Perth property listings - under 9,000
- Thread starter Ausprop
- Start date
Invstor
in hot markets the seller holds all the cards and if you want to play you don't have a choice. I hate this strategy, cos I then know I am dealing with a smart agent.
Willagee much higher end value than Cooby and Willagee also has more pockets of higher zoning.
I don't believe higher end surrounding areas such as Melville etc have the higher zoning yet this makes Willagee unique. Even if building villas as opposed to apartments in Willagee I believe they would be very attractive at price point of around $600-620K depending on land component and considering what they asking for surrounding blue chip properties.
I am not at all worried about over supply when zoning comes in, I personally believe there will be high demand for this product and as it is well located just makes it a sweeter deal.
in hot markets the seller holds all the cards and if you want to play you don't have a choice. I hate this strategy, cos I then know I am dealing with a smart agent.
Willagee much higher end value than Cooby and Willagee also has more pockets of higher zoning.
I don't believe higher end surrounding areas such as Melville etc have the higher zoning yet this makes Willagee unique. Even if building villas as opposed to apartments in Willagee I believe they would be very attractive at price point of around $600-620K depending on land component and considering what they asking for surrounding blue chip properties.
I am not at all worried about over supply when zoning comes in, I personally believe there will be high demand for this product and as it is well located just makes it a sweeter deal.
So if I make an offer subject to finance on a set date sale, then a better property comes up, so I make an offer on that and it gets accepted, then 3 weeks later they say, "vendor accepts your offer". Your locked in, then after 21 days your finance gets rejected cause you just bought another place, then vendor needs to start all over again. ??
I've also felt before i was keen on a property and didn't want to feel under pressure so didn't make offer. Then after the 3 weeks is up and it didn't sell and you feel less keen, even more so knowing no-one else is very keen so you dismiss it.
Am sure some will not need finance and its a done deal, buyers will select best offer.
When you have a property which is unique/desirable this strategy is ideal, I would use this in same scenario, create competition, makes sense, we are talking unique properties, something that does not come along very often and is sort after.
When you have a property which is unique/desirable this strategy is ideal, I would use this in same scenario, create competition, makes sense, we are talking unique properties, something that does not come along very often and is sort after.
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amazing - I grew up in Melville, we were never allowed to go over to Willagee! Despite having ties to this locality, I have to say the whole area is shockingly located. Close to... um...
the price was no doubt my parents picked it originally - was the cheapest block they could find with the cheapest house you could build at the time
I can understand that some 20-30 years ago, State Housing conjures up many negatives, probably still does, but I see $ .
It was only about 2 years ago you could pick something up in Willagee in 400s, now we are looking 600s-700s and rising.
Location - well its about 15 km to Perth CBD and perhaps 10 minutes to Freo.
People are buying blocks in the sticks on 250 sqm for $220-250K+, no infrastructure. They are paying more for this land than what I paid, I know which one I would pick.
We don't get to dictate the market, there is more demand than available stock so I would say buyers are seeing something special about this area, most certainly has something to do with the rezoning, location and its a big plus it comes under the City of Melville.
MTR
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What is the zoning be changed to in Willagee/Coolby ect?I can understand that some 20-30 years ago, State Housing conjures up many negatives, probably still does, but I see $ .
It was only about 2 years ago you could pick something up in Willagee in 400s, now we are looking 600s-700s and rising.
Location - well its about 15 km to Perth CBD and perhaps 10 minutes to Freo.
People are buying blocks in the sticks on 250 sqm for $220-250K+, no infrastructure. They are paying more for this land than what I paid, I know which one I would pick.
We don't get to dictate the market, there is more demand than available stock so I would say buyers are seeing something special about this area, most certainly has something to do with the rezoning, location and its a big plus it comes under the City of Melville.
MTR
From R20 to ?
We don't get to dictate the market, there is more demand than available stock so I would say buyers are seeing something special about this area, most certainly has something to do with the rezoning, location and its a big plus it comes under the City of Melville.
