Once you have reached your decision to purchase a property in Perth, the next question is where.
Perth property investors are on the lookout for high rental yields or capital gains, while the home-occupiers are looking for a good home and a safe place to live – somewhere they can enjoy the Perth’s leisurely lifestyle.
Understanding the micro-market as well as the macro-market is an essential part of the Perth property buyer’s due diligence when hunting for a Perth property. The good news is that there has recently been a rapid increase in the number of properties offered for sale.
There are three main areas in Perth that guarantee success for almost any property buyer, but all of these three come with the premium. As a buyer agent in Perth, we maintain that the property buyers won’t go wrong in the long run if they buy a property in Perth close to either:
Swan River or Kings Park or Indian Ocean
HIGH RENTAL YIELDS SEEKERS
For investors looking for areas of high rental yields we recommend these areas:
- East Perth – This is an area in a free transport zone, close to river and CBD. East Perth units recorded one of the top yields for Perth’s metropolitan area (average Perth rental yields for units are 5%).
- West Perth – the area where resource companies are clustering and very popular for executive rentals. Like East Perth it is close to CBD and within a free transport zone. An extra benefit is its close proximity to the Kings Park. Not as high yields as East Perth but very low risk.
- Victoria Park – the cheaper end of the investment market. Not far from the CBD or river, close to Burswood, a big employer. Older style units with better than average yields.
- Joondalup – 24 km from CBD. Proximity to ECU University, Police Academy and a Health Campus. New housing stock, better than average gross rental yields are possible in certain pockets of this new town.
HIGH CAPITAL GAINS SEEKERS
Mark Twain once said: “Go buy land, young man; after all, they’re not making any of it.”
- Bentley- proximity to Curtin University guarantees both good rental yields and some land appreciation.
- Ashfield & Bassendean – this is a rather cheap area with lots of social housing that has prospects of being positively affected by a redevelopment of the Perth Airport. The land appreciation might be significant over medium to a long term. Only 9 km from CBD, direct train line to the City and close to the Swan River. Beside the possible effect of the redevelopment, the Town of Bassendean has plans for the river shore revitalization
- Scarborough – it has long been a popular destination for tourists and one of the most affordable beach suburbs. There is a major development changing the face of the beachfront. The Council is considering introducing light rail transport, most likely in the shape of trams.
