This year (2017), West Australia is being considered a separate market to other states because the property market here is on the constant move. Buyers are no longer hesitant to buy just because prices are deemed to “reduce more”. It’s high time to buy, and the real question here is where?
If you’re looking to buy an investment property in Perth, consider the following Suburbs.
Victoria Park. Located just 4 kilometres south of Perth CBD, this inner-city suburb offers investors a rare chance to match convenience with character. The suburb community here is on the rise, and its bustling café strip, tree-lined streets, and character homes are just three of the attractions that will capture the attention of savvy real estate investors.
Balcatta. A short 12 kilometres’ drive from the CBD offering a median house price of around $540, 000, this affordable suburb offers many pluses. Its central location, for instance, makes it a good choice for those who want living close to modern amenities but who also value space. If you have the worsening traffic congestion, then the strong public transportation option here should be on your radar.
Armadale. The wonderful Armadale is still generating favourable returns for investors and homebuyers alike. In 2014, there were more than 350 house sales, with median price reaching 7 per cent increase to $325, 000. There are so many benefits to living in Armadale including access to affordable homes, quality amenities, transport nodes, and government investment in infrastructural upgrades.
Subiaco. ‘Subi’ is a highly-sought lifestyle destination that remains close to the city. It boasts a range of accommodation options as well as a variety of eating out, sporting, and leisure options. A significant level of redevelopment in the area is also seen with Ace Cinema, China Green, Swan River, King’s Park, as well as the Perth Children Hospital and UWA a short distance away. Subiaco is an ideal choice for retirees, families, students, as well as young professionals.
Cottesloe. Although entry costs here are substantial, this traditional high capital growth suburb has maintained property value, even during economic downturn. The median price of homes in Cottesloe is about $2 million, with weekly median advertised rent around $1,000 mark for houses and about $500 for units. The suburb is nestled between Perth and Fremantle and its laid-back lifestyle attracts a varied mix or residents, which just adds to the suburbs excitement.
Alkimos Beach. Impeccably located in the centre of the popular north coast, just 15km north of Joondalup and just 40km north of Perth, Alkimos Beach offers an amazing beach lifestyle apart from just a glimpse of the ocean. Here everything you need is on your doorstep. Also, as one of the safest beaches along the pristine coastline of Perth, Alkimos Beach is for the surf lover.
Whether you’re looking for land for sale to build your dream home on, or a ready to move-in home crafted by expert builders, you can find a Lendlease home and land package in Perth, WA to your liking. Check it out.
Having shown development in the past couple of years, the outlook for the above suburbs in Perth continues to look promising both for investors and homebuyers. What do you think of the locations in this article? Share with us your thoughts below!
Kara Perez is the original founder of From Frugal To Free. She is a money expert, speaker and founder of Bravely Go, a feminist financial education company. Her work has been featured on NPR, Business Insider, Forbes, and Elite Daily.