Despite the fact the HomeBuilder Grant has ended, Perth land sales continue to stay strong. With the fear of low supply levels and R-codes changing during Perth’s impressive market boom, new and experienced investors are working with Perth triplex development builders and turning their existing blocks into a wealth-building investment.
Last year COVID-19 boosted Perth’s property market when many Australians returned home or relocated to this sunny “Safe Haven” in Western Australia. More recently the record commodity prices & future forecast contributed significantly to an impressive boom in metro WA’s job market. This boom created more job opportunities and increased population growth in the short/medium term, resulting in Perth houses and land continuing to get snatched up by eager home buyers and renters.
Use your existing block to capitalise on Perth’s fast-moving property market
For investors who already own an existing block that can retain and build a duplex, triplex, or quadplex development, now is the time to capitalise on the rapid growth of Perth’s property market and contact a Perth development builder. With lower supply levels on top of the upcoming change to Perth’s Residential Design Codes, the opportunity to capitalise on the current fast-moving Perth market might pass by quickly.
Perth’s Residential Design Codes are changing soon and will limit what investors can build on your block of land significantly. What could potentially have been a triplex site may only be a duplex site in 12-18 months time. Less units, smaller rooms, and potentially only single-car garages will unfortunately result in a lower ROI.
If you have an existing block of land and you’re ready to build a triplex but you’re not sure where to start, an experienced Multi unit builder in Perth can help.
How you can use your existing block to capitalise on Perth’s booming property market
Jubilee Home Builders are residential builders in Perth as well as expert Perth triplex builders.
Our efficient and high-quality process involves a one-stop shop approach that provides our interstate and busy clients with high-quality results without having to be physically present. With free feasibility assessments and extensive experience helping investors grow their portfolio with Perth’s property market, we make the process easy and simple, no matter where you are in Australia.
Jubilee Home Builders’ end-to-end turn-key property development process involves soil testing, full sub-division, construction, development application and approval.
Jubilee Home Builders have a comprehensive design and planning process that takes the overwhelming part away from investors and guarantees each step is completed efficiently and thoroughly.
When it comes to the design of your multi-unit development there are many important factors to consider:
- Sewer location
- Bush-fire zoning
- Council regulations
Each of these factors play a key part in the design of a triplex or duplex, requiring experience and knowledge to ensure efficiency and high-quality results.
Jubilee Home Builders can help turn your existing block into a wealth-generating Triplex development. To capitalise on the fast-moving Perth property market contact us on 08 9571 3512 or email [email protected]
STATS AT A GLANCE:
TOTAL BUILD COST $730,000
RENTAL RESULT: Positively geared at $1440 per week across three dwellings in the Perth rental market
The Jubilee process varies depending on the different needs of each client.
We work with local clients as well as interstate and international investors. For remote clients, not needing to be physically present is vital. For local clients, we work with them to be as involved as they’d like to be.
For this particular project our client already owned a block of land in Perth. Not needing to source available land meant the client was ready to jump straight into the next phase of their efficient development project.
Our client’s goal was to turn the block of land they had owned since the 1990s into a long term investment for their future.
After assessing the development project, Jubilee determined that a three unit development was the best strategy. The focus was to be a cost-effective build, without compromising on quality.
This involved drawing up designs and specs that suited the rental market, for example, not overspending on design options and avoiding luxury fittings.
The client approved the concept, and the final designs for their development project, and the Jubilee team moved forward getting plans approved through council.
The construction program, including subdivision, was executed within seven months from start to finish. During handover, the clients were given keys for their three new rental properties ready for the rental market.
All three dwellings were advertised above market value and were rented within two weeks.
The knowledgeable team at Jubilee also completed a tax depreciation schedule for the client. The client will get eight years of depreciation over fixtures and fittings, AC and flooring. If the development remains a rental the entire building will depreciate over 40 years.
With the three rentals positively geared for quality in future our client was very happy with the outcome.
At Jubilee, we pride ourselves on understanding the nuances and complexity of the development market. Your financial goals are important to us, and our strategy is always closely tied to achieving these.
Whether you need a team to solely work on the construction phase of a development project, or want us to manage the entire project, including identifying suitable land in growth corridors, buying land on behalf of our clients and demolition – we can help.
If you’re looking at leveraging property for your next investment, give us a call today. Joe and the friendly team at Jubilee Home Builders will work with you to achieve your goals and maximise your return on your Perth rental market development.
