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Alkimos WA - House Land package investment option

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Amit | 03 Oct 2013, 09:30 PM Agree 0
Hi All,

I am inclined to invest a in a house and land package in Alkimos WA.

Land : $200K
Construction: S180K

Total cost: $400K

Property will be built by October next year.

Would it be good investment option ?

Information about Alkimos as told by the H&L selling agents :-

Alkimos- 42km away from Perth CBD. 20mins from Joondalup. Planned train line & freeway extension to Alkimos over the next few years. Perth's north-west corridor is expected to grow substantially over the next 25-30 years generating an estimated 40% of new land for the entire Perth Metro area. Alkimos is one of the largest and most significant coastal developments within this corridor. LandCorp and the Department of Transport have identified Alkimos as a possible location for a major Hillarys'-sized marina.
  • Eos Property | 13 Oct 2013, 10:44 AM Agree 0
    HI Amit,

    Alkimos is a long way from much and this would be a definite long term buy. At that price you would be surrounded by large number of first home owners, many of whom have managed to afford these properties on the back of very low interest rates. I am always wary of being surrounded by FHO as it is this group who typically over-leverage, over-borrow and get caught when rates rise (as they will).

    For what it is worth I would argue you are better off closer to the city. It won't be a house and land but it is closer to all of the infrastructure people now want.

    Using the Mitchell Freeway in peak hour is akin to parking at the local shopping centre and being a long way out will detract from future prospects.

    Hope this helps
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