It has been Perth, Mandurah, Frankston, Western Melbourne, Western Sydney, Gladstone, Brisbane hinterlands, Qld Mining towns, Darwin, & heaps of other places too (as no doubt i'll get reminded) - these were all 'Hot' but now they've done their dash .. so where is the new hot? .. i can't think of anywhere that's running hot or the next big thing .. what are your views?
Where is hot?
- Thread starter singingtheblues
- Start date
The train has definitely left the station for Perth but it has not peaked.
I just bought a small strata lot in Wellard and am building a house for 305k (includes 140k for land). Getting a decent block on Wellards for less than 180k is now impossible where as it was possible less than 4 months ago for 165k.
I know that one block of land down there came back on the market for 189k as someone could not settle. The land was sold 9 months ago 165k!
Mandurah is next on ....I believe it has not moved yet. I just snapped up a small cottage block for 133k. Will build on that for a total price of 302k.
I just bought a small strata lot in Wellard and am building a house for 305k (includes 140k for land). Getting a decent block on Wellards for less than 180k is now impossible where as it was possible less than 4 months ago for 165k.
I know that one block of land down there came back on the market for 189k as someone could not settle. The land was sold 9 months ago 165k!
Mandurah is next on ....I believe it has not moved yet. I just snapped up a small cottage block for 133k. Will build on that for a total price of 302k.
How about the areas between Mandurah and Rockingham. Margaret Loma suggested Rockingham Shire (not Rockingham itself) at the property show today.
Done that already....bought a small block in Wellard for 140k...2 weeks before Woolies went in. I think I just made 20-30k out of thin air. I plan to put a house on it for 165k that will rent for 400-440pw once complete.
Kwinana is also hot....bring it on....
Kwinana is also hot....bring it on....
This would be Singleton (north of Mandurah, between Rockingham/Mandurah, still under Shire of Rockingham) is starting to move due to lack of stock, apparently they have been getting multiple offers on properties. The attraction with this is the proximity to the beach.
There are land and house packages available in the area but they are on smaller lots, what is in greater demand are houses on lots over 600 sqm. Of course do your own DD.
OK I lied....the holding costs are another 7.5k....this is just he build cost.
I don't settle on the land till I am ready to build.
Lots of builders can build for that price point - Dreamstart, Homestart, Colliers, etc. I am building 3x2x2 with theatre for 165k. Note that living is about 117sqm, porch 2.5 sqm , paved courtyard 12 sqm, double garage 36 sqm, storage 4 sqm. Total is about 172sqm. Priced about 166k complete. Includes stone benchtops, evarporative cooling, 900mm oven, robes to all bedrooms. Note note no LED lights and polty carpets and vinyl plank (wood look alike) flooring. The garage are at the rear...
Once built these will easily sell for 380k.
I don't settle on the land till I am ready to build.
Lots of builders can build for that price point - Dreamstart, Homestart, Colliers, etc. I am building 3x2x2 with theatre for 165k. Note that living is about 117sqm, porch 2.5 sqm , paved courtyard 12 sqm, double garage 36 sqm, storage 4 sqm. Total is about 172sqm. Priced about 166k complete. Includes stone benchtops, evarporative cooling, 900mm oven, robes to all bedrooms. Note note no LED lights and polty carpets and vinyl plank (wood look alike) flooring. The garage are at the rear...
Once built these will easily sell for 380k.
Hi Sash
From a rental perspective the smaller lots would be ideal. Have you been happy with your builder etc. I think we have some great spec builders in Perth, I was using Ventura when I was building in the last Perth boom, they were very good. In those days it took 18 months to build 1 home
What about your backyard.... from what I am reading looks like things are starting to get hot, in particular West Syd, about time.
Happy Days
Marisa
Marisa.....smaller lots are becoming more popular..in some cases well designed homes are selling as much as larger lots. It is all about the home..and quality.
I looked at Ventura and they are too expensive. The price to value did not make sense. I also like custom designed homes as I buy more irregular blocks....Collier is really good at this...
