Menu

Deals and Don’ts – Bibra Lake, North Perth, Lynwood

Tuesday, 27th Jun 2017

Here we take a look at just some of the different properties on the market and explain why they’re either deals (that represent a good investment) or don’ts (that should be carefully avoided by investors).

Deals

Bibra Lake

Purchase price: $461,500
Purchase date: May 2017
Block size: 696sqm
Specification: 4 bedroom, 2 bathroom, double garage, built in 1982, zoned R20.

Deal: This property represents a great investment because it is subject to rezoning, which would change its coding from R20 to R40, allowing for higher density development. The property is also appealing as it sits on a corner block, allowing for greater design specifications, it is also on a pleasant streetscape and a short walk to a local park. It was also purchased at an excellent price point, more than $50,000 less than the median house price for the suburb.

North Perth

Purchase price: $682,000
Purchase date: April 2017
Block size: 253sqm
Specification: 3 bedroom, 2 bathroom house, fully renovated to a high specification

Deal: The property represents a deal because of its location and condition, which provides good yield and capital growth prospects. Tucked away in a quiet cul-de-sac of a blue-chip suburb, it is situated just 3km from the CBD and walking distance to multiple café strips. The recent, high-quality renovation means the property could be easily leased at a high yield.

Lynwood

Purchase price: $414,000
Purchase date: April 2017
Block size: 812sqm
Specification: 4 bedroom, 1 bathroom, enclosed single garage, built in 1967, zoned R30.

Deal: This property represents a good buy as it’s situated on a large land lot and within close proximity to the Perth CBD. It’s located on a quiet, attractive street just a short walk from local parks. Its zoning allows for future subdivision.

Don’ts

Redcliffe

For sale price: $490,000
Block size: 627sqm
Specification: 4 bedroom, 2 bathroom house, built in 1998, zoned R20.

Don’t: This property doesn’t represent a good investment because it backs onto the recently completed Gateway WA road project and is located under the Perth Airport flight path, both of which would provide significant noise impediments.