7 Suburbs to Consider When Searching for Affordable Investment Properties for Sale in Perth
With its pristine beaches and luxurious lifestyle, it’s no wonder that Perth has been a popular destination for property investors. The city was included regularly in the Economist Intelligence Unit's list of the most liveable cities in the world.
With low-interest rates and high rental yields, Perth has become an attractive destination for those looking at investment opportunities abroad or within Australia. The current favourable conditions have made the affordable investment properties for sale in Perth more sought after than ever before - with demand currently outweighing supply by up close 3 times over.
Perth property prices are rising, with Westpac predicting a significant growth rate this year. Senior economists also predict an 18 per cent increase by 2023. And don't forget REIWA revealing that house values will go up 6-10% in the coming years.
When the real estate market is on an upswing, there are some great places to invest. So, if you're looking for an opportunity and want your investment wisely spent, here is a list of the best suburbs to consider - based on REIWA's latest median house prices.
Willagee is one of the suburbs offering an attractive proposition to property investors. Located just 20 minutes from the Perth CBD, this suburb provides many advantages for homeowners, including schools and highways close by as well as easy access to public transportation through buses or trams.
The median house price here is $530K, meaning buyers don't need much money upfront before purchasing what suits them best. The housing stock in this area includes apartments and double-storey townhomes.
2. South Perth
South Perth is one of the most sought-after suburbs because of its stunning location and convenience. Several property types have attracted professionals who want a low maintenance lifestyle while students enjoy this suburb due to its proximity to universities and apartments. On the other hand, families may enjoy established houses with a picturesque view and nearby essential amenities.
The median sale price of investment properties here is at least $1 million. The breathtaking views from several vantage points help attract good tenants and property investors.
Over the years, Clarkson has proven to be a thriving and high demand suburb. Just 30 minutes from downtown Perth and having its own train station, this suburb offers home buyers an affordable lifestyle where the median cost of homes is at only $365K.
One development site within Clarkson is Catalina Central. It offers family-friendly living with parks for playtime or just relaxing on your own time and nearby shopping centres and quality schools.
With the new rezoning for higher density housing, it's no surprise that Riverton has become a hot suburb for property investors. The close proximity of Rossmoyne Senior High School only adds fuel to this already burning fire.
72 per cent own their home, which provides buyers with a fantastic opportunity, whether they're looking at property investment with vast land size or just wanting some family time away from city life and surrounding suburbs.
When it comes to shopping, Riverton offers a wide variety of stores, and Bull Creek train station is only 10 kilometres away. With an average price of around $600k for property in this area, it became one of the best suburbs to consider when investing in real estate properties.
Forrestfield is a great place to live with its convenient train stations and plenty of amenities suited for all ages. There's the Hartfield Park Recreation Centre, which has an indoor stadium as well other facilities like the 18-hole golf course and equestrian centre. There’s also The Hales Estate which features playgrounds and landscaped parks.
With a median price of $380,000 and available grants in the area, Forrestfield may offer affordable options to buyers looking to enter the property market.
Yokine is located 8 kilometres from the CBD and just minutes to popular restaurants in Mount Lawley, Leederville or North Perth. It is home to West Australian Golf Club, which provides ample opportunities for locals with shopping centres Dog Swamp & Flinders Square nearby too. You'll be amazed by how reasonably priced it can feel at around $586k.
The beauty of Yokine is unparalleled, with its large parks and reserves providing ample opportunity for relaxation. The local schools also make it an attractive place to live in as they offer high-quality education from pre-school through college.
Bedford is a suburb that has seen incredible growth in recent years, with the median property price of $633K and asking rent of $400 per week. This makes it a good place to buy or invest if you're looking for long-term stability. Not only does this location provide proximity to some great amenities like Chisholm Catholic College and Morley Galleria Shopping Centre, but it also gives young families easy access into Perth's CBD via quick and easy public transport options.
If you’re searching for an affordable investment property, Perth has some great suburbs to consider. Take a look at some of them and start your search today! Don’t forget to use a property alert to avoid fraud.
Now is the best time to buy investment properties – the market will only get hotter in the years to come. So don’t wait – seek expert help to find the best investment property that suits your needs and budget.