Suburb Profile Report for Belmont WA (6104)

Belmont House: Median price $444,500, Annual capital growth 2.08%, Number of sales 88, Weekly median advertised rent $360

Belmont Unit: Median price $347,500, Annual capital growth 1.54%, Number of sales 38, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Belmont, 6104 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -10.20%.

Belmont,6104 was ranked 2936 in Australia by increase in median property value over the quarter.

State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.22% offered to property buyers. Sellers in Belmont itself are offering an average vendor discount of -8.21% to real estate investors.

Residents and property investors in Belmont have been waiting around 108.09 days to sell a property.

Advertised rents are around the $360 mark per week – giving a return of 4.21% based on the median price in Suburb

At number 1601th in the list of Australian suburbs ordered by increase in median house value over the last year, Belmont, 6104 is in the BOTTOM 10% with a property value increase of -12.91% recorded in median house prices.

The five-year average increase in median property values for Belmont,6104 has given property investors a potential capital gain of 7.75% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Belmont is offering property investors an average of -8.71. This rate of discount on properties puts Suburb at number 51th in terms of most discounted suburbs in WA

Situated 7.17km from the CBD, Belmont is one of Belmont localities in the postcode 6104.

Greg Orbinski Information supplied by:

Greg Orbinski
Porter Matthews Metro

M 0417936524
O

W portermatthewsmetro.com.au
E greg@portermatthewsmetro.com.au
Just east of the Perth CBD, slap-bang next to the airport, the suburb of Belmont is surprisingly affordable.
Belmont has a solid property performance history, with good yields and growth potential on offer for the savvy investor.
The suburb is abuzz with nearby infrastructure projects, including the Great Eastern Highway upgrade, Perth Airport upgrade and a new football stadium just over the way at Burswood.
Belmont boasts major shopping facilities, good quality schooling, two racecourses and hectare after hectare of parkland for lovers of the outdoors.Full summary

Selling points: Belmont is a very affordable suburb yet is only 6 kilometres from the CBD, providing investors with a solid rental return and capital return over time. Belmont has outperformed the total Perth market for the past 10 years and should continue to do the same, due to many infrastructure works under way, such as the Great Eastern Highway upgrade, Perth Airport upgrade and planned football stadium at nearby Burswood. Belmont has had zoning changes last year, which resulted in more development activity, particularly close to the main shopping district at Belmont forum. All amenities are top notch, with schools, parks, shopping and others.

Most sought after properties: Three and four-bed houses less than 10 years old are getting the most demand, particularly from first home buyers. There is underlying demand for any property with potential to subdivide as well. Most demand in a general sense is in the $400k to $550k range at this time.

Most common properties: We actually have the entire range here in Belmont, but the area has been here a long time and there are plenty of older style homes on good size blocks built from 1950 to 1980.

Top amenities: We have a major shopping centre (Belmont Forum) and Belmont Oasis leisure centre and park, Faulkner Park, Garvey Park, Tomato Lake, youth and family centre, skate park and public library. Belmont has 309 hectares of parks as well as good schools, such as Belmont Primary, Notre Dame catholic school and Belmont S.H.S. We are also very close to the airport and have the historic Ascot Park racecourse.

Local industry and business: Many companies base their offices in Belmont due to its proximity to the CBD and airport. These include airport and freight-related businesses.

Recent changes: In the last 10 years we have seen major development subdivisions. Ascot Waters is now completed, while modern apartments continue to be built along the Great Eastern Highway in the Urban Springs development and the award winning Belgravia Estate complex, which features high quality homes. With many subdividable blocks we are seeing older properties being developed to create two, three and four-unit developments.

Best streets: For the investor, in my opinion the best places to buy will be where zoning is R20/40, which depending on block size will enable subdivision to three or four dwellings. Also, around the Belmont Forum centre where zonings have changed to R50/100. These properties will always provide solid capital growth.

Public transport: Public transport is very good and will be better with the major upgrade of the Great Eastern Highway.

Main arteries: This is one of the main benefits in Belmont. Via the Farmer Freeway, you can access the main freeways north and south in just minutes. You can easily drive to the CBD in 15 minutes. Burswood Resort and ‘future’ football stadium will be 10 minutes at most.

Close
Metrics i HOUSE UNIT
$444,500 $347,500
-0.11% -4.79%
-10.20% -12.91%
2.08% 1.54%
$360 $300
88 38
4.21% 4.49%
108.09 142.33

Source: CoreLogic

DSR Score for property investment : Below average (U), Balanced (H)
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Demographics
Total population 6264
Median household income ($/weekly) 1197
Median age of persons 34
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 572 9.1
    25-34 years 1298 20.7
    35-44 years 887 14.2
    45-54 years 736 11.8
    55-64 years 633 10.1
    Others 2137 34.1
    Age Group
    Census Count Percent(%)
    Not Married 2272 49.7
    Registered Married 1783 39.0
    Defacto Relationship 514 11.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3385 59.6
    Indonesia 202 3.6
    Papua New Guinea 271 4.8
    United Kingdom 413 7.3
    Other 436 7.7
    Others 971 17.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 195 3.6
    Christianity 3439 63.1
    Hinduism 106 1.9
    Islam 248 4.6
    No Religion 1371 25.2
    Others 90 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 203 9.5
    $400-$599 211 9.9
    $600-$799 180 8.5
    $1,500-$1,999 254 11.9
    $2,500-$2,999 214 10.1
    Others 1064 50.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2101 43.7
    Not in the labour force 1580 32.8
    Employed, worked part-time 768 16.0
    Employed, away from work 201 4.2
    Unemployed, looking for work 163 3.4
    Person Characteristics
  • Census Count Percent(%)
    Professionals 544 17.7
    Technicians & trades workers 526 17.1
    Community & personal service workers 302 9.8
    Clerical & administrative workers 476 15.5
    Machinery operators & drivers 316 10.3
    Others 905 29.5
    Occupation
    Census Count Percent(%)
    Pre-school 64 5.9
    Infants/Primary 353 32.7
    Secondary 225 20.8
    Technical or Further Educational Institution 151 14.0
    University or other Tertiary Institutions 239 22.1
    Others 48 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4135 74.4
    Semi-detached, row or terrace house, townhouse 1359 24.5
    Flat, unit or apartment 62 1.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1013 43.1
    Being purchased 719 30.6
    Fully owned 607 25.8
    Other tenure type 11 0.5
    Tenure Type
Census 2011, ABS
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