Its a WA thread mate...Adelaide misses the mark by a few thousand k's
But that is nice to know...may have to look at that estate
<KS>
WA Recovery for Investment Potential?
- Thread starter <KS>
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Its a WA thread mate...Adelaide misses the mark by a few thousand k's
But that is nice to know...may have to look at that estate
<KS>
I know, but you did ask : "where else?"Sorry Ausprop, I don't know but I'll try to make time to find out for ya!
Jodie
Hi Sparky,
You are probably aware that No: 46 is going to auction. Probably belongs to someone here? Not the way we usually like to buy houses here in WA but depending on how it goes it may be an option for you.
I'll be watching that one with interest. From a buyers perspective, it's getting v. interesting around that area, yields are looking almost historically normal, and houses are below current replacement, but mainly due to high land values set during the boom and still close to remaining that way.
I have no doubt with the long term supply and demand theory what with immigration heading towards 200k, future resource contracts in place and particularly in that area, the expanding military budget and further movement towards the 2 oceans policy.
While I like the area, and think it has a good potential, it's not time for me just yet. Like most people are thinking, I'd rather buy once recovery is a bit more pronounced, and it's not looking that way at the moment for WA.
I may miss out on the trough and some of the early rises but I'm playing safe as usual, and sitting still with the herd right now.
Cheers,
Beef.
I totally agree with you Beef
I am currently seeing a lot of buys that seem like complete bargains.
Right now I am torn between whether or not to make an offer on a property I have just viewed...
But like you I am cautious because there is a lot of crazy global stuff going on right now that I dont understand - so I am sitting and watching very closely at what others are doing.
<KS>
I am currently seeing a lot of buys that seem like complete bargains.
Right now I am torn between whether or not to make an offer on a property I have just viewed...
But like you I am cautious because there is a lot of crazy global stuff going on right now that I dont understand - so I am sitting and watching very closely at what others are doing.
<KS>
i'm seeing bargains every day - areas with good fundamentals AND great yield - sometimes even with a value adder.
they're out there - and if they're not, you can always doorknock a property you've been watching and say "it my dreamhouse, i've driven past this place every day now for 5 years blah blah sob blah..."
they're out there - and if they're not, you can always doorknock a property you've been watching and say "it my dreamhouse, i've driven past this place every day now for 5 years blah blah sob blah..."
I couldnt agree more. Low infrastructure & not high employment areas. A recipe for unsustainability.
Yep - a sister owns a house down thata way.
Yield is about 3% gross. About 2% nett yield after outgoings paid. Tenant is as poor as a church mouse...so I don't think it's gonna increase anytime soon.
Value has dropped quite considerably in the last 6 months with For Sale signs popping up everywhere, with not a jot moving.
Yield is about 3% gross. About 2% nett yield after outgoings paid. Tenant is as poor as a church mouse...so I don't think it's gonna increase anytime soon.
Value has dropped quite considerably in the last 6 months with For Sale signs popping up everywhere, with not a jot moving.
Which suburbs?
subi, rivervale, nedlands, como, kensington
here's the numbers on my mandurah villas... cost me $200k to build, had them bank valued at $400k, would be lucky to get a buyer at $300k now. should i have sold and paid the tax? you betcha
and yes as you said the tenants are generally poor and yields barely cover my rates and taxes
still, buy and hold is the mantra. say it enough and you fall into a trance...
were they attached or detached?
Interesting, all within 5 k's of city. I hope it flows on.
Houses 10k's from city around Bassendean are still selling if they are well presented/good property/good street.
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wow..$200k to build?? mate the only winner in that deal is the builder..he must be laughing all the way to the bank on that one!
wow..$200k to build?? mate the only winner in that deal is the builder..he must be laughing all the way to the bank on that one!
err... $80k for the land, $90k for each build, balance for costs. so the only loser in that deal was the builder!
was out your way yesterday morning in the pouring rain...looks like it's a wrap on the gt northern hwy ones? our ones are 6 weeks off thankfully, there is no profit in the job so i just need them built and sold asap
semi-detached i think... why is that? on 2 of them i think the kitchen wall touches.
rents were originally $220, have managed to get the last one up to $275 but it was a stroke of luck. Really they are at $250pw
My Mandurah townhouse has just increased to $290 per week rent, we paid $295,000, the last of the bank valuations was $495 so at least we were able to get equity out. That one isn't on the market and if nothing happens with Shoalwater at least the rents are going in the right direction.
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Dear Sparky and et al,
1. Thank you for your love and concern.
2. My Mother has passed away recently, having been critically ill for some time. Thus, I have been continuously away in Singapore over the last few months, busy attending to my own late Mother' dying needs as well as the needs for my other living family members.
3. Long term-wise, I am basically still optimistic and confident regarding the Perth property market despite its recent market slow-down and some falls in its median house prices over the last 2 quarters since December 2007 period.
4. Consequently, I am still building at the Anchorage Estate and keeping some properties there, having sold off some 4-5 properties during the last market boom during the 2006 period.
5. Initial Practical Completion for my Double-Storey House Construction at Lot 2012, 26 Eldon Street, Shoalwater WA 6169, has recently been achieved by the appointed Builder at Perceptions Homes on 8th September 2008, some 24 months after the initial continuous house construction has last officially commenced in September 2008 period.
6. This Double-Storey House Construction at Lot 2012 by Perceptions Homes, has indeed taken a much longer time to complete than the initial 18 months house completion time which I have previously envisaged and has catered for, in my own initial project planning, cashflow projection and budgeting purposes.
7. Consequently, as a result of this delayed house completion by Perceptions Homes and given the recent tightened lending policy/practices in Australia, and the various many successive interest rate increases until first interest rate cut was officially announced by the RBA during September 2008, I was not able to raise sufficient loans/cashflow on time to continuously service my various loan interest payment as well as to commence the house construction at Hayward Bay Estate in NSW in a timely manner, as previously planned.
8. Yes, as Sparky has said, I am presently facing a big challenge in trying to raise more loans and cashflow for my 2 Australian Companies to continue with their various Projects at Haywards Bay Estate at this point in time.
9. Both the vacant lands there at Haywards Bay Estate, NSW, are presently at risk of being public auctioned off by its Lenders during this 27th September 2008 period.
10. If members here, can kindly extend me a helping hand to help me secure more loans or/and to raise the required cashflow for my 2 Companies so that they are able to officially commence on their house construction at Haywards Bay, I will be much thankful and grateful for your kind assistance, please.
10. In the mean time, I will have to consider other ways of raising he required funding from some overseas sources, outside Australia, in order to help finance my various house construction projects in Australia.
11. For your update and further comments where neccessary, please.
12. Thank you.
Cheers,
Kenneth KOH
