Investment property in East Perth has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 46.24%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in East Perth has increased when compared to the 5 year average annual rate.
On average over the past year, suburb has had 1.25 sales per month, which equates to 15 per year.
Renters in Suburb are facing rents around $28600 per annum or $550 every week.
Property investors who have had real estate in East Perth, 6004 should be unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -13.89%
Taking the average capital gain, or increase in median house value, East Perth,6004 has racked up an average of -13.89% over the period. This ranks it number 1147th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that East Perth is offering property investors an average of -9.23. This rate of discount on properties puts Suburb at number 50th in terms of most discounted suburbs in WA
The WA suburb of East Perth, 6004 is in the Perth (C) local government area.
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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.