Call us today on 9571 3512 or email us on [email protected]
If you’re a seasoned property investor you probably have a few properties in your portfolio by now. Maybe one in Melbourne, another one in Sydney, and another one wherever you are located in Australia. And if you’re itching to add another multi-unit development to your portfolio, we recommend considering Perth for your next property development.
Perth’s property market is performing incredibly well at the moment.
With more Australians moving to the “safe haven” of Perth after COVID-19 increased the opportunity to work from home anywhere in Australia, homes in Perth are getting snatched up quickly. In addition to this, the recent boom in metro WA’s jobs market (thanks in part to the record high iron ore prices) has meant more job opportunities and increased population growth in the short/medium term.
Data from CoreLogic has confirmed that Perth dwelling prices rose by 1.5pc during February and 4.6pc over a year. This data indicates that Perth’s property market is performing better than some other Australian states, such as Melbourne with a recorded -1.3pc over 12 months.
THE BENEFITS OF INVESTING IN PERTH’S PROPERTY MARKET
With soft-sand beaches, scenic parks and a thriving metropolis of small bars, delicious restaurants and curated street art, Perth offers everything renters and home buyers would need in an Australian city.
With arguably some of Australia’s best beaches, it’s not surprising many Australia’s want to live closer to Perth’s clear blue water. Some of Perth’s popular beaches include Leighton Beach, Mettams pool, Bathers Beach, and City Beach.
With a plethora of exciting day trip options, your future renters or buyers will never get bored in Perth. The most popular ones include Rockingham and Penguin Island, Swan Valley, and Rottnest Island.
There are many amazing suburbs to choose from for your next investment property in Perth. If you want to build a property investment close to the incredible parks, lively nightlife and street art of the inner city suburbs, consider Bentley, Carlisle or Lathlain. Or there’s Perth’s waterside precinct of Fremantle. For a more family lifestyle there is Churchlands, Dalkeith and Salter Point.
PROPERTY DEVELOPMENT FEASIBILITY
You don’t need to be a seasoned investor to start investing in Perth’s property market. You can start your investing journey now with the help of a Perth property development builder. No matter where you are in Australia, a Perth development builder will take a lot of the overwhelming parts away with expert advice on building a Perth property development.
The right multi-unit development builder will also help you assess whether your potential investment is worth it. Using a property development feasibility assessment your Perth development builder will provide you with a full breakdown of the costs involved and your expected profit. This will minimise the risks involved in your property development and help you determine your ROI before you even begin.
WHY YOU SHOULD HIRE A PERTH TRIPLEX BUILDER NOW
Part of the reason why Perth is a great city to invest in NOW is because Perth’s R-Codes will be changing soon. If you start your building plans now you will have a lot more freedom to build triplexes on a block of land, but if you wait until next year there will be limitations to what you can build on your block of land. This is due to new landscaping requirements: “20% of the block size needs to be green”.
With these changes the total space you can build your multi-unit developments on will decrease significantly, meaning smaller homes, smaller rooms, and potentially only single-car garages.
Jubilee Home Builders are Perth’s go-to property development builders, Triplex Builder and Duplex Builder. With free feasibility assessments and extensive experience helping investors grow their portfolio with Perth’s property market, we make the process easy and simple, no matter where you are in Australia.
Whether you are a seasoned investor embarking on your fourth multi-unit development, or you’re just beginning, we have created a property development guide to help you on your journey.
Download our guide here and begin your exciting journey into becoming a property investor in Perth today.
Contact us on 0895713512 or email [email protected].
Perth’s R-Codes are proposed to change in the next 12 months.
The Residential Design Codes, or R-codes, control the design of residential development throughout Western Australia. This change will affect the number of developments, such as multi-units and townhouses or a triplex or duplex, that you can build on a block of land.
There are many more ways these changes will affect you if you’re a landowner or property developer.
Here is everything you need to know about the changes and what to do about them…
WHAT THE UPDATE TO PERTH’S R-CODES MEAN FOR PROPERTY DEVELOPMENT
Currently, a 728m2 block can accommodate a 3 x single storey triplex development, however, with the new proposed changes, you will no longer be allowed to do this.
This is due to the requirement of additional landscaping with deep soil zones and tree planting on each new development… “20% of the block size needs to be green”.
These new large landscaping required zones will reduce the total space you have available to build your multi-unit development on. This means you will potentially have to build smaller homes, which means throwing away those generously sized floor-plan designs you have.
