Property investors who have had real estate in Spearwood, 6163 should be relatively unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.98%
Over the longer term, Spearwood has seen property prices show investors a -9.90% return over the last 3 years. This is an improvement over the last 12 months
Property buyers and investors in Spearwood 6163 should be seeing an average reduction in asking price of around -8.77% . This means that Spearwood is holding prices well when compared to other suburbs in WA.
Residents and property investors in Spearwood have been waiting around 112.97 days to sell a property.
With the median price for a house in Spearwood being $432500 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 4.33%
WA has seen average median house prices change by -5.11% which means that Spearwood, 6163 has not done well for property investors by showing a capital gain of -12.50% over the last year
Taking the average capital gain, or increase in median house value, Spearwood,6163 has racked up an average of -12.50% over the period. This ranks it number 1475th in the whole country for real estate investors looking at median house price increases.
In the last year 40 properties changed hands in Spearwood, which puts it as the 39th most active market in WA when comparing the number of sales per suburb.
Advertised rents are around the $305 mark per week – giving a return of 5.66% based on the median price in Suburb
Information supplied by:
Cristina Bertone
Professionals Cockburn
M
O
0433097767
W
E
cristina@professionalscockburn.com.au
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.