East Perth is in the bottom 40% in WA when comparing median price capital growth over the last year. East Perth gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.52%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in East Perth has increased when compared to the 5 year average annual rate.
East Perth is 361th on a list of best yielding suburbs for rents in WA with a 2.97% return
Over the last year, property investments in East Perth, 6004 have given investors a capital gain of -10.10%. This compares badly with the -3.39% for WA as a whole.
Comparing East Perth,6004 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
LACK OF BUYER INTEREST may well be the reason that East Perth is offering property investors an average of -7.52. This rate of discount on properties puts Suburb at number 26th in terms of most discounted suburbs in WA
Often selling an investment property can take time, and in East Perth the average time real estate has been on the market is 110.92 days.
Situated 1.59km from the CBD, East Perth is one of Perth localities in the postcode 6004.
Sitting pretty by the Swan River, East Perth is a picturesque inner city suburb located just 2km from the Perth CBD.Full summary
Information supplied by:
Sitting pretty by the Swan River, East Perth is a picturesque inner city suburb located just 2km from the Perth CBD.
A fast-growing suburb dominated by units and apartments, it is also known as a mecca for young and rich professionals who enjoy the convenience of being close to the city.
The Claisebrook Cove area is a major attraction in the suburb, thanks to its excellent recreational offering.
It’s an exclusive residential area with some houses fetching multi-million dollars.
However, the unit market remains affordable at $567,500.
While this price tag may seem hefty, East Perth’s track record of solid long-term growth means its resale potential is strong.
However, recently, there appear to be a large number of vacant properties according to Real Estate Investar, which put the suburb’s vacancy rate at a hefty 8%.
Terrace Road, Hay Street and Hill Street are among the most popular streets in the suburb and where many residents prefer to live.
Top amenities: East Perth is renowned for its many cafes and restaurants. Outdoor activities are plenty and very popular on the river. You can join aYoga or Pilates group, or a Fitness Boot Camp to stay in shape. There are plenty of schools, shops and supermarkets close by, making East Perth a great place to live for all ages including families.
Local industry and business: There is a huge diversity of business in East Perth, mostly small businesses such as florists, fashion retailers, beauty salons, coffee shops, art galleries, real estate agents and accountants. Most of Perth’s largest employers are in the heart of the city, just a few kilometres away, with most of the major mining companies, accounting and law firms, banks and retail giants based there. There is no major manufacturing industry in East Perth or immediate surrounds, which means no pollution and noise, although with freeway access so close, these industrial hubs are never far away, so employment opportunities are endless.
Public transport: Public transport here is great. Free cat bus services run daily every 20 minutes throughout Perth, taking you to your favourite East Perth locations, or to one of two train stations nearby, which can get you just about anywhere up and down the coast.
Main arteries: Peth city is pretty much at your front door. A five-minute cat bus ride or drive will take you right to the centre. Close access to freeways means the popular city beach and Cottesloe beach are only a 15-minute drive, as well as quick access to surrounding suburbs.Close