18 months to build is that from settling on the land...that will cost a motza in interest payments. I usually factor in about 6-8 months from land settlement. In most instances 7 months should be abolute maximum from council approval.
Not a big backyard. Only 4.5m x 7.5m.
I think Western Sydney has already moved signifcantly...the rents would not compare for similar priced investment in WA.
I looked at Ventura and they are too expensive. The price to value did not make sense. I also like custom designed homes as I buy more irregular blocks....Collier is really good at this...
18 months to build is that from settling on the land...that will cost a motza in interest payments. I usually factor in about 6-8 months from land settlement. In most instances 7 months should be abolute maximum from council approval.
Not a big backyard. Only 4.5m x 7.5m.
I think Western Sydney has already moved signifcantly...the rents would not compare for similar priced investment in WA.
Hi Sash
From a rental perspective the smaller lots would be ideal. Have you been happy with your builder etc. I think we have some great spec builders in Perth, I was using Ventura when I was building in the last Perth boom, they were very good. In those days it took 18 months to build 1 home
What about your backyard.... from what I am reading looks like things are starting to get hot, in particular West Syd, about time.
Happy Days
Marisa
Sash
18 months yes from purchase to completion... very long time, cos it was frenzy, crazy time where there were so many investors buying/building, builders could not keep up with demand.
However the profits were also much greater than what is happening today with L&H. Sometimes you would not bother building, by the time we got our titles for the land the land was worth twice as much with investors lined up to buy.
I know one investor from Melb that purchased 30 blocks in Mandurah, when the market tanked he lost everything.
MTR
Land is going up quickly this time also...but can't see it double yet. But I can see it going from 130k to 190k for the smaller lots with no worries.
That is like a 45% gain...this is the potential in the next 2 years. Even with that increase and say a small H&L package cost is 185k. That is a total of $375k still very affordable.
Most families can afford things up to $400k on say an income of 80-100k (combined). This why the low end can being increase of up to 30% rapidly.
I see the ones I am building comfortably being worth 400k. The reason for this is because they front a park and are near great schools and other facilities.
That is like a 45% gain...this is the potential in the next 2 years. Even with that increase and say a small H&L package cost is 185k. That is a total of $375k still very affordable.
Most families can afford things up to $400k on say an income of 80-100k (combined). This why the low end can being increase of up to 30% rapidly.
I see the ones I am building comfortably being worth 400k. The reason for this is because they front a park and are near great schools and other facilities.
The bottom end of Frankston has some unbelievable bargains that are set for some decent capital gain.
One can easily find situations under $300,000 where one can buy a rentable old brick house on a dual occ or three-occ site.
Pretty hard to go wrong.
Disclaimer: I have bought a few of the above.
One can easily find situations under $300,000 where one can buy a rentable old brick house on a dual occ or three-occ site.
Pretty hard to go wrong.
Disclaimer: I have bought a few of the above.
Darwin is always hot and actually keeps performing, thats more than most "hot-spots" can say
I've purchased one of these but it's done bugger all in the past 4 years and speaking with local agents it's set to do more of the same for a while yet. It's now worth $30,000 more than I bought it for and rents fore the same amount it did then.
I think you'd agree that the average $50,000 capital a year we make here on each home far outperforms most anywhere else. I only wish I'd bought more and not gone elsewhere.
I've also just relet a property here for an additional $50p/w, and the year before that was an extra $40p/w. $90p/w extra rent over 1 year investing in a standard house in Palmerston aint bad in anyone's book. Pretty hard to disagree with that
I think you'd agree that the average $50,000 capital a year we make here on each home far outperforms most anywhere else. I only wish I'd bought more and not gone elsewhere.
I've also just relet a property here for an additional $50p/w, and the year before that was an extra $40p/w. $90p/w extra rent over 1 year investing in a standard house in Palmerston aint bad in anyone's book. Pretty hard to disagree with that
It's a balmy 10 degrees today - double figures!
The apartment trade in CBR is definitely not hot....