WA has seen average median house prices change by -1.92% which means that Spearwood, 6163 has not done well for property investors by showing a capital gain of 0.43% over the last year
Spearwood,6163 was ranked 2594 in Australia by increase in median property value over the quarter.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.24% offered to property buyers. Sellers in Spearwood itself are offering an average vendor discount of -7.12% to real estate investors.
On average over the past year, suburb has had 12.92 sales per month, which equates to 155 per year.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 0.82%, investors should hope to achieve an overall return of 3.90%
Spearwood has had a pretty average year for property investment returns compared to the rest of WA, giving investors a capital gain of -7.49% to date .
A -5.97% growth in median value for property investors in Spearwood,6163 puts this suburb at number 64th in terms of best performing suburbs in WA
Property buyers and investors in Spearwood 6163 should be seeing an average reduction in asking price of around -5.57% . This means that Spearwood is holding prices well when compared to other suburbs in WA.
Situated 18.19km from the CBD, Spearwood is one of Cockburn (C) localities in the postcode 6163.
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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.