So PropertyESP has been developing some suburb profiles for clients, which outline capital growth, rental vacancies and rental yields plus other interesting data.
We have only just started but already Maylands and West Leederville are looking like promising inner suburbs for investors.
West Leederville has experienced 9.3% capital growth per annum for the last ten years and provides a 5.5% rental yield. This is above Perth’s average of 7.3%.
On the other hand Maylands has also experienced above average growth at 11.7% per annum over the last decade and furthermore 51% of residents in the area rent an apartment (Source ABS). The Maylands culture therefore appears to be very much in love with apartment living!
Both these locations are also undergoing a redevelopment process with the City of Cambridge in particular looking to bolster the commercial as well as residential components to create a very active West Leederville. They are also both centrally located to train and bus services.
These are locations that offer great promise – they will essentially evolve from low key areas into locations that offer a range of amenities and services, due to significant investment and the Cities propensity to trigger change.
It is these locations that offer good, above average growth and which retain their character that PropertyESP believe are the gems within Perth and hence are worth a look.
Let us know what you think! Share your favourite suburb with us!
We will continue to unearth key locations, including East Perth over the coming weeks – so stay tuned.
PropertyESP loves to research sales and property trends and then share the news with their clients. We drill down into the data to understand the why and how. We basically make sense of property!