Wednesday, July 29, 2009

Perth's Best Suburbs according to experts (part 2)


Here is part two of the post we had on what the experts are tipping to be the must see suburbs in Perth
Travis Coleman, valuations manager, Propell National Valuers
Safety Bay

YOU can still buy established houses in this coastal suburb for less than $400,000. Block sizes can be more than 800sq m. The area is undergoing urban renewal, with a major redevelopment
planned for the nearby Waikiki Hotel.

Warnbro

Another Rockingham coastal suburb that has a large selection of affordable properties for sale.
The suburb has the attraction of having a railway station nearby. Older-style homes that are not
yet renovated can be bought for near their land value. The spread of urban development in
areas farther inland, such as Baldivis, should make coastal homes in areas such as Warnbro more valuable over the longer term.

South Perth/Como

A prime inner-city location where you can still buy older townhouses and apartments for under $500,000. Historically, property owners in this area of Perth have enjoyed high levels of capital
growth. Astute investors should target older-style rental properties that appear ‘‘tired’’. These properties can be transformed by some minor improvements, such as paint and carpets.
The suburb has easy access to the city centre and a high level of social infrastructure, including schools and parks.

Greenwood

A well-established suburb in the northern coastal area where the median house price is $440,000. House prices in the area are very affordable relative to its distance to the city centre. The suburb also has the attraction of having a railway station. Block sizes are large and land values
should continue to increase as a result of urban developments to the north and east of
Greenwood.

Beldon/Heathridge

Another very affordable coastal area of Perth where the median house price is under $400,000.
Properties in these nearby suburbs have recorded high levels of capital growth over the last decade, with an annual price growth rate of over 13.1 per cent. The homes are generally on big blocks and first-home buyers should benefit from rising land values because of the scarcity of building blocks in this area of Perth.

James Limnios, chief executive, Limnios Property Group

East Perth

ASTUTE first-home buyers can buy onebedroom apartments in East Perth for under $400,000. After significant private and government investment, East Perth is now becoming a very desirable area in which to live. Social infrastructure, such as shopping, is also improving. The median price of a house in East Perth has increased 16.6 per cent on average each year over the past 10 years.
Northbridge

An inner-city area of Perth that will directly benefit from the massive new investment planned after the sinking of the railway line, which is now finally a reality after more than 40 years in the planning. There is still a large selection of two-bedroom, two-bathroom apartments in Northbridge for couples looking for larger, inner-city homes.

Tuart Hill

One of the more affordable near-city suburbs, which offers easy access to the city centre.
There is a good selection of established villas and townhouses in Tuart Hill for under $500,000. You can even secure a smaller villa for about $300,000. The suburb has good public transport links to the city centre and a high level of social infrastructure, such as schools and shopping. The
demand for homes in Tuart Hill is underlined by the fact that the Limnios Property Group is now achieving record prices for homes in the area.

Mt Lawley

One of the premier suburbs in Perth, which still has very affordable options for first-home buyers. Older-style two-bedroom, onebathroom apartments can be bought for about $300,000. With
cosmetic renovations, the value of these olderstyle apartments can be substantially enhanced. The median price of a house in Mt Lawley has increased by about 12 per cent on average each year over the last decade.

Maylands

A near-city suburb that also has the benefits of a pubic railway system, which residents can use to access the city centre. Maylands is also growing in popularity because of its riverside location and the growing focus on ‘‘lifestyle’’. There is a big selection of apartments and villas in Maylands
for under $500,000.

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