Author Topic: Suburbs to purchase home in Perth, Western Australia  (Read 3558 times)

kyliec

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Suburbs to purchase home in Perth, Western Australia
« on: February 03, 2015, 04:28:45 PM »
Hi all,

it looks like we may be moving to Perth in the next few months for my husband's job.

I've been looking at realestate.com and also have had a weekend trip there to check out some areas.

I wanted some advice on good areas to buy a house in.

Criteria:
- within 20-30 minute commute or bike ride to CBD (husband's potential workplace). Close to train line (best) or bus to city. I'm not sure where I would be working but would prefer to be somewhere central to maximise options.
- quiet neighbourbood but reasonably close to a cafe scene.
- close to a beach would be good
- decent sized, fenced block (400m2 or more) - we have 2 dogs. They will be outside when we are at work so don't want them baking in a little concrete courtyard! They need shade and grass.
- nice streetscape
- probably prefer a newer style or renovated house - with ensuite and walk in robe if possible
- budget up to $1.2M
- Would prefer 3 bedrooms but 2 ok.
- no kids so don't care about schools

What area can I get good value without living in a high crime / high poverty area? Any thoughts on where to avoid?

thanks for any advice
Kylie


alsoknownasDean

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #1 on: February 03, 2015, 05:42:35 PM »
For how long are you planning on living there? Do you think Perth prices are to increase considering the mining boom has ended? If you're only there a few years, would renting be a better option?

Also $1.2m is an insane amount to spend on a house. That's an FI-level nestegg. Surely you could get something decent for much less?

urbanista

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #2 on: February 03, 2015, 06:33:14 PM »
Also $1.2m is an insane amount to spend on a house. That's an FI-level nestegg. Surely you could get something decent for much less?

Sure, one can get something for much less, but that "something" isn't going to be 20-30 minute commute or bike ride to CBD, close to cafes, beach, renovated and on a good block with nice grass backyard for 2 gods to run around. 1.2M is actually pretty realistic number.

kyliec

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #3 on: February 03, 2015, 07:19:25 PM »
for what it's worth - we have a house worth around 1.1- 1.2 million in our home town of Brisbane with around $145k mortgage. So I feel it is a realistic price. I want to buy rather than rent - the money we spend would be more to rent (given our small mortgage) and I would expect difficulties finding a decent rental that accepts 2 dogs.


vagon

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #4 on: February 03, 2015, 07:44:21 PM »
Probably worth considering how much money you have invested in domestic property verses other asset classes.
I am assuming its fairly seriously out of balance if you are not already retired and your home currently has $1mm+ in equity.
How would you feel if property prices fell 10%? How about 30%? More?

A couple of other things to think about:
-Interest rates are low so you have historically cheap funding.
-Investors also have access to this funding and may have ramped prices up to the point they wont grow for you.
-You need to consider how you have structured the finances your Brisbane residence. If you have paid a lot off instead of keeping it in offset you may get some poor rental returns (if you are planning on renting it out)
-The likely timeline of your husbands employment in Perth
-The industry he works in
-Your likelihood of working
-Do you really need an ensuite and proximity to cafes? <insert face punch>

kyliec

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #5 on: February 03, 2015, 08:07:17 PM »
Hi Vagon,
my question was more seeking advice about suitable areas in Perth rather than advice on how much to spend on a house. As I've been to Perth only once, any advice on suburbs etc would be most appreciated.

For what it's worth, we would be selling our house in Brisbane to purchase a new place, I would be working in Perth full time (don't anticipate major difficulties there) and we would be living there for the foreseeable future. I am comfortable enough with the price we are looking at. Expecting that we will be both on decent wages and aiming to pay off the remainder of the mortgage ASAP. We also have some exposure to Australian and international shares so not too concerned about asset allocation.

I could live without an ensuite - it is a preference rather than a requirement :)  I don't go out a heap but when I do I enjoy having access to local places (and feel it is a selling point for down the track).

We are otherwise fairly frugal (no kids, one car, don't buy too much 'stuff') - but living in a house that is right for me in a good area is a priority for me.


KirstyB

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #6 on: February 03, 2015, 08:28:47 PM »
Haven't lived in Perth since 2008 (and we rented while there) but suburbs that are close to the beach, city, and train all fall within the western suburbs - the most desirable in Perth; Nedlands, Claremont, Mosman Park, etc. You could try looking a little further north, although the train line is further inland at that point. You'll get more for your money though to the north, and the beaches at Waterman's Bay, Hillarys etc are nice. As we lived north of the river in City Beach I have no idea of the best locations south of the river. If you are up for cycling in to work, it was a 15 minute drive or a 30 minute bike ride to the city from City Beach for my husband when we lived there. A little closer to the city in the same direction was Subiaco (great for younger people, lots of restaurants etc), and it's close to Kings Park for the dogs. Hope that helps a little.

kyliec

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #7 on: February 03, 2015, 10:17:04 PM »
Thanks KirstyB that's just the kind of info I'm looking for :)

vagon

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #8 on: February 03, 2015, 10:19:43 PM »
Cool, it seems like you're making the right moves then if its more of a permanent move I see no problem with your price range.

I'd suggest checking out Wembley you should be able to get a house > 400m2 for your price range. Its close to both the beach and downtown, about midway between the two to the west of downtown.

TB_J

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Re: Suburbs to purchase home in Perth, Western Australia
« Reply #9 on: February 24, 2015, 10:38:23 PM »
Hi

Be wary of paying an unnecessary premium for living west of the CBD.

I would absolutely recommend inner city suburbs like South Perth and even more so Kensington (..it's a bit of a secret..very small, 2-3km's from CBD serviced by cycle paths and walking paths, public transport, walk to the river, handy to numerous cafe strips, still only 20 minute drive to the beach). You could get a nicely renovated character home or newer home on a good sized block with your budget.

Other areas would include North Perth, Mount Hawthorn, Leederville and to a lesser extent Mount Lawley (quite pricey). All very close to CBD with good access to public transport, freeway and cycle infrastructure.

If you've got 2 dogs I'd also suggest the top end of Victoria Park - lots of parks and handy to the foreshore + cafe strip with excellent public transport.

Good luck