[wa] land prices falling... ???

Discussion in 'Where to Buy' started by stockt12, 3rd Feb, 2007.

  1. George

    George Member

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    If you don’t care if you get the land or not, double the discount or triple it to be unreasonable.

    Chances are nobody will take you seriously, but maybe you’ll get a fish or two.

    You don’t know what are the reasons for sale, maybe somebody is desperate to get rid of parcel for any price quickly, maybe somebody fell behind with repayments and actually bank is forcing the sale as with houses and banks don’t care.
    All they want is to get their money back.

    Cruel to sellers, but you never know if you don’t try.
     
  2. kero

    kero Member

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    take note of the soil classification if you can... cos i know someone had to add about $15k to $25k worth of piling for his house as the site classification on his block is 'S'... a very unpopular classification.
     
  3. asdf

    asdf Member

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    Might have a good cruise around the canals when I'm next over. Any hotspots?
     
  4. tropic

    tropic Member

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    Kero, can you explain to me please. I don't know what S classification is?:eek:

    Asdf, they have some nice cannal blocks on the east port for around 750K
     
  5. kph

    kph Member

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    'S' soil classification is for clay type soils.
    Can be highly reactive, or very unstable, especially when mixed with water (ie.. when it rains)

    Seems like an unusual classification down that way, especially when most of the blocks in WA are 'sand'

    Ther are alternate footing designs and types that can be used to overcome a poor soil type, but this is probably more common in Melbourne or Sydney.
    Perth folk have usually had the luxury of being able to build on clean sand using a standard floating slab design....ie...cheap and easy.

    kp
     
    Last edited: 10th Feb, 2007
  6. kero

    kero Member

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    hi tropic,

    sounds like kph has answered the question.

    kph,

    you are a soil or structural engineer?? :rolleyes:
     
  7. Celeste

    Celeste Member

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    Hi all

    Not in the hills - we had clay and quartz - apparently it shifts - so no plaster over windows and doors we had glass like in the victorians.

    Celeste
     
  8. kph

    kph Member

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    No, not quite
    I'm just building in a number of unusual locations right now, after only having experienced building in Perth previously.

    I was just parroting what the (real) soil engineer explained to me.
    I've got a a chart somewhere which explains the various classifications from, A, to S, to P, to H, to MD and HD.

    From the soil classification, the engineer can they recommend what sort of footings/slab design you need to use for the type of dwelling you are planning to construct.

    Celeste,
    Yes, agreed its not all sand in PErth.
    I know its gets into more clay and mud down Gosnells way, and then its quite rocky into the hills.
    But along the coastal strip its pretty much all sand.

    kp
     
  9. Ausprop

    Ausprop Member

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    the boat pen crisis is not unlike the land shortage crisis... too many govt depts and red tape preventing the release of more pens in places like the swan. this restricted supply is pushing up prices: their value has gone thru the roof. mandurah marina is about to have a big release, also busselton has pens available. coogee will be online soon but doubt it will quench things much.

    on the subject of boats, you have to wonder about their shelf life given long term trend for increasing fuel prices. even smaller cruisers burn about 2 litres a minute and fuel at marinas is typically 25 to 50% dearer than at the pump. imagine an afternoon cruise on a 60 footer at $3 a litre... what would they chew thru per minute?
     
  10. kph

    kph Member

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    So Ausprop....has it sold yet ??

    Alternate is to go for sail and 'pen' it at Dampier.
    Its free and theres a whole archipelago of islands to explore, and its all FREE..

    kp
     
  11. stockt12

    stockt12 Member

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    due to a rather busy week..

    i didn't even get to drive down.


    although... i did check on each piece of land and it is ALL still available. The mind says this is not a great sign.
     
  12. tropic

    tropic Member

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    Stock12,

    what if you give a low offer?
    Maybe wait and see since they won't sell in a hurry anymore??

    Have anyone heard how the land sales in Coogee is going?
     
  13. stockt12

    stockt12 Member

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    tropic - that's what i plan to do..

    hopefully i won't offend anyone/many people.

    can't help with your area..sorry mate, looking at too many other areas :(
     
  14. tropic

    tropic Member

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    Stock12,

    After you are done with your buying can you pm me the blocks (the left over).
    I am interested to know which areas you are referring to. No plan to buy but who knows.
    Thanks.
     
  15. stockt12

    stockt12 Member

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    no problems mate...

    i've got a few areas i'm looking into so i'll forward on some details soon.
     
  16. markpatric

    markpatric Member

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    I have read this thread and believe me it`s time to run like the damn wind.:D
    Always the same scenario, prices drop and people start to say things like, they bought cheap and just want to dump thier properties at a discount........when people start dumping properties at a discount it is a sure sign of which way the market is heading.
     
  17. kero

    kero Member

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    anyone heard about the churchland greens? i think this subdivision is quite near the city... might be a bit like the princeton subdivision in stirling... don;t take my word for it, i'm still quite green in WA (come April will be one year here)...

    anyhow, the developers are auctioning the blocks... minimum size i think 400m2 (?) and max, not sure. if these sell like hot cakes, then the WA ppty market might still be sizzling hot.
     
  18. Ausprop

    Ausprop Member

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    i think those churchlands ones will sell like hot cakes. it is the outer suburban vacant blocks where the cheap deals are to be had... flippers left holding the ball that just want out.
     
  19. Celeste

    Celeste Member

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    Hi all

    I heard yesturday that baldivis land sales have almost stopped, they are taking ages to sell.
     
  20. Ausprop

    Ausprop Member

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    something had to give.. for a while there it was cheaper to buy a new house than buy the block and build it. in fact in many places this is still the case but i can see land prices retreating rapidly. in a normal market it is a dog of a product. people thought it was all too easy buying a block and flipping for a quick $100k or so and I think there may be a few tears when people realise just how hard it can be to shift a vacant block. the feedback i am getting is that lowering your asking price isnt helping shift them as they just arent sellling - sets the stage for some deep discounting.