Perth land up $40,000 to be most expensive of Australian capital cities; THE median price of land in Perth has skyrocketed by $40,000 over the past year.
Tweet Topic Started: 1 Oct 2014, 05:51 AM (3,382 Views)
My 5% prediction is in line with my long held predictions which have happened to date from 2 years ago.
Yes Mike, like your prediction for $140 Iron Ore made not that long ago.
You are a dumb fvckwit and I will not be responding to any more of your posts.
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You would not last 5 seconds with me, you ignorant fool.
If you would like to finish me off in five seconds, send me a PM and we can meet up somewhere and test your prediction on that one.
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How could I be so accurate time and time again. 5% wont make anyone rich, you are a complete fool.
You are not. You make many predictions and keep quiet about the ones that go wrong and shout about the ones that sort of go right. How could you be so wrong about Iron Ore? The writing was on the wall for that one two or three years ago to anyone who understands basic supply and demand rules. Somehow you managed to cock that one up. Why should you be right about anything else?
Face it Mike, in your position, with your made up property empire, you need that 5% over the next year just to break even. Otherwise you wouldn't spend so much time on here trying to convince everyone that they should buy houses today before they go up just that little bit more.
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.
How could I be so accurate time and time again. 5% wont make anyone rich, you are a complete fool.
You are not. You make many predictions and keep quiet about the ones that go wrong and shout about the ones that sort of go right. How could you be so wrong about Iron Ore? ... Face it Mike, in your position, with your made up property empire, you need that 5% over the next year just to break even. Otherwise you wouldn't spend so much time on here trying to convince everyone that they should buy houses today before they go up just that little bit more.
That's true. Mike's predicions are mostly failures. I could have done better myself tossing a coin.
Mike you are obviously just here on the forum to try and ramp up confidence in EVERY aspect of the economy. A pretty silly undertaking considering how nearly EVERY aspect of the economy is trending down down down. I never have never had time for sprukers, on of off the internet and you are clearly just a spruker. As for your claims of being a big business mogul, well that doesn't jibe with your posts and attitudes here on the forum now does it.
I know a few business men of the calabre you pose as, and they would never come out with the rubbish or abuse you do. You sound more like a commission only house salesman to me, someone with far too much time on his hands. Successful people don't spend all day squabbling on obscure internet forums Mike. Successful people still at work are just that, Working hard, playing hard.
That's true. Mike's predicions are mostly failures. I could have done better myself tossing a coin.
Mike you are obviously just here on the forum to try and ramp up confidence in EVERY aspect of the economy. A pretty silly undertaking considering how nearly EVERY aspect of the economy is trending down down down. I never have never had time for sprukers, on of off the internet and you are clearly just a spruker. As for your claims of being a big business mogul, well that doesn't jibe with your posts and attitudes here on the forum now does it.
I know a few business men of the calabre you pose as, and they would never come out with the rubbish or abuse you do. You sound more like a commission only house salesman to me, someone with far too much time on his hands. Successful people don't spend all day squabbling on obscure internet forums Mike. Successful people still at work are just that, Working hard, playing hard.
I take it you don't have internet access at work, a Ipad or tablet PC, Smart phone with that uses the internet. Most busy people have such devices to use while mobile. I have them so I have all my building plans, emails, photos of my developments with me at all times when I visit the construction sites.
You don't see me posting here all day or night like some others in this very thread, I rarely post anymore due to being too busy.
Yourself and more particularly Jimbo make up so many stories that are just pure BS. Jimbo thinks the Perth market is Waikiki. People who live in Perth consider this area to be like a rural town. No one who lives in Perth's considers the Rockingham or Mandurah to be part of the Metro area, while technically it is, most of us people say it is not.
Blondie did say one thing right a few weeks back. Rockingham and surroundings is Bogan-ville, that is how Perth considers Rockingham and it is true.
... And some people still say the fhb grant doesn't inflate prices. Switch fhb grant to new builds, and land goes up. Who would have thought?
FHB are playing a role but that is not what is driving the market in new builds. FHB demand has remained steady with new builds increasing as a proportion but not by a large amount to drive prices.
If you were in Perth just go for a nice long Sunday drive and you will find it is upgraders buying expensive blocks of land and build nice quality homes on them. Lots of subdivision happening with huge homes being built, large old blocks being knocked down to allow new builds.
There is far more activity in the upgrader construction area at present, so much that I am finding it hard to get bricklayers for a new home I have just started building. This is my 3rd new home I am building for my family in 4 years. This is to live in. The slab is already down, soak wells in, but now have delays as too few brickies, to do all the work.
