What a lazy $700,000 can buy in north-east Perth: HTW residential
Dominated by project-style homes on 250 to 500 square metre allotments, $700,000 goes a very long way in Brabham, according to the latest Herron Todd White (HTW) residential report.
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
Up in Perth’s north-east, Brabham is a developing suburb 17 kilometres from the CBD, the report noted.
"Unless you’re looking at the few 2,000 square metre allotments along Park Street, Brabham’s ceiling is around the $600,000 price point," the valuation firm said.
The median house price in Brabham settled at $380,000 for the March 2020 quarter, falling 6.2 per cent over the year.
47 Cob Road, Brabham (pictured above) has recently been listed on realestate.com.au.
Asking $579,000, this four- bedroom, two-bathroom home was built circa 2013 and boasts a cedar lined, gabled alfresco with timber decking, outdoor seating and pool, built on a 512 square metre allotment.
Essentially, with $700,000 you could build a large family home to a good standard, with good quality ancillary improvements and you would still have a bit of change left over, the report noted.
Moving seven kilometres north of Brabham, The Vines presents plenty of options around the $700,000 range.
The report notes the median house price settled at $631,250 for the March 2020 quarter, falling 3.6 per cent since a year previous.
Development in The Vines began around 1990 as a Country Club Estate, centred around two 18-hole golf courses which traverse the suburb.
"Properties here consist mostly of larger allotments of between 2,000 and 5,000 square metres, but more recent development has seen a number of 400 to 800 square metre lots available for purchase," the valuation firm said.
27 Tolladine Vista (pictured below) in The Vines sold in March for exactly $700,000 after 59 days on the market.
The 807 square metre allotment directly faces The Vines Golf Course and is improved with a circa 2007 home providing four-bedroom, two-bathroom accommodation with a double garage.
Ancillary improvements include a pool and alfresco.
Travelling further north to Lower Chittering, it is common for purchasers to be driven by land for animals or equestrian purposes, the report said.
Good sized family homes are available here however a lot of value is taken up by ancillary items such as fenced, cleared paddocks or stables, the report noted.
34 Charolais Trail (pictured below) breaks our budget by $50,000 but is a good example of what product is available.
Selling in April 2020 for $750,000, this property is improved with two dwellings.
The first is a four-bedroom, two-bedroom family home built circa 2013.
The second dwelling is a two-bedroom, one-bathroom granny flat with a kitchen.
Other improvements include two large rain water tanks, portable bore, established gardens, pet yard area, swimming pool, powered workshop, machine storage shed and horse stables.