WA has seen average median house prices change by -2.48% which means that Spearwood, 6163 has not done well for property investors by showing a capital gain of -4.79% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Spearwood has fallen somewhat when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Spearwood is offering property investors an average of -8.57. This rate of discount on properties puts Suburb at number 132th in terms of most discounted suburbs in WA
Advertised rents are around the $350 mark per week – giving a return of 4.07% based on the median price in Suburb
Spearwood is in the bottom 40% in WA when comparing median price capital growth over the last year. Spearwood gave property investors a disappointing capital gain figure when compared to the rest of the state, with -10.61%.
Across a shorter period, Spearwood, 6163 has seen a median price increase of 1.03% over the last quarter.
On average over the past year, suburb has had 2.92 sales per month, which equates to 35 per year.
Advertised rents are around the $310 mark per week – giving a return of 5.46% based on the median price in Suburb
Information supplied by:
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.