Perth’s housing market has finally started recovering following a three-year downturn, which is the sixth such downturn in the last three decades. Thanks to demand catching up with supply, a strengthened labour market, and affordable housing, property prices are expected to rise within the next 12 months, and some suburbs are already showing steadily rising values.
If you’re an investor, now’s the time to start looking at buying properties before house values top out, meaning you need to know which suburbs have the best potential for growth.
If you’re interested in buying an investment home and need help sprucing the place up, Furniture Fitouts is here to help. Our highly trained and experienced interior designers can prime your property for the market, but first, you need to know which areas of Perth are likely to yield the maximum return on investment.
On average, it takes investors just 39 days to find a tenant for their investment home in Harrisdale, making it the 5th best place to invest in a rental property. Harrisdale lies within the City of Armadale to the southeast of Perth, and thanks to having plenty of amenities, schools, shopping outlets, and parkland, it’s popular with families. The median rent price for a property here is $380 weekly.
Located 10km west of Perth along the coast with an abundance of schools, the Claremont Shopping Centre and a train line, Swanbourne is another favourite with families. It takes an average of 38 days to fill a Swanbourne rental property with a tenant, and the median rental price is $650 per week.
Similar to Swanbourne, it takes investors about 38 days to find a tenant to occupy their rental property, though the average weekly rental price is $450. However, because of this high affordability, Trigg is popular with people looking to reside close to the Indian Ocean.
The average weekly rental price in Banjup is $420 per week, which is $30 less than it was in June 2016. High affordability coupled with a convenient location next to Cockburn’s thriving central hub allows landlords to find a tenant for their house in just 35 days on average.
Located 12km northwest of the Perth CBD, Gwelup attracts residents thanks to being close to the coast and the Karrinyup Shopping Centre, and it only takes an average of 34 days for investors to find tenants to occupy their properties. Plus, the weekly rental price has risen by $10 to $595 since June 2016, making it the only suburb on our list to have seen an increase in rental costs.
Want to Find Tenants Even Faster?
The best way to entice tenants is to prime your property for the market, making rejuvenating its interior décor essential. Fortunately, if you don’t have enough time to revamp your home, we can do the hard work for you.
At Furniture Fitouts, we source high-quality furnishings to kit out your house completely, and if you’re in a rush, we’ll do our best to finish the installation in three days. Call us today to find out how our professional interior designers can help you find tenants quickly.