Perth?

B

beejay

Hello.
I have a question regarding the residential property market in perth.
Is it the wrong time to buy residential property in Perth?

All the so called experts on t.v. and radio etc are saying the property market has gone as far as it can.

My "feeling" is that it relates more to the east coast than it does to our nice little isolated Perth.While I realise that prices have increased significantly over the last 2 years I'm not sure that buying now will cause major heartache if it is kept for the longer term.(10yrs or more)

Any thoughts would be appreciated.
Cheers
Brett
 
Hi Brett,

You are correct.

If your chosen strategy is a long term Buy & Hold to aquire capital growht then it does not really matter where you enter the cycle and puchase - so long as its well located, of good quality, your happy with the holding cashflow, and you dont pay any more than Fair Market Value for it!

With this type of strategy its -

Time in , NOT time entered!

BTW, I notice your a Newbie, this being your first Post - Welcome Aboard!:)
 
Last edited:
Thanks for that Rixter!
When you say "fair value" How do you quantify that?
Is it purely a subjective thing or is it better to have set guidelines.
i.e. don't pay more than 5% above median price for area,must have yield of 6 % .Just wondering how you approach it.

I Still need to do a lot more research needed before entering!

Cheers
Brett :D
P.S. I notice your in Jandakot. I'm in Success. Lot's of things happening around here in the next few years!
 
Beejay,

Fair value is in line with the sales of comparable properties around the same time.

It is best to have set guidelines for yourself, such as buying property with at least 30% land content and below median price in areas which have more owner-occupiers than renters.

However there are no set guidelines which work for everyone :)

Cheers,

Aceyducey
 
Hi,

I think it moreso depends on what your goals are, and when you want them by. This dictates what one has to do to achieve them.

If a certain property type in Perth happens to fit the above, thats great. If not, buy elsewhere like people such as Rixter have.

There are still a few areas in Perth that do match my 'criteria'. South Perth and Scarborough are examples of areas I would probably not invest in, as they are overloaded with empty units.

At the end of the day, you have to do what suits you ;)

-Cheers

Dave
 
Hi Brett,

As Acey says, FMV is comparative sales at the time.

Yes I have seen whats planned for the area and have just rebought into Atwell for those very reasons.
 
Thanks for the replies everyone! Much appreciated.

Rixter- Do you think the train station,Cockburn central etc etc
will increase growth in the older suburbs like South Lake and Yangebup? I would prefer Success/Atwell but obviously will have to pay more for the newer homes.

Cheers
Brett
 
D2K,
if south perth and scarbs are overloaded with empty units, they may present a good place to buy in a year or 2 if interest rates do go up and the prices of these units go down.

Whadya think?

TheBACON
 
Brett,

I feel moreso South Lake than Yangebup but only due to its better proximity to the freeway & proposed train line. I have lived in South Lake district of Jandakot for the past 10 years (currently moving to Atwell in few weeks) and ive had tremendous CG here in the past 2 years - mind you it was slow before then.

Everything is selling like hot cakes here because its was so far undervalued compared to surrounding suburbs. But since the train line & the current low rates people have suddenly realised its undervalue along with its closeness to Perth & Fremantle. I just sold my place 1st day on the market for more than i was expecting.

Brett, are you currently renting?
 
Cheers for that Rixter.
I was thinking the same as you but my wife prefers Yangebup.
No I'm not renting. Still trying to finish the mortgage off.
I've owned some shares for a while but want to diversify into
property as well.

That's not to say were limiting ourselves to those areas,but it seems logical to buy somewhere we know,especially with wahts happening in the area.

Brett:) :)
 
Hi Fifi

The schools are probably on the average side. i.e could be better.
The high school doesn't have that great a reputation.

My kids go to Jandakot primary.Atwell p/s is good but at last count had 750 kids in it.They are suppose to building another in the area but not in the near future.

Not sure about the zoning etc for entry to those schools from Sth Lake.

As for amenities-Sth Lake has a small shopping centre but there
is a larger one (Gateways) just down the road thats expanding
in the next few years.

There is also a new train station being built (2005-6) nearby that includes a bus port as well.

There is a large hospital (Murdoch) lessthan 10 k's away

Fremantle is 15 K's away and Perth cbd 20 k's.

Hope this helps you.

Cheers
Brett
:)
 
I know a little, was just looking at buying in those areas. One of the major things about Willetton (and Riverton as well I think) is there is a _very_ good public school in the area (Rossmoyne SHS) and so the catchment area for this school is highly sought after. They usually advertise as "RHSZ" (Rossmoyne High School Zone). The zone only covers part of willetton (North West) and I think part of Riverton. The houses in Willetton are fairly highly priced (seems to add about $20k in RHSZ) but units can be found for around 200k if you look hard enough. One of the problems with Willetton is it is a very big suburb (one of the biggest in Perth) and so there are good parts and bad parts - generally, the very south isnt very good, and south east is particularly bad - there is also a _major_ Rd (Row HWY) going through soon which runs along the southern border of Willetton which will make those areas less attractive. Basically, if you can stay north of Collins Rd (St?) that is good, and the further west (closer to the freeway as well) the better - and if you end up in RHSZ then thats even better.

I dont know much about Riverton except that there are more units/villas available (I think) and its closer to the canning river.

Be aware of houses along either Karel Ave, High Rd or Vahland St, they are all major roads - even collins rd is pretty busy.

Also, Willetton has a large population of asian descent families - so that means there are quite a few very good asian restaurants around :)

Hope that helped.

Luke
 
Just a bit more on Willetton:

The main regional shopping centre is Southland, in the south west of the suburb. This is also near Willetton SHS.

The best public transport services are provided in areas close to the 98/99 Circle Route. The usefulness of this route will be improved when the railway station at South St opens. The Leach Hwy station will also be useful for residents in the extreme north-west of the suburb.

Peter
 
Hi,

The Riverton Forum shopping center, and the Riverton Leisureplex aquatic center both seem to be fairly popular.

Entry level houses seem to be around the $275k mark tho.

-Cheers

Dave
 
I grew up in Rossmoyne & know Willetton very well. Its a good middle class area well located to Perth CBD, Fremantle with good transport , arterial roads, schools, medical, recreational facilities & employment in the area. A good quality, well located dwelling in Willetton will always perform well long term.
 
You must log in or register to reply here.

Similar threads

J
Where to buy in Perth?
2 3
Replies
44
Views
7K
Rixter
Rixter
T
> 5% property owned by overseas buyers
Replies
3
Views
2K
TomW
T
D
Just settled on another Marrickville flat
2
Replies
23
Views
4K
skater
skater
see_change
How could restricted borrowing change investing approach
2
Replies
23
Views
5K
BayView
BayView
A
Roxby Downs - Food for thought.
2
Replies
32
Views
11K
Waldo
Waldo
Back
Top