Thoughts on Mandurah, WA?

[nowork]

Hi,

I was wondering on peoples thoughts on Mandurah WA, seems like a few older cheaper homes on blocks that now have been re-zoned.

Would like to one day to do a small development, just learning more with how they work etc.

I have the one IP. No PPOR, work looks after where I live.



Thanks

 

[Jess Peletier]

There are a lots of potential development blocks in Mandurah and the area is growing like crazy with new developments. For me, I would only buy on the beach side and avoid areas inland like Greenfields Lakelands etc as there is heaps of land being developed or there, big Estates etc.
At least Beach side you have a bit of scarcity value and the rents are higher too.
I like Silver Sands, San Remo Old Madora Bay areas. There is a brand new school in Lakelands plus private school, and heaps of new infrastructure being planned for Madora Bay and Singleton with more new schools and a marina.

FWIW I live in Madora Bay

 

[Ausprop]

was at old madora bay yesterday, spent a lot of time there as a kid. seems no one has done anything much to their houses over the last 30 or 40 years, it's looking really run down. I suppose a lot of them are still second homes / weekenders as the area was originally intended. definitely a candidate for urban renewal at some point

 

[nowork]

Thanks for the info guys.

 

[Jess Peletier]

was at old madora bay yesterday, spent a lot of time there as a kid. seems no one has done anything much to their houses over the last 30 or 40 years, it's looking really run down. I suppose a lot of them are still second homes / weekenders as the area was originally intended. definitely a candidate for urban renewal at some point

I'm starting that trend, haha!

The whole other side of old Madora Bay is going to be developed into new housing So it makes sense that OMB will have to catch up, being wedged between the two. There are good block sizes there which you just won't get in the new developments.

 

[thatbum]

I'm pretty pessimistic about growth prospects in Mandurah moving forward.

I think there are definitely lots of select properties that are good investments, but overall people should be careful what they buy in the area.

 

[Jess Peletier]

To be fair I bought to live in, not just for investment, but even then it's hard to take the investor out of the girl... Gotta have a value-add

I agree that you can't just buy anything and win. But would you mind elaborating on your pessimism?

 

[thatbum]

To be fair I bought to live in, not just for investment, but even then it's hard to take the investor out of the girl... Gotta have a value-add

I agree that you can't just buy anything and win. But would you mind elaborating on your pessimism?

Mandurah had a really good run in 2011/2012 off some great general yields. And now the yields aren't there and the supply is up. The employment situation hasn't really changed, so its hard to see what will drive up prices further in the short term.

Don't be me wrong, I'm a big fan generally of the area, but I think its had its run.

 

[westminster]

Depending on budget there are probably areas that I would choose over Mandurah but we don't know the OPs strategy, risk appetite or budget in this instance so it's really hard to advise.

 

[sanj]

Mandurah had a really good run in 2011/2012 off some great general yields. And now the yields aren't there and the supply is up. The employment situation hasn't really changed, so its hard to see what will drive up prices further in the short term.

Don't be me wrong, I'm a big fan generally of the area, but I think its had its run.

Mandurah had a strong run a few years ago? I had no idea, was it across the board or just particular types/price points?

 

[thatbum]

Mandurah had a strong run a few years ago? I had no idea, was it across the board or just particular types/price points?

Mostly the bottom price brackets, and mostly the central suburbs from what I could see. But it certainly rippled up and out somewhat from there.

It lagged slightly from when the bottom end of Perth was moving, but then followed it for a bit.

 

[z611143]

Mostly the bottom price brackets, and mostly the central suburbs from what I could see. But it certainly rippled up and out somewhat from there.

It lagged slightly from when the bottom end of Perth was moving, but then followed it for a bit.

thatbum, Where do you look to see which areas/suburbs have had good runs in certain years ect?

Just on REA?

Would like to know your best resources?

 

[thatbum]

A few different ways. You can look at suburb statistics and old listing data generally freely available on the web.

I also have an rp data subscription that I use for some research.

Mostly though, I was there, looking at properties and listing in the area at that time, haha. Nothing beats on the ground reconnaissance.

 

[MTR]

Mandurah had a really good run in 2011/2012 off some great general yields. And now the yields aren't there and the supply is up. The employment situation hasn't really changed, so its hard to see what will drive up prices further in the short term.

Don't be me wrong, I'm a big fan generally of the area, but I think its had its run.

Oversupply at the moment.

Development sites I still believe would be higher risk

Strong rental demand but lower end, with this unfortunately also comes risk, undesirable tenants??

MTR

 

[MTR]

I'm starting that trend, haha!

The whole other side of old Madora Bay is going to be developed into new housing So it makes sense that OMB will have to catch up, being wedged between the two. There are good block sizes there which you just won't get in the new developments.

Unfortunately this has been in the pipeline for years now but nothing happening any time soon from what I have been told.

Also, larger blocks in old Madora Bay is good, but no potential for development, shame about that

 

[Jess Peletier]

Unfortunately this has been in the pipeline for years now but nothing happening any time soon from what I have been told.

Also, larger blocks in old Madora Bay is good, but no potential for development, shame about that

I got a thing in the mail a few months back asking for comments, so it's not a complete stand still.

Maybe not for subdivision yet (still on septic out there) but for people looking to build the larger lots might be attractive. New block sizes are getting so tiny it's un-Australian

You can get development blocks in Silver Sands though, right near the beach. Haven't done any sums on them, just know they exist.

 

[Ausprop]

I see they are carving up across the road at Singleton. as that spreads it will definitely give the ocean side blocks an edge.

that dam kwinana freeway, what a joke in peak hour. are there any plans to fix it up does anyone know? particularly around the Roe interchange. 2 piddling lanes at a stand still. At a guess - looking at the width of the bridge structures - it looks like 4 lanes is as much as they could ever go

 

[boeman]

$140k for a 820m2 block of land in Lancelin South Estate.

Sounds ridiculous, but I think there would be more growth in that than a H+L in Mandurah area over the next 10 years.

 

[sanj]

I see they are carving up across the road at Singleton. as that spreads it will definitely give the ocean side blocks an edge.

that dam kwinana freeway, what a joke in peak hour. are there any plans to fix it up does anyone know? particularly around the Roe interchange. 2 piddling lanes at a stand still. At a guess - looking at the width of the bridge structures - it looks like 4 lanes is as much as they could ever go

Can you imagine how bad the traffic would be on the kina a freeway if the mandurah rail line wasn't built?

 

[yadreamin]

Anything that hits the market in SilverSands sells very quickly. A large apartment and retail complex has been approved in this area. Not sure if that's why the market is so good. ( buyers market )Big blocks and old houses / shacks everywhere in this suburb a scattering of nice new homes. You can buy a 900 sqm block with brick tile house beach front for $1 mil or 2/3 streets back 900 sqm block with house or shack for $300k. I can say that it's a fabulous place to live. I can walk along the sand for 20 mins and be at the marina or walk on the path for 20 mins and I am in the heart of the foreshore . Fabulous access to buses , freeway and train station. Most of beach side does not have the sewage connect. No big deal sewage tanks/ leach drains have been around for a very long time and work well.
The rest of Mandurah seems to be a buyers market. Mind you l haven't followed it diligently for a couple of years
Cheers
Lynne