Greenfields is a rough area of Mandurah, getting better over time. My brother built a 4x2 in Greenfield for under $300k in 2011.
Prices have certainly moved up since then and by a good margin. Your example of one property is not indicative of the market for the entire suburb as RP data and other indices show. Perhaps you have found a bargain.
It depends on where the properties are. The Riverside area shot up in price prior to 2007 as people started buying weekenders in droves. This was mainly due to the freeway and railway making that part of Mandurah closer. I thought about buying back then but it didn't seem worth it. Away from the river and north of Lakes Road, prices just followed what the rest of Perth did so there was no big increase or decrease. The majority of property in Greenfields is pretty average with the falls happening in the higher price brackets.
It is the Riverside area that is seeing the falls at the moment. There are six decent properties sub 400k that I could buy and all are within a few minutes walk of the Serpentine.
Away from the river you can still buy properties sub 300k but I am not interested in those areas.
The canals in Yunderup are not somewhere I would ever consider and I have relatives who live opposite the entrance on the other side of the Murray (Culeenup Road). I have stayed there many times over the years and seen the canals develop and in my opinion they are over rated. My mates block is not on the river but was close enough to be inflated up by the scramble for land in Ravenswood in 2007. It has now corrected to what would be fair value.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
The worst bit of all this is, I have no idea who you are, what you have etc.
You have the upper hand in this discussion as you have all my information. Therefore can attack at will.
Im not stomping my feet, I just don't appreciate the sort of stuff that is being said on a public forum. Say it to my face, in emails whatever, I don't care. Just not all over the WWW for everyone and anyone to see.
How is this not reasonable?
Paddy do yourself a favour and stop engaging with anonymous bloggers and stop giving more personal information away.
You will be better prepared for this next time. Think of it as a learning experience. The price of fame if you like.
Any expressed market opinion is my own and is not to be taken as financial advice
Can anyone recommend a good forum where I can actually seek advice, and not just be trolled?
Here or Somersoft.
There is very good knowledge here but it's not really general property knowledge. Perhaps the bloggers at Somersoft would be more to your liking. They discuss a lot of things that you would benefit from. Maybe you should post under a handle if you are a bit sensitive, although at Somersoft they won't rip into you like some do here.
Anyway go over and have a look. Stay away from MB they are far more one eyed there.
Any expressed market opinion is my own and is not to be taken as financial advice
The Internet is permanent, & there is nothing private about it, jealously of ones reality can lead to some loopy unstable individuls making personal threats.
I've just about about called everything horrid . , sometimes I'm hot headed & I was in the wrong. Nothing is worth compromising ones own & their loved ones safety.
As Peter states learn from the negative.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Can anyone recommend a good forum where I can actually seek advice, and not just be trolled?
Just ignore the trolls.
You do know this forum has an ignore function so you wont even see the posts from people you don't like.
I don't use ignore, I see the names and skip those posts as not worth my time reading them. If you don't read the posts then it never really happened did it, not to you anyway.
Conversely, Patrick should avoid MacroBusiness. If they find out he is a negatively-geared property investor, they'll either A) eat him alive or B) throw him to the sharks.
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