Giving property investors a an unimpressive capital gain of 2.92% for the last year, Spearwood, 6163 is the 3029th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Spearwood has given property investors a paper return of 2.33%. This puts Suburb as 246 on a list of fastest fasting appreciating suburbs in WA
Sellers are offering property buyers an average discount of -6.90% to buyers in Spearwood at the moment, which is less than average for the rest of WA.
In the last year 215 properties changed hands in Spearwood, which puts it as the 23th most active market in WA when comparing the number of sales per suburb.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
At number 1449th in the list of Australian suburbs ordered by increase in median house value over the last year, Spearwood, 6163 is in the BOTTOM 10% with a property value increase of -8.62% recorded in median house prices.
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.
Vendor discounting in Spearwood is giving property investors an average Vendor Discount of around -3.84%. This puts suburb at number 63th in WA when ranking the most discounted suburbs.
With the median price for a house in Spearwood being $265000 and the advertised rent reaching $315 the gross rental yield for property investors calculates out to be 6.18%
Information supplied by:
Cristina Bertone
Professionals Cockburn
M
O
0433097767
W
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.