Experts pick best suburbs

as posted here

REAL estate experts give their top picks for Perth suburbs that first homebuyers should invest in.

Alan Hancock, chairman, Ausnet Real Estate Group

Greenfields

ONE of the more affordable suburbs in Mandurah where you can still buy older homes for under
$300,000. The suburb is near the Mandurah District Hospital. Rents in the area are also high, which means that at a later stage you can rent out the home if you
decide to upgrade to another property.

Medina

One of the cheapest places in Perth to buy a house. There is a growing selection of established threebedroom, onebathroom and twobedroom, onebathroom houses in the suburb for about
$250,000. Over the long term, property values in Medina will benefit from the major investment
planned for the Kwinana town centre.

Thornlie

An undervalued suburb next to the more expensive Canning Vale. It has a railway station providing easy access to the city centre and a high level of social infrastructure, such as schools and shops. You can buy a three-by-one house in Thornlie for under $350,000, and a four-by-one house for
under $400,000.

Midland

An established area that has a high level of social infrastructure, including a railway station. It is
undergoing a major transformation, which will make it a more attractive property market over the
coming decade. You can purchase a well-located villa or duplex in Midland for under $300,000.

Ellenbrook

A ‘‘lifestyle’’ suburb in the Swan Valley, which is growing in popularity. It also has improving social
infrastructure. Newer family homes can be bought in Ellenbrook for under $400,000. When you add up the total costs of building a new home, buying a near-new, established property in a well-designed suburb such as Ellenbrook can prove a more attractive option.

Jay Wood, director, pfr.com.au

Victoria Park/East Victoria Park

INNER-CITY areas that will soon rival Subiaco for social infrastructure, such as restaurants and cafes. Older apartments and villas can be bought for under $450,000. The suburbs have
historically delivered high rates of capital growth and can be an important stepping stone for first-home buyers wanting to climb the property ladder.

Cloverdale

An affordable near-city suburb where the median house price is just $400,000. In the past decade, the median price of a house in Cloverdale has increased on average by 13.8 per cent. The suburb has a good selection of older homes that offer redevelopment opportunities. It has a high level of social infrastructure, such as shopping, schools and good transport links to the CBD.

St James

A near-city Perth suburb where older houses on large blocks can still be bought at prices near their land value. The median price of a home in St James is just $420,000. Over the past decade, the annual price of a home in St James has increased on average by 12 per cent. It has a good level of social infrastructure, such as shops and schools, and access to the city centre.

Wembley

One of the most affordable areas in which to buy a property in the near-city area. First-home buyers on a limited budget can still purchase older-style apartments in Wembley for under
$300,000. This suburb can offer a useful stepping stone for first-home buyers into neighbouring
Subiaco. Property owners in Wembley have enjoyed annual capital growth rates of more than 12 per cent on average each year in the last decade.

Palymra

An undervalued suburb in the Fremantle area with property available for under $500,000. The
suburb is near Fremantle and has easy access to the CBD. Many first home buyers have bought in Palymra and later upgraded to neighbouring Bicton and East Fremantle. Over the past 10
years, the annual capital growth for properties in Palymra has been an impressive 12.4 per
cent.

Travis Coleman, valuations manager, Propell National Valuers

Safety Bay

YOU can still buy established houses in this coastal suburb for less than $400,000. Block sizes can be more than 800sq m. The area is undergoing urban renewal, with a major redevelopment
planned for the nearby Waikiki Hotel.

Warnbro

Another Rockingham coastal suburb that has a large selection of affordable properties for sale.
The suburb has the attraction of having a railway station nearby. Older-style homes that are not
yet renovated can be bought for near their land value. The spread of urban development in
areas farther inland, such as Baldivis, should make coastal homes in areas such as Warnbro more valuable over the longer term.

South Perth/Como

A prime inner-city location where you can still buy older townhouses and apartments for under $500,000. Historically, property owners in this area of Perth have enjoyed high levels of capital
growth. Astute investors should target older-style rental properties that appear ‘‘tired’’. These properties can be transformed by some minor improvements, such as paint and carpets.
The suburb has easy access to the city centre and a high level of social infrastructure, including schools and parks.

Greenwood

A well-established suburb in the northern coastal area where the median house price is $440,000. House prices in the area are very affordable relative to its distance to the city centre. The suburb also has the attraction of having a railway station. Block sizes are large and land values
should continue to increase as a result of urban developments to the north and east of
Greenwood.

Beldon/Heathridge

Another very affordable coastal area of Perth where the median house price is under $400,000.
Properties in these nearby suburbs have recorded high levels of capital growth over the last decade, with an annual price growth rate of over 13.1 per cent. The homes are generally on big blocks and first-home buyers should benefit from rising land values because of the scarcity of building blocks in this area of Perth.

James Limnios, chief executive, Limnios Property Group

East Perth

ASTUTE first-home buyers can buy onebedroom apartments in East Perth for under $400,000. After significant private and government investment, East Perth is now becoming a very desirable area in which to live. Social infrastructure, such as shopping, is also improving. The median price of a house in East Perth has increased 16.6 per cent on average each year over the past 10 years.
Northbridge

An inner-city area of Perth that will directly benefit from the massive new investment planned after the sinking of the railway line, which is now finally a reality after more than 40 years in the planning. There is still a large selection of two-bedroom, two-bathroom apartments in Northbridge for couples looking for larger, inner-city homes.

Tuart Hill

One of the more affordable near-city suburbs, which offers easy access to the city centre.
There is a good selection of established villas and townhouses in Tuart Hill for under $500,000. You can even secure a smaller villa for about $300,000. The suburb has good public transport links to the city centre and a high level of social infrastructure, such as schools and shopping. The
demand for homes in Tuart Hill is underlined by the fact that the Limnios Property Group is now achieving record prices for homes in the area.

Mt Lawley

One of the premier suburbs in Perth, which still has very affordable options for first-home buyers. Older-style two-bedroom, onebathroom apartments can be bought for about $300,000. With
cosmetic renovations, the value of these olderstyle apartments can be substantially enhanced. The median price of a house in Mt Lawley has increased by about 12 per cent on average each year over the last decade.

Maylands

A near-city suburb that also has the benefits of a pubic railway system, which residents can use to access the city centre. Maylands is also growing in popularity because of its riverside location and the growing focus on ‘‘lifestyle’’. There is a big selection of apartments and villas in Maylands
for under $500,000.


as posted here