AUSTRALIA (Commonwealth Union)_Can you picture an area having a pristine coastline, a beautiful lake, a national park, a growing economy and a robust infrastructure programme all inside its borders? Naturally, a place like this appeals to everyone, therefore its property market has all the makings of a top-notch investment destination.
The oasis I’m referring to is in northern Perth, covering the Wanneroo local council region, which extends north and is just 12 kilometres from the city centre. According to the Real Estate Institute of Western Australia, the median house price in northern Perth is roughly $460,000. This area of Perth is also thought to be expanding at the fifth-fastest rate in the country (REIWA).
From Joondalup in the south, the area travels north to Two Rocks via Clarkson, Jindalee, Alkimos and Yanchep. The Marmion Avenue, which conveniently winds along the beach, makes it simple to travel through each busy centre. However, other urban centres are also proposed for Alkimos, Yanchep and Two Rocks. Wanneroo and Clarkson are the primary business and residential town centres.
From an investment standpoint, the area has a lot of fundamental features that, in my opinion, guarantee its potential for future capital growth. Joondalup’s educational and medical facilities are just two of Northern Perth’s many benefits. Yanchep’s new amenities include the $57 million Yanchep Secondary School, the $7 million Yanchep Surf Life Saving Club and the $8.3 million Yanchep sporting complex. Nearly 45 kilometres north of Perth’s central business district, Eglinton’s plan calls for two new high schools, nine new elementary schools and a district activity centre, making it the ideal place for families.
This year, savvy real estate investors are undoubtedly interested in Perth and Western Australia in general. According to the 2022 PIPA Annual Investor Sentiment Survey, WA has actually climbed rapidly up the rankings to claim second place as the state with the best investment prospects for the coming year. Perth additionally defeated Sydney to claim second place for the capital city with the highest investment opportunities.
Perth’s real estate market is unquestionably at its most booming level since the conclusion of the resource investment boom in 2013, with first-home buyer and development activity at record highs.
