Property value increases in Spearwood have tracked just lower than the WA average of -5.06% over the last 12 months.
Spearwood,6163 was ranked 3115 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Spearwood should be aiming for at least -8.83% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Spearwood the average time real estate has been on the market is 106.98 days.
With the median price for a house in Spearwood being $490000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 4.03%
Property investors who have had real estate in Spearwood, 6163 should be ok with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.83%
While Spearwood,6163 ranked number 41th in WA for increase in median house value (annualised) increase, it is ranked 85th over the last 5 years.
The WA suburb of Spearwood, 6163 is in the Cockburn local government area.
Spearwood has a great feel to it. It has a large European community which flows on from Fremantle. Spearwood is also close to Port Coogee Marina and it is quite affordable considering how close it is to Fremantle and the local coast line. There is plenty of opportunity in the older part of Spearwood for investors as the local government has re-zoned the area and has allowed for subdivisions. Great rental returns also.Full summary
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Selling points: Spearwood has a great feel to it. It has a large European community which flows on from Fremantle. Spearwood is also close to Port Coogee Marina and it is quite affordable considering how close it is to Fremantle and the local coast line. There is plenty of opportunity in the older part of Spearwood for investors as the local government has re-zoned the area and has allowed for subdivisions. Great rental returns also.
Most sought after properties: I would say the 3x1 old homes on subdividable large blocks would be in very high demand. Overpriced properties do take longer to sell but eventually they do sell. Homes are starting to move faster in this area.
Most common properties: It has so many types of homes from 3x1 on large blocks in the older area to large two story homes on the top of Spearwood heights. There are also new developments west of Rockingham Road.
Top amenities: Great primary schools. Phoenix shopping centre, local banks, Stargate Shopping Complex. Close to continental deli’s, plenty of parks and ovals and is close to Coogee beach and the new Marina which has many cafes and specialty shops.
Recent changes: Spearwood has had new estates developed west of Rockingham Road. There are more new subdivisions getting done now (more land for sale). The older parts of Spearwood have had the sewerage lines connected and new zonings in parts of Spearwood have been changed for future development.
Best streets: Buy close to Coogee beach West of Rockingham Road. Port Coogee is walking distance from that part of Spearwood to the beach and has the best of both worlds. It is affordable and still close to the new Marina. For an investor the older parts of Spearwood that have been re-zoned and have large blocks. Spearwood Heights has great ocean views and is still quite close to everything you need. You can get bargains at the moment as the area is still very affordable....
Public transport: There are a number of bus routes including the 881 which takes you to Garden City Shopping Centre and then to the Perth CBD. There are also buses on Rockingham Road that take you to Fremantle and the local train station.
Main arteries: The main road has extended Spearwood Avenue all the way through to Cockburn Road which gets you to Port Coogee Marina. Closer to Fremantle and South Fremantle.