Property has always been a good long term investment and nothing has really changed. The Perth market still provides opportunities to build wealth for the savvy investor who is prepared to think outside of the box.
Location, location, location
While the blue ribbon like the Western suburbs and riverside areas of Perth are showing stability and will always be popular with people seeking to live in premium lifestyle areas along the river and beside the coast, if you’re looking for a good return on your investment, it’s time to consider some of the Cinderella Suburbs that you may have once dismissed.
Build it and they will come
The astute investor always keeps an eye on where major developments are planned or underway, because major development invariably provides opportunity. When you consider the top ten suburbs forecast for the 2015/16 financial year, you will notice that the majority of them align with major infrastructure developments, or are close to major development hubs.
- Forrestfield – the Forrestfield-Airport Link project will provide new rail services and improved bus networks for the Eastern Suburbs, foothills and surrounding community to the Perth CBD. Once complete Forrestfield will be a 20 minute commute to Perth
- Scarborough – The State Government’s $50 million investment to upgrade the Scarborough foreshore area, has leading developers taking advantage of the more relaxed higher-density zoning.
- Midland – the Midland Master Plan which sets out plans to accommodate a doubling in the suburb’s population to 12,000 people is putting Midland firmly on the investment potential map.
- South Perth – the recently commenced $380 million apartment tower is just one of several developments in the popular area around Mends Street where older properties still represent good value for money and rental returns.
- Kewdale – Often overlooked, Kewdale units have a median price $395,000, with annual capital growth 7.19%, and a weekly median advertised rent of $420 and is still within a 10k radius of the CBD.
- Northbridge – right on the city doorstep and within walking distance of everything, Northbridge is hugely popular with young professionals who like to live close to where they work and play.
- Clarkson – the new business hub is opening up opportunities in this popular northern suburb which is now on the train line.
- Kwinana – Listed as a Prime Town Centre development opportunity, 13,635m2 of land with planning approval for residential and mixed use was released for tender in September – developments of this scale improve amenity in the area making established property popular with first home buyers and investors.
- Spearwood – so close to Fremantle with big blocks and lots of subdivision opportunities, Spearwood is very popular with families.
- Wandi – Just 20 minutes from both Perth and Fremantle, close to Mandurah, the area will soon to be serviced by the new Aubin Grove rail station. Wandi offers a great mix of new developments and semi-rural lifestyle properties.
Planning to expand your investment property portfolio?
To discuss your property portfolio and future plans, contact your preferred ACTON office to find out how we can assist you.