If you compare the increase in value of investment property in East Perth, 6004 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -9.36%.
When looking at the potential capital gains offered to property investors over the last 3 years, East Perth comes in at number 31th in WA.
Often selling an investment property can take time, and in East Perth the average time real estate has been on the market is 101.6 days.
Using the current median advertised rental of $650 and the average annual increase in value of a median property of 0.80%, investors should hope to achieve an overall return of 3.10%
Property value increases in East Perth have tracked close to the WA average of 4.62% over the last 12 months.
While East Perth,6004 ranked number 48th in WA for increase in median house value (annualised) increase, it is ranked 29th over the last 5 years.
Property buyers and investors in East Perth 6004 should be seeing an average reduction in asking price of around -5.35% . This means that East Perth is holding prices well when compared to other suburbs in WA.
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Sitting pretty by the Swan River, East Perth is a picturesque inner city suburb located just 2km from the Perth CBD.
A fast-growing suburb dominated by units and apartments, it is also known as a mecca for young and rich professionals who enjoy the convenience of being close to the city.
The Claisebrook Cove area is a major attraction in the suburb, thanks to its excellent recreational offering.
It’s an exclusive residential area with some houses fetching multi-million dollars.
However, the unit market remains affordable at $567,500.
While this price tag may seem hefty, East Perth’s track record of solid long-term growth means its resale potential is strong.
However, recently, there appear to be a large number of vacant properties according to Real Estate Investar, which put the suburb’s vacancy rate at a hefty 8%.
Terrace Road, Hay Street and Hill Street are among the most popular streets in the suburb and where many residents prefer to live.
Top amenities: East Perth is renowned for its many cafes and restaurants. Outdoor activities are plenty and very popular on the river. You can join aYoga or Pilates group, or a Fitness Boot Camp to stay in shape. There are plenty of schools, shops and supermarkets close by, making East Perth a great place to live for all ages including families.
Local industry and business: There is a huge diversity of business in East Perth, mostly small businesses such as florists, fashion retailers, beauty salons, coffee shops, art galleries, real estate agents and accountants. Most of Perth’s largest employers are in the heart of the city, just a few kilometres away, with most of the major mining companies, accounting and law firms, banks and retail giants based there. There is no major manufacturing industry in East Perth or immediate surrounds, which means no pollution and noise, although with freeway access so close, these industrial hubs are never far away, so employment opportunities are endless.
Public transport: Public transport here is great. Free cat bus services run daily every 20 minutes throughout Perth, taking you to your favourite East Perth locations, or to one of two train stations nearby, which can get you just about anywhere up and down the coast.
Main arteries: Peth city is pretty much at your front door. A five-minute cat bus ride or drive will take you right to the centre. Close access to freeways means the popular city beach and Cottesloe beach are only a 15-minute drive, as well as quick access to surrounding suburbs.