Wembley Downs

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Wilkinson House, the Wembley Downs home designed by owner-architect Jim Wilkinson, has been sold for $1.022 million.
The <a href="https://www.realestate.com.au/property-house-wa-wembley+downs-126170362" target="_blank">Hale Road</a> home was featured in a 1960 edition of House and Garden Magazine and was sold on behalf of the Wilkinson family.
It features original timber work and an open plan living area including a lounge, dining and study areas.
There are multiple rooms available that could be used in various configurations such as six or seven bedrooms or multiple studies/studios.
An indoor/outdoor patio alfresco area is accessible via glass doors.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/24/146%20Hale%20Road-2.jpg" alt="">
There is a rear garden with a pool which requires restoration.
There is also the potential to develop a duplex block (STCA) of 1012 sqm with a frontage of 20 metres.
Wright Real Estate agent Jeff Wright sold the home.
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Wembley Downs' Wilkinson House sold for $1.022 million

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A three bedroom 1950s Wembley Downs, Western Australia home has recently been sold for $667,000 by mortgagees. 
Matt McWaters of Harcourts Empire Wembley Downs held the listing.
It last sold in 1999 at $261,500.
Set on a 502sqm block, the house at<a href="https://www.realestate.com.au/sold/property-house-wa-wembley+downs-130692238" target="_blank"> 18 Chiswick Street</a> comes with three bedrooms, two bathrooms and double garage.
The house is in need of renovations.
Wembley Downs is a well sought after suburb close to the beach and city with excellent schools close by. 
The property is positioned in the highly desired location west of Weaponess Road and south of Hale Road.
The median price for a home in Wembley Downs is $950,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 6.7 percent.
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Three bedroom Wembley Downs, WA mortgagee home sold  

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A two bedroom Wembley Downs, WA duplex 11 kilometres from the Perth CBD has been listed for $10,000 less than what it sold for in 2008.
In 2008 the property traded for $460,000, however the vendors are only seeking $450,000 plus this time around.
Daniel Caccamo and Rav Kandola of Davey Real Estate have been marketing the listing since May.
Situated at <a href="https://www.realestate.com.au/property-duplex+semi-detached-wa-wembley+downs-131202326" target="_blank">46 Stockdale Crescent</a>, the 1969 built home comprises 75 sqm of internal living space as well as multiple outdoor entertaining areas.
The home features an open-plan designed kitchen, living and dining area, a separate laundry plus a split system air conditioner.
Located within walking distance to several schools, it is only a short drive to the redeveloped Scarborough Beach and Floreat Forum.
The adjacent duplex at 44 Stockdale Crescent last sold for $585,000 in August 2013.
According to the listing, the property has "a motivated seller, this property MUST be sold."
The property has been offered as a rental several times since it's 2008 sale, first in 2012 seeking $460/pw.
It sought an identical amount in 2014, while in 2015 the property was marketed as a rental property with a price point of $385/pw.
Asking prices for the Wembley Downs postcode currently range from $497,000 for all units to $699,300 for 3 bedroom houses.
SQM Research estimate that investors could rent this home for approximately $384 to $470 per week.
<img src="https://www.urban.com.au/images/2019/7/9/Wembley%202.JPG" alt="">
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="https://www.urban.com.au/expert-insights/buying/98408-bargain-property-at-mount-eliza-home-at-2-million-discount" target="_blank">Mount Eliza</a>, and <a href="https://www.urban.com.au/expert-insights/buying/100193-bargain-property-in-central-geelong-sale-price-dips-after-one-year" target="_blank">Central Geelong</a> and <a href="https://www.urban.com.au/expert-insights/buying/99141-bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss" target="_blank">East Perth</a>.
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