Smaller homes mean smaller bedrooms, or fewer bedrooms, and no second living (theatre) for the ultimate family lifestyle, with only single garages.
You could gain extra space by building up into a second floor, however, this comes at a greater cost with a longer build time and a higher risk.
The new R-codes will also affect internal room requirements which will give you less flexibility with designs.
As your options are now limited, so is your ROI potential.
Although these changes are out to public comment at the moment, the WAPC has confirmed they would like these changes gazetted in the 4th quarter of 2021.
WHY YOU SHOULD CONTACT YOUR PERTH PROPERTY DEVELOPMENT BUILDER NOW:
That land that you have been sitting on for a while now, with exciting plans to build multiple wealth-generating properties on it, will be worth a lot less in 12 months’ time if it’s not DA approved for development soon.
There is now a deadline (4th quarter 2021) to have plans approved for developments that will increase your ROI and build potential. If you don’t meet this deadline, then the ‘retain and build’ or ‘house behind house’ concepts will be seriously pushed for property development feasibility. This is because the new proposed changes require the existing dwelling to incorporate all of the new changes in the design to the house and also the garden.
Jubilee Homes are multi-unit development builders in Perth with years of experience helping clients get into Perth’s property market and build wealth with property investing.
Contact Jubilee homes today to capitalise on your development project before the R-code changes strip you of your flexible multi-unit development options.
A meticulously planned Perth property development, executed by an experienced team, can yield very significant investment returns. We’ve proven this time and time again with our clients. There are few other investment options that can boast the same level of return, relative to the time and effort involvement of an investor.
It is also no secret that the Perth property market is experiencing a significant boom. Currently, there are less than 3000 houses to rent in all of Perth, compared to 52 weeks ago when there were 6100. Perth is also experiencing a historic low rental vacancy rate of under 1%, with expected rental increases tipped to be between $50-$100 per week for landlords as the rent memorandum ends.
There’s also now less than 8000 houses for sale in all of Perth. 12 months ago this number was 13000. Stock is dwindling and there is strong upward pressure on prices. Don’t wait until it’s too late!
Now’s the perfect time to buy land and develop it. With the market’s growth, the potential profit margin is fantastic, and only increasing.
There are also a few key components that can help you maximise the return on your Perth property investment even more. These include;
A building must be functional, energy-efficient, and aesthetically appealing. To be competitive and to be financially feasible, your development project must create a space that is desirable to the market.
To incorporate and achieve these aspects, you need to engage a specialist development building designer. You need a team that’s an expert at designing developments. Jubilee Home Builders are a local Perth residential construction team. We know the local market, and how to design to cater to higher sales prices. A great design is imperative to the desirability of the home, and the success of your property development venture.
Building on budget
A feasibility study will determine if your development is worth investing in. Including how much to spend and where to spend it appropriately. Building on budget is so important, as cost overruns in property development can negate the assessed profit of a development.
If you make any construction variations, and this is always a possibility, be sure that these variations are within budget range and always get these changes in writing from your builder. There is nothing worse than finding out at the end of the project that your profit has been lessened by variations that have not been accounted for.
At Jubilee Home Builders, we work with an established network of suppliers and trades that are trusted professionals in their fields and experts in development builds. We know what to expect, and our team are great at their jobs, which keeps variations to a minimum.
Completing your build on time
Having a builder that is experienced in property development, and experienced in your build area location, will mean that you won’t be wasting time on council approvals/requirements. At Jubilee Home Builders, we are an efficient, experienced team that will organise your subdivision quickly, based on our years of experience and understanding the nuances of council requirements.
Having a great styling and sales team builder who has recommendations for you.
Once your property development project has been completed, it is now time to put the finishing touches with a styling and sales team. Your development has to look amazing, and it needs to outshine other properties by offering that ‘wow factor’. As established property development builders in Perth, we have a trusted supplier list that we can share with you.
What’s more, is we offer a complete service where we will manage your entire project – from soil testing and engineering, through development application and approval through to completion of the project.
This is great for our interstate clients who want the ROI of a Perth property development but need an expert team to manage the process as they are unable to be on-site.
Whether you’re local, interstate, or international, we will guide you through the process, build it to plan and to specification, and connect you with our professional network as needed along the way.
If you are looking for a property development builder in Perth who can get you the ROI you’re looking for, don’t hesitate to contact us on 0895713512or email [email protected].