It really is no secret that Perth’s housing market is way behind Sydney and Melbourne. But whilst many choose to focus on the negatives, first time buyers see this as an opportunity to actually get on the property ladder. With impossible median prices across the East Coast, first timers are struggling to get a look in, whereas Perth and the West Coast offers a plethora of opportunities to make some long term investments.
So with that in mind, let’s take a look at the top suburbs in Perth for 2020.
Over the past year, Kewdale has reportedly seen median prices of $437,500 for houses and $320,000 for units. According to real estate gurus, houses in Kewdale are generally rented out at $320 per week with a rental yield of 3.8%. Meanwhile units rented out at $420 per week have a rental yield of 5.2%.
With a mix of families and young professionals as well as retirees and students, this wonderful community has a little something for everyone. For nature lovers, there are plenty of parks and reserves to explore including Tomato Lake, Willow Lake Park, Wicca Reserve and Cottage and Nance Parks.
There are plenty of established dwellings as well as some projects newly completed by property developers in Perth. So whether you’re looking for a new build or an established home, there’s something for everyone.
Riverdale is a popular choice for both investment and living. With median prices ranging between $520,000 for houses and $283,000 for units last year, properties can offer annual rental yields of 3.5% for houses and 6.2% for units.
Only 5km from the CBD, this is a great destination for young professionals as well as those looking to rent out properties to CBD visitors and workers. And for those who are looking for state of the art homes, there are some recently completed new build projects in the area.
With a higher median house price of $681,500 recorded last year, this suburb is generally occupied by older couples and families. It does however still offer decent rental yields with houses rented out at $475 per week (giving an annual rental yield of 3.6%) and units going for $390 per week (yielding 3.1% annually).
It’s a little further afield from the Perth CBD (16km to be exact) but what it lacks in proximity to the city is makes up for in beautiful parks and clean streets. It offers great schools and childcare and comes with easy access to the freeway for city visits. If you’re looking to invest in a family centric future, this could well be the suburb for you.
As with both other suburbs, there is a mix of established dwellings as well as exciting new development projects in the area. So whether you want a state of the art new-build or are keen to explore and renovate an established dwelling, you’ll find something in Duncraig.
So there you have it. Wether you’re looking to buy your first live-in home, need to get on the property ladder or want to invest in a long term home to raise your family, all three suburbs have something to offer.