As for land prices I bought this Land in Port Coogee in late 2011, settled early 2012 for just over $500,000. The valuation completed for the lender put the land price in August 2014 at $690,000. I could sell it now for $700-750k just the land. I doubt I will ever sell this location as it is simply to nice. What that high land valuation did though is really reduce the LVR % which enabled me to not contribute any large amount of cash to reduce the LVR, as I wanted to secure a very low interest rate. So the large equity enabled me to keep a pile of cash rather then give it to the lender, all due to land price growth in this location.
I knew this would happen though, that's why I bought land in this area when the market was declining in 2011 and they could not give the blocks of land away, so got a great price and deal. Turned out very well.
In 5 years when Port Coogee is all finished I expect it to be one of the premier Perth locations to live, it is a great area and life style. Unfortunately I need to patient as construction is likely to not be finished until end of 2015 due to the size of the house we are building, and these delays with contractors due to so much activity at present are not helping. It is adding to the construction time which adds to my costs.
You will recall a number of months ago I talked about rising land prices and how it was stoping me doing any more developments other then what I currently have building. This is why, land prices have risen considerably and to much competition to secure quality large blocks, hard to see how to turn a profit when paying such high prices. So I wont be doing any large developments for awhile, I am switching to sub dividing existing properties I own until the land market cools.
As mentioned previously I have a family member living in Port Coogee , she has lived there for a few yrs, when she first moved in after the home was built, it was really isolated, over time it's really grown in the amount of homes built. She loves the life style, & her neighbors are very friendly. You will notice there's a lot of wealthy prople who have various businesses living there. The homes are made with quality & thought in mind.
Her home was built by her late hubs which was built wth thought on quality & class. No, it's not boganvillia.
The downer is the fact that living near ocean has the negatives With its salt effects. Also it does get windy at times.
I'm amazed at what those itty bitty apartments are going for ...depending on the number of brms.. Did go for a sticky beak previously.
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.
Her home was built by her late hubs which was built wth thought on quality & class. No, it's not boganvillia.
The downer is the fact that living near ocean has the negatives With its salt effects. Also it does get windy at times.
Port Coogee may be nice in ten years time but at the moment it is nothing more than a giant building site and has been for the last five years. I know the area well as I used to fish at the old Robbs Jetty.
It gets as blustery as hell in the afternoons as it faces due west and is north of the protection of Garden Island. The Dome cafe is quite nice and I was there at the launch party late last year. Not much else there at the moment although the banners state there will be shops and restaurants.
If a passenger train service was opened on the old railway into Freo Esplanade it would help, but as it is, commuting into Perth would be hard work.
Still quite a few blocks for sale which I find odd considering that Mike claims Perth upgraders are starved of decent land opportunities in prime areas? Also, quite a few of the earlier built houses are up for sale at the moment. You can still pick up a block there for $530k and as the whole site is terraced, that would give you a clear ocean panorama from a second storey balcony. Hardly expensive for a level ready to build plot with all retaining walls in place.
Coogee is quite a popular spot with hoons, especially Robbs Road which is more rubber than road.
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.
As mentioned previously I have a family member living in Port Coogee , she has lived there for a few yrs, when she first moved in after the home was built, it was really isolated, over time it's really grown in the amount of homes built. She loves the life style, & her neighbors are very friendly. You will notice there's a lot of wealthy prople who have various businesses living there. The homes are made with quality & thought in mind.
Her home was built by her late hubs which was built wth thought on quality & class. No, it's not boganvillia.
The downer is the fact that living near ocean has the negatives With its salt effects. Also it does get windy at times.
I'm amazed at what those itty bitty apartments are going for ...depending on the number of brms.. Did go for a sticky beak previously.
Very close to Freo.
Our block Is right down close to Coogee Beach, we have about a 70m walk to the sand. We are 2nd row from the beach, and well protected from the wind with houses around us.
3 bedroom apartments are going for close to $1 million. I can understand why though, you cannot buy anything else like it close to the beach, Freo, City and a marina if you want the boat lifestyle. So it appeals to younger couples plus older people looking to downsize. Will be lots of cafes, restaurants and shops in a few years when all the central development is completed.
One property in Port Coogee the land cost $2 million and the house construction $9 million, I was talking to the owner an Italian builder. The house is something to behold, a palace. 3 storey homes over looking the ocean and marina are common, massive homes built by some of Perths best quality builders. It is a very interesting area to drive around and see all the different designed homes, good for ideas if you are looking to build in the near future.
