With a capital gain of -4.37% for the last 12 months, Banksia Grove, 6031 has performed for property investments than its average annual 6.62% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Banksia Grove has given property investors a paper return of -0.57%. This puts Suburb as 265 on a list of fastest fasting appreciating suburbs in WA
Banksia Grove6031 is located in WA which offers an average discount of -8.00% to property investors. Banksia Grove itself is showing figures that indicate -5.30% is the average achievable by property buyers investing in the suburb.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 5.19%, without taking into account capital value appreciation, which has been averaging out at 6.62%.
Banksia Grove right up until the late 1990’s was known as Neerabup. In 2005 the Banksia Grove Joint Venture partnership was set up to revive and develop the suburb. This included a further 3500 homes to be built in the new development as well as a Large shopping village which is due to open in 2015, over 30 hectares of parkland including a water park, amphitheatre and skate park. 2 new primary schools, a high school and much more! The completion of Banksia Grove is estimated for 2020.
Information supplied by:
Benchmark – Specialist Property Managers
08 9301 1111
0432 847 940
Banksia Grove is an up and coming suburb. The house prices are rising due to the planned facilities including an education precinct. Banksia Grove already has two primary schools: the Catholic school and Neerabup Primary school. It is a very family orientated suburb with lots of parks, 40 hectares of forever bushland, a proposed skate park, an amphitheatre which puts on regular movies, regular family days including breakfast in the park, Spring in the Grove and Carols by Candlelight. Joondalup is just 5km away, Perth CBD 27km, and 9km to the coast. Major bus routes are also dotted all around Banksia Grove transferring to Joondalup Train Station. Lastly the suburb has been well thought out with the 40 hectares of natural bushland which has water saving plants and wildlife, but also solar panels suggested for the house and land packages and a ‘Green passive Energy efficient Green smart demonstration home’
Most sought-after properties:
Houses conducive to family living are most highly sought after: 4 bedrooms, 2 bathrooms with functional open style living, double garage, and air conditioning.
Everything you need is within a few km’s to Banksia grove including Carramar Golf Course, Wanneroo Golf Course, The Maze, Edith Cowan University Joondalup Campus, Arena Joondalup Sports & Leisure Club, Carramar Village Shopping Centre, Lakeside Joondalup Shopping centre, Mindarie Boat Harbour, Burns Beach, Neerabup primary School & Sporting Grounds, Banksia Grove Catholic Primary School, Wanneroo Raceway, Freeway & Currambine Train Station, Joondalup cinema, Lake Joondalup Nature reserve & Joondalup Health campus.
There have been many recent changes to Banksia Grove. In the last few months the bus route extended to Grandis Boulevard. The later stages of Banksia grove haven’t yet been built and are not due for completion until 2020. Land is still for sale in Banksia grove. The Pit Stop Park and water park have only just finished completion and the shopping centre has been set to open in 2015 which has a confirmed Coles and Liquor land. The doctor’s surgery has nearly finished completion and the new child care centre is set to open in 2014.
The suburb is divided into two sections the ‘old’ Banksia grove and the ‘new’ Banksia grove. The older side has some lovely streets including but not limited to Mornington Drive & Sundowner Meander but also the new side is of great interest to the investors who are trying to get in before the facilities are built and the land prices goes up.
Bus routes through Banksia Grove go to Joondalup train station/shopping centre. Or park and ride from Currambine or jump on the recently widened Mitchell Freeway from Burns Beach Road for a 30 minute drive into the CBD.
Joondalup Drive goes right through the middle of Banksia Grove, Joseph Banks Elbow is the main run through for the new side & Mistletoe Avenue is the main run through for the older part. Wanneroo Road is just off Joondalup Drive and you also have Pinjar Road which has plans to be extended in the future to connect onto Neaves Road.