Investment property in Bassendean has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.53%
When looking at the potential capital gains offered to property investors over the last 3 years, Bassendean comes in at number 191th in WA.
LACK OF BUYER INTEREST may well be the reason that Bassendean is offering property investors an average of -8.21. This rate of discount on properties puts Suburb at number 251th in terms of most discounted suburbs in WA
Advertised rents are around the $370 mark per week – giving a return of 3.77% based on the median price in Suburb
Bassendean has had a pretty good year for property investment returns compared to the rest of WA, giving investors a capital gain of 2.89% to date .
Bassendean,6054 was ranked 413 in Australia by increase in median property value over the quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.20% offered to property buyers. Sellers in Bassendean itself are offering an average vendor discount of -10.37% to real estate investors.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 1.39%, investors should hope to achieve an overall return of 5.07%
Investors looking to buy at the bottom should probably keep an eye on Perth’s Bassendean.Full summary
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Investors looking to buy at the bottom should probably keep an eye on Perth’s Bassendean.
Around a 20-minute drive northeast of the Perth CBD, units in the suburb already have a relatively affordable median price of $328,000, and from market conditions it looks like that will come down further.
According to CoreLogic RP Data, the median price has fallen 17% in the last 12 months and is down 22% over the last three years.
Prices may not currently be performing, but the suburb does have some qualities that may make it one to keep track of.
Nowhere in Bassendean is too far from public transport, with three train stations in the suburb.
While there are few schools here, neighbouring suburbs offer a range of public and private options, and there is a major shopping centre in nearby Morley.
Bassendean sits on the banks of Swan River, but those who buy for water views may have to put up with aircraft noise due to its proximity to Perth airport.