If you’re already, or thinking about becoming a property investor in Perth northern suburbs, you’ll want to stay well informed regarding the latest trends. In recent months, the property market in this area has seen some recent developments which is why it’s important to have your finger on the pulse. Below is an overview of current trends:
Steady Price Growth
The Perth northern suburbs have seen consistent price growth during the past year which can be attributed to an increased demand for suburban living and a desire for spacious homes in new housing developments.
High Rental Demand
There’s no denying that rental properties in Perth’s northern suburbs are in high demand with the appeal being excellent schools, major shopping centers, parks, and amenities. For landlords looking to maximise their rental returns, this is excellent news.
Suburb Spotlight
Suburbs like Joondalup, Wanneroo and Banksia Grove have been standouts in terms of property value appreciation and rental yield. These areas offer a blend of affordability, amenities, and strong growth potential.
Infrastructure
Ongoing infrastructure upgrades such as transport and community developments are contributing to the attractiveness of the investing in Perth’s northern suburbs. It’s also worth mentioning that these improvements and upgrades will lead to long-term property appreciation.
Older Properties for Renovation
Many investors who are purchasing older properties in the northern suburbs are undertaking both minor and major renovations as a means of achieving higher rental returns.
Property Management Services
Given the competitive rental market and demand by tenants for properties, Perth property management services are invaluable for landlords. Property managers offer a hassle-free investment experience by assisting with tenant selection, rent collection, property maintenance and much more.
Professional Advice
As the property market evolves, it’s advisable to consult with local property experts who understand the nuances of the northern suburbs. A Perth property management company like Property West will provide personalised guidance and information based on your investment goals.
In conclusion, with steady price growth, high rental demands, and ongoing infrastructure developments, the northern suburbs continue to offer opportunities for property investment in Perth.
If you’re interested in exploring investment options or need assistance or advice regarding property management, please feel free to reach out.