It will be Perth's largest Marina development when completed, dwarfing Hillarie's for size and quality of homes around it. Most of the land is sold there now, you can only get blocks as they release new areas which sell very quickly. Now it is so much more built up it is a lot more appealing and so much construction happening right now. Be interesting to watch it all come together over the next few years.
Jimbo
6 Oct 2014, 09:36 AM
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Port Coogee may be nice in ten years time but at the moment it is nothing more than a giant building site and has been for the last five years. I know the area well as I used to fish at the old Robbs Jetty.
It is a lot more built up now, huge amount of houses built over the past year. The central area has a lot of construction down close to the marina as 2 Apartment complexes are just completing now and 3 more about to start construction.
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It gets as blustery as hell in the afternoons as it faces due west and is north of the protection of Garden Island. The Dome cafe is quite nice and I was there at the launch party late last year. Not much else there at the moment although the banners state there will be shops and restaurants
No more windy then the Northern Beaches, but that's what you want in Perths summer, the Freo Doctor to cool you down on the hot days. It is a god send.
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If a passenger train service was opened on the old railway into Freo Esplanade it would help, but as it is, commuting into Perth would be hard work.
That idea has already been canned, and thank god. Don't want a loud railway operating, plus that line runs right through all the South Beach developments a little to the North, so it wont happen.
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Still quite a few blocks for sale which I find odd considering that Mike claims Perth upgraders are starved of decent land opportunities in prime areas? Also, quite a few of the earlier built houses are up for sale at the moment. You can still pick up a block there for $530k and as the whole site is terraced, that would give you a clear ocean panorama from a second storey balcony. Hardly expensive for a level ready to build plot with all retaining walls in place.
A new release came out a few weeks ago and most are sold, just go speak to Trent down at the sales office. A few private lots for sales and out of hundreds of homes I think a few for sale is normal. Had a bunch of Display homes sell last year and earlier in the year.
$530k is entry level blocks along way from the beach with possible ocean views if you don't get built out. You will have 5 storey apartment buildings down by the marina which will block views of many homes further back. 2 years ago you could buy entry level blocks for $400k in better locations. Where I bought the row in front of my block which has uninterrupted ocean views sold for $850-900k plus 3 years ago. Over near the marina small blocks under 300sqm sold for almost a million and now they have 3 storey homes on them. A lot more construction out on the blocks with there own jetties, those blocks sell for $1.2-$2 million.
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Coogee is quite a popular spot with hoons, especially Robbs Road which is more rubber than road.
Never seen any hoons through Port Coogee and I am down there almost daily, you also don't see any tyre marks anywhere and Australand has its own security that patrols day and night, plus CCTV cameras. I think the hoons know to stay away or they lose the car and end up in court.
Never seen any hoons through Port Coogee and I am down there almost daily, you also don't see any tyre marks anywhere and Australand has its own security that patrols day and night, plus CCTV cameras. I think the hoons know to stay away or they lose the car and end up in court.
I was down there yesterday looking at a 1.2 mil block on the inside of the northern breakwater. For an absolute waterfront block with its own mooring space, 1.2 million is peanuts.
I lived some of my early life in Hammy Hill and the reason that not much was built west of the hills in Spearwood, is because of the strong winds. That is why the ocean facing land from Leighton all the way down to Kwinana was used primarily for industrial use with housing being built further inland in more sheltered areas. Rockingham foreshore area was the first place south of Freo to have waterfront properties as it was sheltered from the westerlies and the swells by Garden Island.
The best benefit from the Freo Doctor is gained by properties that sit behind the first line of dunes. You get the breeze without being blown away. Port Coogee sits on a westerly facing slope with no natural protection. I think you will find that solid structures like houses will act to form wind tunnels making the winds more intense. In the summer, the Doctor kicks off at about 11.30 am and the popularity of the South Beach area with kite surfers is testament to the high winds around Coogee.
I have no doubt that Port Coogee will be a nice place one day, but it is taking one hell of a long time to develop. There is also not much around in the way of facilities. Nearest schools are in Spearwood as is the nearest shopping centre.
You can buy a 2 bed 2 bath ocean view apartment off the plan for 640k which again doesn't seem that expensive to me.
I haven't ruled out Port Coogee yet but my personal preference will be the new marina at Mangles Bay, Cape Peron in Shoalwater. Not sure though if I want to wait two or three years before the first ground is broken. Also looking at Mandurah around San Remo as there are a few bargains there at the moment and I reckon there will be even more in the next year or two.
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.
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