At number 3097th in the list of Australian suburbs ordered by increase in median house value over the last year, Spearwood, 6163 is in the BOTTOM 30% with a property value increase of -1.15% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Spearwood,6163 has racked up an average of -1.15% over the period. This ranks it number 3604th in the whole country for real estate investors looking at median house price increases.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.77% offered to property buyers. Sellers in Spearwood itself are offering an average vendor discount of -6.43% to real estate investors.
With the median price for a house in Spearwood being $430000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 4.23%
If you compare the increase in value of investment property in Spearwood, 6163 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -13.56%.
Over the longer term, Spearwood has seen property prices show investors a -28.67% return over the last 3 years. This is an improvement over the last 12 months
Spearwood, 6163 is offering WA ‘s 4th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this WA.
Often selling an investment property can take time, and in Spearwood the average time real estate has been on the market is 162.483 days.
Information supplied by:
Cristina Bertone
Professionals Cockburn
M
O
0433097767
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E
[email protected]
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.