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.
If you are looking to sell your property or require property management services please call 08 9277 3555
Perth’s inflation rate is now sitting at 4.9% — the highest in the country. Electricity prices have surged. Childcare is up 13%. Fruit and vegetables up around 12%. Lamb up 14%. Clothing up nearly 7%. Rents up 6%. On a headline level, that sounds concerning. But if you understand how … Read more
If you are researching a real estate agent in the City of Belmont WA, you have likely heard the term Perth Property Gridlock — the severe shortage of listings combined with sustained buyer demand that has defined the current market cycle. But an important question naturally follows: What would cause this situation to … Read more