Piara Waters - any heads up?

[Aaron Sice]

I have a chance to pick up a Dx lot in Piara Waters for under basic, single lot sqm rates.

So obviously this is a no-brainer. But I'm wondering if anyone has had any experience in the area? Things to look out for? This one is near-ish the power lines but its not the over-arching 'feature' of the lot. What are Armadale like as a council to have on the payroll?

I know there's a new high school coming up in Harrisdale and an existing primary school just up the road. 5 mins to Cockburn Central and 15 min to Armadale. Nice landscape corridor through the estate, half decent public transport and less of an emphasis on "affordability" like Harrisdale.

So, who's got some research or opinion they'd like to share?

 

[MTR]

Hi Aaron

I have not researched this area, though had a quick look at prices of land, its not cheap.

My only consideration before jumping in is what is happening in terms of supply vs demand, are they selling like hot cakes and end value? and what stage are they at in terms of the sub-division?

I think the one estate without a doubt I would be jumping into would be Stockland - Calleya for rapid growth it really ticks all the boxes, however there have been many posts on this and its difficult to secure a lot, first in best dressed, but I would still register just never know.

All the best

MTR

 

[UrbanPlanner]

Don?t really know the area outside of big Peet estates ? Wungong/Sienna Wood etc that are yet to be built. But sounds like you?re closer to the Freeway/Cockburn Central side so this may not be an issue as Wungong?s ?local? is Armadale.

Armadale aren?t too bad to deal with as a Council, but still have a sense of ?make it up as you go along? although nowhere near as bad as the likes of Stirling.

 

[Aaron Sice]

it's through a developer - large section of land - not anyone of the big ones down there, either.

land is going pretty cheap - Calleya will definitely push prices up in the area but the issue and release of land is a shamozzle.

am looking into it more - ABS stats on demographics etc but it's looking reasonably promising - i think there's a lot of potential down there in the next 10-12 years - some estates that had a 7 year time frame are reaching capacity in just 18 months.

just met with strategics (pulled a few strings) and it's pretty good news down there.

cheers all.

 

[AAArun]

Just a observation, PW is located near the prison, about 8 kms from Cockburn station & the freeway, nearest big infrastructure is Fiona Stanley which is further away, but for some reason people are buying at around $632/m2, this was mid last year for a 400sqm lot, that gives you some price to compare with your buy price. I guess you could build it within a year and manufacture some quick CG.

 

[Aaron Sice]

Im picking up a dx lot at $512sqm and able to reval the second lot at 720sqm each on comparable sales.

 

[MTR]

land is going pretty cheap - Calleya will definitely push prices up in the area but the issue and release of land is a shamozzle.



.

I think the way the developers have managed this has been shocking. They send emails to those registered and basically its who gets in first, in the mean time their systems crash.

I believe the developer underestimated the demand for this area and how much interest this would attract.

With Piara Waters, is that a duplex block, so what would the potential end value/profit be???

Cheers
MTR

 

[Aaron Sice]

end profit could be as high as $120k on comparable sales - i'm doing a FHB-style 4x2 on each instead of a larger 3x2.

the trick is to get good sizes bedrooms and a good sized, well oriented yard for good rental yields. having a larger (30sqm+) courtyard in the middle of the block, witht he house wrapping around it, seems to be the best bet here.

i guess it helps when you're also writing the DAP/LDP that you can vary open space and boundary wall positions for a "straight to building license" application....

 

[wrexy]

I have a chance to pick up a Dx lot in Piara Waters for under basic, single lot sqm rates.

So obviously this is a no-brainer. But I'm wondering if anyone has had any experience in the area? Things to look out for? This one is near-ish the power lines but its not the over-arching 'feature' of the lot. What are Armadale like as a council to have on the payroll?

I know there's a new high school coming up in Harrisdale and an existing primary school just up the road. 5 mins to Cockburn Central and 15 min to Armadale. Nice landscape corridor through the estate, half decent public transport and less of an emphasis on "affordability" like Harrisdale.

So, who's got some research or opinion they'd like to share?

I've had or got IP's in Canning, Gosnells & Armadale - 3 shires side by side makes it easy to compare. Armadale council is by far the most expensive rates I've ever paid, Gosnells is middle ground and Canning slightly cheaper. Armadale I figure has the most expensive rates as you're also paying for those that don't pay their rates. I don't know what else they must waste their money on as the shire offices & gardens aren't anything pretty. From memory, the CEO is one of the highest paid council CEO's in the state.

Council also hits you up with extra rates for maintaining the parks after the developers have gone and Water Corp also hit up owners for extra money with a special levy to pay for their so-called upgrades to stormwater & sewerage.

I started out living in Riverton, Willetton, Canning Vale and kept moving further out after that. Now the price of land in Riverton & Willetton is quite expensive, many times more than when I lived there. Just need Canning Vale to go like that, but with some small pockets of land still available there, it might be another 20 years for things to pick up there and maybe a further 10 years to get to Harrisdale & Piara Waters.

As for dealing with the council, all my building permits have always progressed through smoothly. The Piara Waters & Harrisdale areas have been cranking up for the past 6 or 7 years, so council have their systems ironed out by now.

The only painful dealings I've had with council is a crossover, but I've now figured that the council give you back so little for a crossover ($200 from memory) and the way they charge you to inspect the crossover so it complies with their policies, that it isn't even worth involving them in it, just cop the small loss from not getting their crossover contribution and build it.

The other issue the council weren't interested in helping me with, was a neighbours lack of proper storm water disposal. My property level is only a matter of inches lower, but the neighbour just let it run out of the downpipes right on the property boundary (parapet wall) and on heavy storms trickled into my property.

Single mum living there said her ex-husband had checked the drains and they were working fine (I wonder how when it didn't go into any soakwell), she wasn't interested on seeing photos of the effect it was having on my side of the fence and wouldn't let me add some piping to her downpipes to direct water away from the boundary line. Some minor earthworks along the fence line will hopefully keep it contained this winter. Throughout all of this I think I worked out why her husband had moved out, but that's probably being a bit nasty!

Anyway, things are starting to go ahead out there now with more shops and more people moving into the area. I now get pretty good rents out there, but had to wait a while for that to happen.

Cheers mate.

Wrexy.