Spearwood has had a pretty good year for property investment returns compared to the rest of WA, giving investors a capital gain of 2.40% to date .
Comparing Spearwood,6163 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Spearwood, 6163. Typically our figures indicate that -7.66% is being offered, which puts this WA suburb at 860th most discounted overall in Australia.
In the last year 116 properties changed hands in Spearwood, which puts it as the 67th most active market in WA when comparing the number of sales per suburb.
Situated 18.28km from the CBD, Spearwood is one of Cockburn (C) localities in the postcode 6163.
At number 1523th 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 -21.08% recorded in median house prices.
Across a shorter period, Spearwood, 6163 has seen a median price increase of -7.30% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Spearwood is offering property investors an average of -9.02. This rate of discount on properties puts Suburb at number 72th in terms of most discounted suburbs in WA
A $315 per week rent on the median house gives suburb investors a gross yield of circa 5.61%, without taking into account capital value appreciation, which has been averaging out at 3.31%.
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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.