Suburb Profile Report for West Perth WA (6005)

West Perth House: Median price $588,500, Annual capital growth 2.09%, Number of sales 16, Weekly median advertised rent $450

West Perth Unit: Median price $525,000, Annual capital growth 3.90%, Number of sales 129, Weekly median advertised rent $450

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in West Perth have tracked lower than the WA average of -5.25% over the last 12 months.

Across a shorter period, West Perth, 6005 has seen a median price increase of -11.90% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that West Perth is offering property investors an average of -8.22. This rate of discount on properties puts Suburb at number 266th in terms of most discounted suburbs in WA

Advertised rents are around the $450 mark per week – giving a return of 3.98% based on the median price in Suburb

Property investors who have had real estate in West Perth, 6005 should be ok with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.94%

Taking the average capital gain, or increase in median house value, West Perth,6005 has racked up an average of 1.94% over the period. This ranks it number 1322th in the whole country for real estate investors looking at median house price increases.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in West Perth, 6005. Typically our figures indicate that -8.49% is being offered, which puts this WA suburb at 122th most discounted overall in Australia.

Often selling an investment property can take time, and in West Perth the average time real estate has been on the market is 98.65 days.

The WA suburb of West Perth, 6005 is in the Perth local government area.

Darren Horler Information supplied by:

Darren Horler
Hallmark Realty

M 0417 551 557
O 08 6102 3624

W
E
Investors attracted to low vacancy rates and city amenities will benefit from a close look at West Perth. The suburb is charcterised by nice apartments, character houses and older semis, all within close range of comprehensive public transport services, numerous cafes and restaurants, parks and the CBD.
Many of the mining companies run their corporate operations from the West Perth post code, which creates a buzz market for young professionals prepared to pay good yields for their rentals. Full summary

Selling points: Central location, offering the lifestyle benefit of being within walking distance to the city centre, Kings Park, Swan River foreshore, train, shops, café’s, restaurants and work. The area holds strong rental demand from corporates, professionals and fly in/fly out workers; is a low risk investment with low vacancy rates and an ideal location for fully furnished and/or equipped rentals offering good yield.

Most sought after properties: Strongest volume demand would be for one or two bed, one to two bath apartments, preferably with one to two car bays, spacious balconies, storage, good public transport access, views and quiet location. Pools, entertainment areas and Gyms are a bonus, but not a priority. Top end apartments in boutique groups close to Kings Park, with views to the city and/or river are also sought after.

Most common properties: Predominantly one, two and three bed apartments, older semis and houses mainly in the sector north of the freeway, some classic federation homes which are now predominantly used for commercial purposes, a range of commercial office space, some light industrial and mixed use properties.

Top amenities: Kings Park overlooks the city and is ideal for exercising, picnics, dining (Fraser’s Restaurant, cafés) and walks. The Royal Kings Park Tennis Club and Evolution gym are also located within Kings Park. Train and bus access, restaurants, café’s, bars and employment are all economic drivers.

Local industry and business: West Perth is the central hub for small to large mining companies, the financial sector, oil and gas, mining, support and infrastructure companies. Major employers include: The state government, Conocophilips, Cardno, CBH, etc.

Recent changes: Many new apartment complexes have been developed; new commercial office developments; the development of Harbour Town - outlet shopping, increased level of owner occupancy investment. 

Best streets: Traditionally the plum locations have been Bellevue Tce, Cliff Street, Mount Street and Malcolm Street. Arguably the best areas are in the southern sector close to Kings Park, and between Hay Street and Kings Park Road. These offer easy access to Kings Park, are generally quiet on weekends, can offer views to the city and river and close pedestrian access to the city and St Georges Tce.

Public transport: Excellent. City West Train Station takes you directly into Perth Central and through to Fremantle. The Transperth bus service operates to the outer suburbs and the Catbus (which is free) circulates around the city and into West Perth.

Main arteries: Thomas Street takes you north to North Perth, Leederville, Mount Hawthorn; and the Graham Farmer Freeway Tunnel off ramp leads to the eastern suburbs. Thomas and Hay Streets also take you to the suburbs of Crawley, Nedlands, Claremont, Subiaco, Shenton Park and Cottesloe. Cambridge Street takes you west to West Leederville, Wembley, Floreat and City Beach. Wellington and Murray Streets and Kings Park Drive lead directly into the city.

Close
HOUSE UNIT
$588,500 $525,000
-11.90% 0.00%
-19.11% 1.94%
2.09% 3.90%
$450 $450
16 129
3.98% 4.46%
115.92 98.65

Source: CoreLogic

DSR Score for property investment : Balanced (H), Below average (U)
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Demographics
Total population 5167
Median household income ($/weekly) 1698
Median age of persons 32
Median housing loan repayment ($/monthly) 2300
Average household size 1.7
  • Census Count Percent(%)
    20-24 years 573 11.1
    25-34 years 1832 35.5
    35-44 years 701 13.6
    45-54 years 569 11.0
    55-64 years 497 9.6
    Others 995 19.3
    Age Group
    Census Count Percent(%)
    Not Married 2077 54.6
    Registered Married 1085 28.5
    Defacto Relationship 639 16.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2020 46.1
    Indonesia 148 3.4
    Papua New Guinea 177 4.0
    United Kingdom 446 10.2
    Other 441 10.1
    Others 1149 26.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 205 4.9
    Christianity 2176 52.1
    Hinduism 119 2.8
    Islam 124 3.0
    No Religion 1502 36.0
    Others 51 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 161 7.3
    $1,250-$1,499 163 7.4
    $1,500-$1,999 298 13.5
    $2,500-$2,999 452 20.4
    $4,000 or more 161 7.3
    Others 977 44.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2272 55.2
    Not in the labour force 937 22.8
    Employed, worked part-time 597 14.5
    Employed, away from work 157 3.8
    Unemployed, looking for work 151 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 403 13.3
    Professionals 1301 43.0
    Technicians & trades workers 317 10.5
    Community & personal service workers 201 6.6
    Clerical & administrative workers 378 12.5
    Others 429 14.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 88 11.2
    Secondary 62 7.9
    Technical or Further Educational Institution 143 18.2
    University or other Tertiary Institutions 409 52.1
    Other type of educational institution 69 8.8
    Others 14 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 2868 69.4
    Separate house 633 15.3
    Semi-detached, row or terrace house, townhouse 613 14.8
    House or flat attached to a shop, office 21 0.5
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1512 64.2
    Being purchased 518 22.0
    Fully owned 319 13.5
    Other tenure type 6 0.3
    Tenure Type
Census 2011, ABS
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