, makes no sense to buy for development IMO. Also don't like the fact that there are lots of land and house packages, that's the competition and not an attractive market for selling, my thoughts. Also perhaps an issue with clay in this area??? not sure, but I think have heard this, another reason to stay clear.

Thornlie, probably a better option, but just looking at the pricing unless you can retain the property and build at rear, I think once again end value not good enough.

That's why Willagee is so attractive, build costs don't change, however end value much much higher, more $ in your pocket/larger % of profits.
I like the areas where there is pent up demand.

 

[z611143]

Coolby has also skyrocketed, and has lower end value, zoning is still got a way to go, could be a few more years off, but still worth looking at I think.

Quinns, I like the fact that surrounding areas are higher, any development sites in this area or opportunities to add value?

What about Craigie, I know this has taken off big time, but zoning is in the pipeline, I have not looked closely at this area but once again surrounding areas are higher I think??

I have been focusing on the southern corridor over the last 12-18 months, perhaps others can shed more light on the northern corridor.

Development? Its already happened in Jindalee/Yanchep in regards to genetrification (Macdonalds, Masters, Supermarkets ect). The rail line and train stop at Butler, Quinns is the coast side of Butler basically. Obviously the freeway will continue extending.

It also has elite restaurants like portofinos which overlooks the water with no road between restaurant and ocean. Rare these days. I just see it being the next hillaires, mullaloo, mindarie.

Oh also how do you know which suburbs have R zoning in the pieplines ect? Through council plans?

Cant they get knocked back? As in not gone ahead with.

At 3am in a Ferrari maybe?

Obviousily im not taking into consideration traffic or peak times. I dont for any suburb i base it off what the fastest time google maps says from CBD to "X suburb".

 

[z611143]

Is Belmont an ugly duckling that could once be something nice. Is it too boogy?

I believe there are better areas than others is Belmont.

 

[westminster]

Is Belmont an ugly duckling that could once be something nice. Is it too boogy?

I believe there are better areas than others is Belmont.

Belmont has been red hot this year and probably done an Icarus and flown to close to the sun and burnt itself. Huge over supply coming in the pipeline with prices no longe feasable I reckon.

 

[spanna]

Quinns has rezoning in the pipeline. Look on the city of Wanneroo website under planning..... Personally I think areas just north of Cragie like Beldon, Heathridge ect could do well... I know a few of my friends have just purchased in these areas and others rent (all mid 20s) I like to look at my friends as a guide to what the general population of first home buyers can afford/ areas they try and get into / think are up and coming!

These are PPORs and surly an influx of young couples who renovate and beautify these homes will have a positive impact on the area.

 

[jezza888]

REA would suggest Kardinya has already skyrocketed in price the last year or so. Coolbellup still cheaper i think is an area to target.

What are peoples thoughts on Quinns?

median of 495k with neighbouring suburbs Mindarie 695k and Jindalee 686k acc REA.

Surely has some big upside. 35 mins from CBD.

Quinns is a great suburb. I've lived there for almost a year now. Brought a 932sqm block which is in the R60 rezoning and has good ocean views (180 degrees from second storey).. Picked it up for a steal and if all else fails, i can put a driveway up the side and do a battleaxe subdivision. The only downfall is that the code change is still +3yrs away... but i wanted a PPOR for my family in the meantime so im cashing in on both ends

Quote:
Originally Posted by D.T.
At 3am in a Ferrari maybe?

This.
38km's from CBD. Any time between 6-10am and 3-6pm and you're looking at an hour/hour and a half easy.

You can get to the CBD @ 7am in about 50mins. Hour and a half would be worse case scenario with an incident on the freeway.

 

[jezza888]

Quinns has rezoning in the pipeline. Look on the city of Wanneroo website under planning..... Personally I think areas just north of Cragie like Beldon, Heathridge ect could do well... I know a few of my friends have just purchased in these areas and others rent (all mid 20s) I like to look at my friends as a guide to what the general population of first home buyers can afford/ areas they try and get into / think are up and coming!

These are PPORs and surly an influx of young couples who renovate and beautify these homes will have a positive impact on the area.

I think heathridge would be a good little performer in the future. A heap of older style houses on good size blocks (+700sqm) with a zoning change in the pipeline. It has edgewater train station and has a flyover freeway bridge which takes you almost into the heart of joondalup witht he hospitol and ECU. Also not too far from the beach (ocean reed & mullaloo both sit west of the suburb). Joondalup resort and golf course is to the north. A great little pocket of area IMO.

I've been reconsidering over and over again landbanking a 3x1/3x2 and putting a portable granny flat at the back to rent to uni students. The only thing which deter'd me was the fact the rental market lost steam and im trying to score a larger development site atm.

 

[MTR]

Belmont has been red hot this year and probably done an Icarus and flown to close to the sun and burnt itself. Huge over supply coming in the pipeline with prices no longe feasable I reckon.

Yep for sure, also areas such as Redcliffe, Cloverdale were brilliant if you got the timing right, too many developers in this market and most certainly will be an oversupply. Apartments popping up everywhere.

 

[z611143]

Quinns is a great suburb. I've lived there for almost a year now. Brought a 932sqm block which is in the R60 rezoning and has good ocean views (180 degrees from second storey).. Picked it up for a steal and if all else fails, i can put a driveway up the side and do a battleaxe subdivision. The only downfall is that the code change is still +3yrs away... but i wanted a PPOR for my family in the meantime so im cashing in on both ends




You can get to the CBD @ 7am in about 50mins. Hour and a half would be worse case scenario with an incident on the freeway.

You wouldve killed it with that block. Certainly a chance to build more houses on.

Can i ask how much is a steal a year ago ofr a 932sqm block with R60 zoning?

 

[Catalyst]

Auction

Attended my first auction today. Was expecting a bidding war.....but only buyer in action. Not worth getting popcorn for

REA started at $560k, no takers. He increased it to $580k. 1 bid. Then he increased it to $600k. Same bidder. He increased it again to $610k. Same bidder.

Then he disappeared into the house to speak to seller. After about 10 mins, he tried to increase to $615k. Nothing.

He closed it off by saying he would look at other prospective parties who weren't there at auction.

I wonder what's going to happen next?

http://www.realestate.com.au/property-house-wa-willagee-118005499

 

[D.T.]

Lol same bidder at all 3 bids? Why didn't he stay at the first one? Most in that suburb fairly quiet?

 

[Singo]

The next lot which seems similar in size definitely has 3 houses on it. So this is can be subdivided into 3 as well.

Seems that some money can be made there. Probably WM or MTR can run the numbers and enlighten us?

 

[westminster]

The next lot which seems similar in size definitely has 3 houses on it. So this is can be subdivided into 3 as well.

Seems that some money can be made there. Probably WM or MTR can run the numbers and enlighten us?

It can't be subdivided into 3 until new zoning goes through to make it R40. I don't know why/how next door has 3 on it - it's out of character for the area. It is currently R20 same as the blocks around it.

At 17.1 width it's quite a skinny block - 18m+ is more normal for triplex blocks but can be managed. It is longer to make up for it, and at 759sqm it's bigger than the 728s found in many other suburbs.

Sewer line is just within the rear boundary so you would need to leave 3m plus from it or put in piling if you want to build 1.5m away from it.

If we budget $700k for building a triplex turnkey including headworks and assume the sellers want $650k for it - total is $1.35m for a single storey triplex development.

Total Development Cost (not inc holding) for each villa would be $450k each.

End value? You'd want it to be minimum $540k to get 20% gross profit. 30% would be better and that would need a $585k end value