Research undertaken by PropertyESP of the Northbridge area for the past 5 years demonstrates that this suburb is perfect for investors.
With a balanced rental market and 4% yield, this locale is one of the best performing apartment markets currently in Perth.
Analysing a total of 1136 sales, the research found some very interesting trends.
Those apartments located between Lord and Beaufort Streets in particular, demonstrated 4% median price growth over the last five years, also representing over a quarter of the sales.
Two bed and two bath dominated the sales (55%) with a median sales price of $550,000.
This area is also dominated by commercial and this definitely had a positive impact on pricing in contrast to other apartments in the entertainment precinct.
Properties have also been held onto tightly with only 33 resales in the five year period.
Close to the newly completed Yagan Square and with vibrant events such as Fringe Festival now on the calendar, Northbridge has certainly become a sought after address.
And as for investors, with 66% of the population renting in Northbridge, the figures add up to representing a good investment option indeed, especially in light of the Melbourne and Sydney markets now coming off the boil. And trends from ABS also demonstrates that close to 90% of households are singles or couples with a media household income of $1767/week.
When considering a property investment you certainly want a competitive price, strong rental market and signs of price growth and in this equation, Northbridge scores 100%.
For further suburb analysis contact the team at PropertyESP – we make sense of property!