Suburb Profile Report for Belmont WA (6104)

Belmont House: Median price $417,500, Annual capital growth 0.45%, Number of sales 68, Weekly median advertised rent $370

Belmont Unit: Median price $267,500, Annual capital growth 0.88%, Number of sales 34, Weekly median advertised rent $320

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Property value increases in Belmont have tracked just lower than the WA average of -2.74% over the last 12 months.

A -25.45% growth in median value for property investors in Belmont,6104 puts this suburb at number 229th in terms of best performing suburbs in WA

Property investors looking for a bargain in Belmont should be aiming for at least -8.11% off the asking price, which is the average vendor discount being achieved at the moment.

Situated 7.19km from the CBD, Belmont is one of Belmont (C) localities in the postcode 6104.

Over the last year, property investments in Belmont, 6104 have given investors a capital gain of -17.94%. This compares very badly with the -6.57% for WA as a whole.

Comparing Belmont,6104 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period

At number 60th of WA’s most discounted properties, Belmont is in the TOP 20% of the state/territory when listing in order of most discounted to least.

At number 1242 in a list of fastest selling suburbs, Belmont is in the bottom 10% of suburbs in Australia with an average of days on market 124.368 for properties listed there.

Greg Orbinski Information supplied by:

Greg Orbinski
Porter Matthews Metro

M 0417936524
O

W portermatthewsmetro.com.au
E greg@portermatthewsmetro.com.au

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.

Metrics i HOUSE UNIT
$417,500 $267,500
-0.06% -6.14%
-7.22% -17.94%
0.45% 0.88%
$370 $320
68 34
4.61% 6.22%
68.8571428571429 124.368421052632

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
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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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