OP­POR­TU­NI­TIES FOR AS­TUTE IN HOT SPOTS

Southern Gazette (South Perth) - - RESIDENTIAL -

PERTH’S most af­ford­able sub­urbs within a 20km ra­dius of the CBD with high growth po­ten­tial have been high­lighted in a new re­port.

The PRD­na­tion­wide Perth Hotspots Sec­ond Half 2016 re­port sin­gled out River­ton, South Guild­ford and Beck­en­ham as the ar­eas with the most af­ford­able houses.

Balga, May­lands and Gos­nells were iden­ti­fied as the ar­eas of­fer­ing the best op­por­tu­ni­ties in the units mar­ket.

In de­ter­min­ing the hot spots, the re­port ex­am­ined a broad range of in­vest­ment and growth fac­tors, in­clud­ing short and mid-term me­dian price growth, on­line in­ter­est, vol­ume of sales, me­dian rental price, va­cancy rates and rental yields.

Planned com­mer­cial, res­i­den­tial, in­fra­struc­ture and in­dus­trial projects in the area were also con­sid­ered.

PRD­na­tion­wide chair­man and man­ag­ing di­rec­tor Tony Brasier said the fun­da­men­tals in the six sub­urbs were strong.

“The amount of de­vel­op­ment ac­tiv­ity tak­ing place in these sub­urbs and sur­round­ing ar­eas is very en­cour­ag­ing,” he said.

“New roads and in­fra­struc­ture, shop­ping cen­tres and com­mer­cial precincts are re­li­able in­di­ca­tors of fu­ture price growth. There are some great op­por­tu­ni­ties avail­able in these ar­eas for in­vestors and as­tute buy­ers look­ing for growth po­ten­tial.”

The re­port also said the Perth hous­ing mar­ket had seen some positive signs in a se­lect few sub­urbs de­spite a gen­eral weak­en­ing dur­ing 2016.

South Guild­ford, Man­ning and River­ton had me­dian house price rises, while Ap­ple­cross, Joon­danna and Bassendean achieved growth in their me­dian unit prices from 2015 to 2016.

“This sit­u­a­tion has pro­vided firsthome buy­ers with at­trac­tive op­por­tu­ni­ties to en­ter the mar­ket, which has re­sulted in WA record­ing the high­est pro­por­tion of first-home buy­ers in Aus­tralia,” Mr Brasier said.

“For the positive mo­men­tum to be main­tained and to ex­pand into the wider Perth mar­ket­place, re­newed con­fi­dence and growth in the min­ing sec­tor and broader econ­omy is needed.”

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