Tuesday, July 28, 2009

Perth's best suburbs experts choose

Taken from www.news.com.au/perthnow is a list of expert tips for buying a home in Perth:


Alan Hancock, chairman, Ausnet Real Estate Group

Greenfields

ONE of the more affordable suburbs in Mandurah where you can still buy older homes for under
$300,000. The suburb is near the Mandurah District Hospital. Rents in the area are also high, which means that at a later stage you can rent out the home if you
decide to upgrade to another property.

Medina

One of the cheapest places in Perth to buy a house. There is a growing selection of established threebedroom, onebathroom and twobedroom, onebathroom houses in the suburb for about
$250,000. Over the long term, property values in Medina will benefit from the major investment
planned for the Kwinana town centre.

Thornlie

An undervalued suburb next to the more expensive Canning Vale. It has a railway station providing easy access to the city centre and a high level of social infrastructure, such as schools and shops. You can buy a three-by-one house in Thornlie for under $350,000, and a four-by-one house for
under $400,000.
Midland
An established area that has a high level of social infrastructure, including a railway station. It is
undergoing a major transformation, which will make it a more attractive property market over the
coming decade. You can purchase a well-located villa or duplex in Midland for under $300,000.

Ellenbrook

A ‘‘lifestyle’’ suburb in the Swan Valley, which is growing in popularity. It also has improving social
infrastructure. Newer family homes can be bought in Ellenbrook for under $400,000. When you add up the total costs of building a new home, buying a near-new, established property in a well-designed suburb such as Ellenbrook can prove a more attractive option.

Jay Wood, director, pfr.com.au
Victoria Park/East Victoria Park

INNER-CITY areas that will soon rival Subiaco for social infrastructure, such as restaurants and cafes. Older apartments and villas can be bought for under $450,000. The suburbs have
historically delivered high rates of capital growth and can be an important stepping stone for first-home buyers wanting to climb the property ladder.

Cloverdale

An affordable near-city suburb where the median house price is just $400,000. In the past decade, the median price of a house in Cloverdale has increased on average by 13.8 per cent. The suburb has a good selection of older homes that offer redevelopment opportunities. It has a high level of social infrastructure, such as shopping, schools and good transport links to the CBD.

St James

A near-city Perth suburb where older houses on large blocks can still be bought at prices near their land value. The median price of a home in St James is just $420,000. Over the past decade, the annual price of a home in St James has increased on average by 12 per cent. It has a good level of social infrastructure, such as shops and schools, and access to the city centre.

Wembley

One of the most affordable areas in which to buy a property in the near-city area. First-home buyers on a limited budget can still purchase older-style apartments in Wembley for under
$300,000. This suburb can offer a useful stepping stone for first-home buyers into neighbouring
Subiaco. Property owners in Wembley have enjoyed annual capital growth rates of more than 12 per cent on average each year in the last decade.

Palymra

An undervalued suburb in the Fremantle area with property available for under $500,000. The
suburb is near Fremantle and has easy access to the CBD. Many first home buyers have bought in Palymra and later upgraded to neighbouring Bicton and East Fremantle. Over the past 10
years, the annual capital growth for properties in Palymra has been an impressive 12.4 per
cent.

5 comments:

drew said...

Thanks for sharing your knowledge with us.. i am new to WA and being first home buyer i am bit reluctant to buy house in Coverdale.... as you have mentioned in blog that good opportunity to refurbish the old house... why is it less expensive than other suburbs,.. do you know about the crime rate or people living over there.. appreciate your help..

Home in Perth said...

I think the area around Cloverdale is not the best. That area is a little rough.. the stats are a little dated but you can have a look at this post http://homeinperth.blogspot.com/2009/01/how-bad-is-your-perth-suburb.html

Anonymous said...

Agree with 'home in Perth'. I lived in Cloverdale for 12 months. While there are some appealing homes, the undesirable demographic and aircraft noise make it a risky choice. I was subject to two thefts, once into a secure home (when We were home) and once into vehicle on the driveway for goods.

Anonymous said...

I find this article quite irresponsible in content. @ Drew, I can assure you your reluctance to buy in Cloverdale is well justified. There are a great many break-ins in Cloverdale, Victoria Park, and especially St. James. In St. James over the span of eight months we were robbed once, and went through at least two attempted break-ins- one when we were at home. Sure, there are a lot of old homes for sale. There is also the highest saturation of Homeswest housing in Perth (in Vic Park, St. James, and Bentley), and believe me living next door to one of these homes is no bargain. I would highly recommend the Palmyra/Melville suburbs, which is where we moved, and our quality of life is about 1,000% better!

Anonymous said...

Cloverdale was obviously mentioned for investment potential. It is a pretty dodgy area but the Rivervale/Cloverdale area do look like good investment areas due to low prices, distance from city and large block sizes.

There is a lot of development happening in these areas which will help push the prices up. The Homes West housing is being sold off in these areas which is slowly improving the demographic.

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