There is no secret that the Perth property market has taken a hit in the last year, but for the astute investor all hope is not lost. There are still many pockets of Perth providing great investment opportunities.
Having shown growth throughout 2014, the outlook for several suburbs across Perth continues to look promising. Here’s our ‘Top 5’ suburb picks for 2015 and a little about why they may be a worthwhile investment.
Ranked 3rd in the top 10 highest growing suburbs of Perth in 2014, Joondanna is an excellent investment opportunity, having given investors a capital gain of an unbelievable 18.34%. The suburb has fared very well against the 4.37% for WA. Current residents and home owners of Joondanna thinking of selling soon are also in for some good news with Joondanna experiencing a very steady nature in median house prices throughout 2014, along with a high market demand for properties in the suburb. Figures show that current properties on the market are experiencing an average of 74 visits per property, well above the average of 46. With the annual capital growth at 10.28%, along with previous figures there is no doubt Joondanna is a hot suburb for investors right now.
Both Woodvale’s median house price and median rental prices is well above the city’s average, and has remained very steady throughout the year with virtually no change at all. As Woodvale’s residents are within the catchment area of the highly sought-after Woodvale Secondary College, not to mention various well regarded Primary Schools within the area, properties in this suburb are appealing to young families. Woodvale is currently growing at rate of 8.49% annually, and providing an annual capital growth of 8.49% furthermore proving why this suburb is providing investors with great opportunities. Woodvale is currently ranked 150 on a list of fastest appreciating suburbs in WA according to REIWA.
The current slow-down has not been felt in the suburb of Leeming with median house prices remaining steady recording little to no change throughout 2014. The median house price in Leeming is currently $745,000, with a nearly $40,000 increase from last year. Leeming residents thinking of selling will be happy to learn that Leeming fairs very well against the average demand market. Current figures show a capital gain of 8.97% for those investing in the suburb.
According to the top 10 highest growth suburbs of 2014 Eden Hill came in at number one! Median house prices have experienced an increase in 2014, remaining steady during the months of September 2014 and October 2014. The median house price in Eden Hill currently comes in at $497,000. Good news for those with investments or thinking of investing in this suburb in the future as Eden Hill has offered an average of 17.30% return per annum on house prices.
Having ranked 6th in WA’s highest growing suburbs of 2014, property investors should be pleased with Wembley’s performance, seeing median house prices increase in value by an excellent 20.87%. Other factors making this suburb one to consider for investors include its 10.21% annual capital growth, along with its high market demand of an average 72 visits for properties on the market.