Perth's Northbridge a solid choice for investors
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Feb 28, 2019
Perth's Northbridge a solid choice for investors
Research conducted of the Perth inner-city suburb Northbridge for the past five years demonstrates this suburb should be on investors’ short-lists.
With a balanced rental market and 4 per cent yield, this locale is one of the best performing apartment markets currently in Perth.
Analysing a total of 1,136 sales, the research from Property ESP found some very interesting trends.
Those apartments located between Lord and Beaufort Streets, in particular, demonstrated 4 per cent median price growth over the last five years and they also representing over a quarter of the sales.
Two bed and two-bathroom apartments dominated the sales (55 per cent) with a median sale price of $550,000.
This area is also dominated by commercial and this appears to have had a positive impact on price growth 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 is becoming a sought-after address.
And as for investors, with 66 per cent of the population renting in Northbridge, the figures represent a solid investment option, especially in light of the performance of the Melbourne and Sydney markets of late.
Data from the ABS also demonstrates that close to 90 per cent of households are singles or couples with a median household income of $1767 per week.
When considering a property investment, you’re looking for an affordable price point, strong rental demand and signs of price growth - on these measures Northbridge ticks all the boxes.
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