Kingsley is roughly 20km from the centre of Perth, but it is something of a centre of its own. Home to five primary schools, a high school, four churches, two major shopping complexes and a number of historic sports clubs; it is a Western Australian suburb to keep an eye on.
Only 12% of the suburb’s households are rented, the majority of other residents being owner-occupiers typified by young families and couples who are first home buyers. Despite this, yields are reasonable at just over 5%, and the weekly average rent of $465 is an inch higher than a lot of other suburbs in the area.
The suburb’s popularity with young families probably holds the key to its future capital growth. March RP Data figures show that properties currently require just 44 days on the market to sell, a good indication that this is an area buyers want to get into.
At the same time, DSR Score indicates that only 0.12% of the total properties in the suburb were up for sale over March – a minimal amount. This suggests that, while many buyers like Kingsley, they’ll have some trouble finding available properties there, and will need to start paying a premium for the privilege. The result could be that prices rise rapidly in the immediate future.
The rental market is also short on the supply side, with vacancies at an ultra-tight 0.48%. Considering Kingsley’s strong appeal for first home buyers, it’s conceivable that a lot of current tenants may go into the suburb’s property market soon, as rising rents and a shortage of accommodation coerce them into becoming homeowners. This may also result in rising property prices.
When speaking of the suburb, it’s best to make the distinction between the western and eastern half, which have somewhat different characters. They are divided by the picturesque Lake Goollelal, which forms a natural barrier. The eastern half is a little noisier than the west and has less houses.