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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