Bassendean is in the bottom 30% in WA when comparing median price capital growth over the last year. Bassendean gave property investors a disappointing capital gain figure when compared to the rest of the state, with -9.82%.
Bassendean,6054 has offered an average of -9.82% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -7.49% to buyers in Bassendean at the moment, which is less than average for the rest of WA.
On average over the past year, suburb has had 14.92 sales per month, which equates to 179 per year.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 2.30%, investors should hope to achieve an overall return of 3.71%
WA has seen average median house prices change by -4.11% which means that Bassendean, 6054 has not done well for property investors by showing a capital gain of 1.68% over the last year
If we look at median property appreciation over just the last three months, Bassendean has given property investors a paper return of -0.45%. This puts Suburb as 46 on a list of fastest fasting appreciating suburbs in WA
The most recent median price for Bassendean is $333500, with sellers offering an average of -9.36% off the asking price.
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.