With disproportionately large incomes FIFOs accustomed to travelling to and from the airport are taking the plunge and buying in the City of Belmont in big numbers. Many are First Home Buyers but many are investors seeking to capitalise on the better rental returns compared to other similarly priced areas in Perth. In the City of Belmont there is up to a 15% better rental return in the area than similar priced properties in Morley or Nollamara. With the recent rezoning in the area that took effect in December, developers are also beginning to come back into the market after a long absence after the GFC. The widening of Great Eastern Hwy, “The Springs” development in Rivervale on the river near The Farmer Fwy and the new stadium in Burswood are all solid reasons to expect this area to outperform the wider Perth market over the next few years. Contact Andrew Huggins at Ray White Urban Springs for more information.
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If you are researching a real estate agent in the City of Belmont WA, understanding what is really happening in the Perth property market has never been more important. While recent price growth has attracted attention, the more significant story lies beneath the surface, an extreme shortage of available homes combined … Read more
Today’s 25-basis-point interest rate increase by the Reserve Bank of Australia will undoubtedly attract headlines and prompt questions about its impact on property markets. In most Australian cities, higher rates tend to cool demand by reducing borrowing capacity. However, Perth’s current market dynamics are materially different, and the effect of this … Read more