There is no secret that the Perth property market has taken a hit in the last year with 2015 promising to be a more conservative market with subdued price growth. With that being said, if you are in the market to buy a property this year, all hope is not lost.
The key to a successful purchase in 2015 will be to ensure that you take part in some extensive research and choose an area that can offer long term capital growth. A recent study conducted by NAB has taken some of the guesswork out for you, outlining ‘hotspot’ areas around Perth, potentially offering long term gains. The survey was completed by approximately 300 expert panellists and could serve as a guideline for your next property move. Here are the top picks!
Situated 42 kilometres away from Perth CBD, the semi-rural suburb of Baldivis has experienced rapid growth in recent years, making it one of the most sought after property locations south of the river. Located in the LGA of Rockingham, a population of over 15,800 people live within its 43 square kilometre land area.
While the area boasts a range of local amenities such as a community shopping centre, medical facilities, gyms, cafes and a local pub, the area is also home to the Baldivis Nature Reserve, Baldivis Recreation Centre and Bonney’s WA Water Ski Park. Furthermore, the area has three local schools; Baldivis Primary School, Settlers Primary School and Tranby College.
With a median house price at $470,000, Baldivis is sitting $70,000 below the Perth metro average. The area also claims a 3.3% annual growth rate and averages 72 days on the market.
Located a close six kilometres east of Perth CBD, Belmont covers a span of five square kilometres. With over 6200 people calling the area home, it is no doubt due to the range of local amenities residents enjoy. Close to both commercial facilities and the major city centre, those enjoying a suburban lifestyle in Belmont have the best of both worlds.
The area claims a thriving local shopping precinct, restaurants, a tavern and a cinema. Belmont Leisure Centre is also located close by, which is home to a range of recreational facilities including pools, a gym and plenty of sporting courts. Local schools include Belmont P.S, Belmont City College and Belmont S.H.S, whilst a further three secondary schools are located nearby.
The area’s median house price is $575,000 and with 10.0% annual growth, the area seems to be a great investment opportunity. The average time on the market comes in at 37 days.
Positioned in the local government of Canning, Bentley can be found only nine kilometres from the Perth CBD. Boasting a significant population of 12,032 people, the area is home to a range of multicultural residents.
A range of local schools are available including, Al-Hidayah Islamic School, Baptist Theological College, Clontarf Aboriginal College, Millen P.S, Betley P.S, Canning College, Bentley TAFE Campus and Curtin University. A further four secondary colleges are located in nearby areas.
The area is a hub of activity with an array of different amenities on hand due to the university and TAFE campuses in close proximity. Bentley is home to The Bentley Centre and the giant Westfield Carousel shopping centres which offer residents an array of different retail outlets, cafes, and restaurants to choose from.
Bentley has enjoyed 14.3% annual growth over the last year and with a median house price of $566,500, the area’s median price is $25,000 above the city’s average.
Home to more than 20,000 residents, the suburb of Kelmscott covers eight square kilometres. Located within the LGA of Armadale, Kelmscott is a quiet suburban area that is nestled amongst a number of parks and reserves.
The Kelmscott Town Centre is the main commercial sector with the Kelmscott Plaza, Kelmscott Village Shopping Centre and Stargate Kelmscott Shopping Centre all located within the area. The area also has a train station, as well as four local primary schools and one local secondary school.
With the median house price for the area sitting at $365,000, homes are sitting on the market for 59 days on average.
Situated along WA’s coastline in the heart of the Peel region, Mandurah is a vibrant residential and commercial area. Once a small fishing village, Mandurah is now a thriving city and a popular location for tourists. Approximately 70 kilometres from Perth CBD, the area offers family homes, modern apartments and deluxe mansions with canal views.
Mandurah is home to major shopping centres, quality restaurants, retail outlets and popular community events such as the Crab Festival and Boat Show. The area also features the Mandurah Train Station which provides direct transport to Perth CBD, and four local schools, with both primary and secondary schooling available.
The median house price is $350,000 and the average time on the market 85 days. The population of 58,575 have enjoyed 6.5% annual growth over the last year.
Perth, the capital of WA is a young, evolving city which is currently undergoing major developments to raise the city’s cultural flair including the recently established Perth Arena and the soon to be established Elizabeth Quay.
With plenty of retail shopping facilities available including Carillion City, Forrest Chase, Hay Street and Murray Street Malls, there is a range of options available to the community. Getting around is easy too with an abundance of different options available including trains, bus services and Cat bus services. The area has three local schools with a six located closely nearby.
With the median house price at $810,000 the area of Perth is enjoying house prices $362,500 over the city’s median house price. With an annual growth of 19.6% over the last year, residents of Perth have been enjoying high demand for their area.
Subiaco is situated a close four kilometres west from Perth City, and with a well-rounded mix of residential, commercial and entertainment sectors, the area is thriving. Covering a seven square kilometre land area, Subiaco is home to over 13,000 people. The area is strongly known for its culture, heritage and rich entertainment presence.
Subiaco is home to The Regal Theatre, Patersons Stadium and an array of fine dining restaurants and quirky cafes. Other features include the Subiaco Train Station, Station Street Markets and Lords Recreation Centre. Home to a local primary and secondary school, Subiaco is also close to six other schools in surrounding areas.
The area claims a $1,212,000 median house price average and has recently experienced 5.8% annual growth over the past year.