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Deals and Don’ts – Redcliffe, St James, Greenwood

Friday, 3rd Mar 2017

Deals

Redcliffe
Purchase price: $545,000
Purchase date: October 2016
Block size: 809sqm block
Specification: 3 bedroom, 1 bathroom house built in 1979, zoned R20.

Deal: This property represents a deal as it is located nearby the soon-to-be built Redcliffe Train Station, which is part of the Forrestfield-Airport Link that is under construction. The new train station will provide great amenity to the area and the property is also subject to draft rezoning, which is likely to allow medium density development on the site. In addition to this the property is also in close proximity to the Perth CBD and Perth Airport. The property has also been recently renovated.

St James
Purchase price: $490,000
Purchase date: October 2016
Block size: 582sqm
Specification: 2 bedroom, 1 bathroom built in 1954, zoned R20.

Deal: This property represents a deal given its low price point and future development potential – the property is subject to rezoning as a draft R40. It is also in close proximity to Curtin University and the Perth CBD, which are two major employment and education hubs.

Greenwood
Purchase price: $560,000
Purchase date: October 2016
Block size: 690sqm
Specification: 4 bedroom, 2 bathroom house built in 1987, zoned R20/40.

Deal: This property represents a deal primarily because of its strong development potential being R20/40 and on a corner block, which allows for enhanced project design. The property also has good accessibility to Mitchell Freeway and Greenwood Train Station and is in good rentable condition making it suitable for a family.

Don’t

Queens Park
For sale price: $340,000
Block size: 222sqm
Specification: 3 bedroom, 2 bathroom villa built in 2001

Don’t: This property doesn’t represent a good investment because it is located on a fairly major road in a large homogenous complex of 12 villas. The property is surrounded by medium-density zoning, which will add to supply levels, most likely of similar villa stock, restraining capital growth and rental yields. The property is also under the flight path adding to noise pollution.