Over the last year, property investments in Spearwood, 6163 have given investors a capital gain of 37.99%. This compares very favourably with the 12.86% for WA as a whole.
Over the longer term, Spearwood has seen property prices show investors a 32.04% return over the last 3 years. This is an improvement over the last 12 months
Property investors looking for a bargain in Spearwood should be aiming for at least 0.00% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Spearwood have been waiting around 78.3636 days to sell a property.
Using the current median advertised rental of $585 and the average annual increase in value of a median property of 10.22%, investors should hope to achieve an overall return of 5.89%
At number 109th in the list of Australian suburbs ordered by increase in median house value over the last year, Spearwood, 6163 is in the top 10% with a property value increase of 38.37% recorded in median house prices.
Comparing Spearwood,6163 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Spearwood is offering property investors an average of -0.73. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in WA
Often selling an investment property can take time, and in Spearwood the average time real estate has been on the market is 51.8293 days.
Spearwood is 71th on a list of best yielding suburbs for rents in WA with a 0.00% return
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.