Bassendean has had a very poor year for property investment returns compared to the rest of WA, giving investors a capital gain of -11.18% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bassendean has increased when compared to the 5 year average annual rate.
Property buyers and investors in Bassendean 6054 should be seeing an average reduction in asking price of around -6.82% . This means that Bassendean is holding prices well when compared to other suburbs in WA.
Property investors should expect to get $375 weekly from the median priced house in this suburb.
Property value increases in Bassendean have tracked just higher than the WA average of -3.64% over the last 12 months.
Across a shorter period, Bassendean, 6054 has seen a median price increase of 1.06% over the last quarter.
Property buyers and investors in Bassendean 6054 should be seeing an average reduction in asking price of around -10.74% . This means that Bassendean is holding prices well when compared to other suburbs in WA.
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.