MTR
Why the plus for City of Melville?
to various densities. Not sure there is anything moving to R30 but some to R40 and R60
Good council to deal with and seem to be pro development and proactive incentives to improve area, unlike Stirling
Good council to deal with and seem to be pro development and proactive incentives to improve area, unlike Stirling
Thanks Marisa.
Our part of Willetton might get rolled into Melville. But Canning was fighting very hard to avoid it, until the boss of the city was removed
Will see what happens when the council amalgation plan is fully revealed.
Stuart Darby head of research at Reiwa attended our lecture and made some interesting predictions.
There is a lot of supply comming on the market in next 12 to 18 months and the WA economy is slowing so he predicts we will hit 15000 listings by the end of next year with rent prices dropping further . He said 12000 was a balanced market with 3% vacancy rate and multi dwellings will be hit the hardest since 50% of the stock is for tenants (investment and not owner occupier )
There is a lot of supply comming on the market in next 12 to 18 months and the WA economy is slowing so he predicts we will hit 15000 listings by the end of next year with rent prices dropping further . He said 12000 was a balanced market with 3% vacancy rate and multi dwellings will be hit the hardest since 50% of the stock is for tenants (investment and not owner occupier )
back to 12? one minute it's 14, then 15, then no talk of it (because the empirical evidence is that the market is strong but wasn't running red hot at sub 10,sothe balanced market theory was dead in the water). The figure doesn't seem to get adjusted for the increase in the market size each year and seems to be plucked from the air to support the flavour of the discussion at the time. The number may change, but it's never been a better time to buy
We are already seeing an oversupply in various area and rents dropping. I was told that at one point there was 700 villas/units in Balga on the market, perhaps that also included Westminster?? Anyway, its not hard to work out when there is an oversupply prices drop. I would not want to building this stuff unless I was planning to hold as who knows what the end value will be in 12 months time.
MTR - Willagee
MTR,
How much do you think this should go for in this market today...
I know there are a lot of variables etc. etc.
I'm pretty sure this was on the market and went to auction but fell through???
Now they have put a price on it. Just wondering where you see it, in today's market.
http://www.realestate.com.au/property-house-wa-willagee-118005499
Is there any chance you could do a back of an envelope figure based on your knowledge...
Not too fussed on whether it makes any money or not.... just interested. I'm not looking to purchase just have never really looked at Willagee before.
Always looked around Hilton, Whitegum Valley, Hamilton Hill and Coolbelup but have noticed you talk about Willagee a bit lately
Cheers
MTR,
How much do you think this should go for in this market today...
I know there are a lot of variables etc. etc.
I'm pretty sure this was on the market and went to auction but fell through???
Now they have put a price on it. Just wondering where you see it, in today's market.
http://www.realestate.com.au/property-house-wa-willagee-118005499
Is there any chance you could do a back of an envelope figure based on your knowledge...
Not too fussed on whether it makes any money or not.... just interested. I'm not looking to purchase just have never really looked at Willagee before.
Always looked around Hilton, Whitegum Valley, Hamilton Hill and Coolbelup but have noticed you talk about Willagee a bit lately
Cheers
MTR,
How much do you think this should go for in this market today...
I know there are a lot of variables etc. etc.
I'm pretty sure this was on the market and went to auction but fell through???
Now they have put a price on it. Just wondering where you see it, in today's market.
http://www.realestate.com.au/property-house-wa-willagee-118005499
Is there any chance you could do a back of an envelope figure based on your knowledge...
Not too fussed on whether it makes any money or not.... just interested. I'm not looking to purchase just have never really looked at Willagee before.
Always looked around Hilton, Whitegum Valley, Hamilton Hill and Coolbelup but have noticed you talk about Willagee a bit lately
Cheers
I attended the auction for this property. Only 1 bidder. Highest offered $610k.
