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Where is a good place in perth to buy a rental or investment property

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  • Where is a good place in perth to buy a rental or investment property

    Hello
    We are trying to get in the investment property market in perth and would like to know where a good area is to buy in we are not looking at places in the low $3k any help would be great.

    Thanks

  • #2
    Hi Hairbear1
    this is a tough call, as I believe the median house price in Perth is around $450,000 so you will not get much for your money unless you are looking at a unit.
    I live in Perth and invest all around Australia.
    If you are following the cycles I would personally look over East as you will possibly achieve better growth in the long term.
    Perth market is falling and there are some good buying opportunities.

    I would consider Mandurah area which is a coastal town approximately 2 hours from Perth, property market has crashed here and you can pick up some amazing buys in your price range. Alternatively look at Rockingham, Singleton these are coastal areas now sure whether you would get something as low as $320,000 however you could pick up a townhouse/unit.

    Rental yields are not good in Australia generally, you will be averaging if lucky 5% so you need deep pockets.

    Also, check out somersoft forum, this is a great site to education yourself on the Australian property market.

    Cheers, SS

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    • #3
      what about affordable properties in any mining towns in Perth? Are there any such places?

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      • #4
        i was shocked by prices of kunnennara? when last i looked

        i expected them to be pretty cheap but they were worth more than new due to the gas project expansion

        with the amount of well paid miners in the outback

        who have families in perth

        i would expect to have to look hard
        have you defeated them?
        your demons

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        • #5
          hey hearrbear1, are you from perth or from another state?

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          • #6
            Merits:
            Higher Rent
            Higher Deprecation.
            Residential Tenancy Act doesn't apply on leases <60days or for Holiday Accommodation.
            High end market is often corporate tenants.

            Demerits:
            Higher management fees & advertising costs.
            Higher maintenance costs.
            Costs to maintain furniture.
            Most banks don't take rental income into account if lease is <6m or not a proper lease.
            Higher vacancy rates (not always).
            Very volatile

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            • #7
              so hairbear, were you able to find some 300k properties around perth? how did you go?

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              • #8
                Hi

                There are apartments near Perth for that kind of money, small & old, but tidy & getting a reasonable return. Mandurah is less than an hour away by train and lots of people commute, so is worth a good look. I haven't looked at prices there. I have a copy of the Aussie Prop Investor from April showing all the yields "hot 100". If you would like it PM me and I'll post it out, or catch up for a coffee.

                Main problem with mining towns is getting a tradesperson when required, and the high cost. Cheaper properties can end up costing a lot. Works for some though.

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                • #9
                  Hey,but good luck on investing within Perth! http://www.propertyinvestmentplanning.com.au/perth.htm This is a site that should haveeverything you need about investment in Perth.

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