Perth Suburbs to Watch

[Ktee]

FOUR Perth suburbs have been tipped to experience above-average price growth this year in a survey of industry professionals.

 

Although property prices in Alkimos, Baldivis, Forrestfield and Scarborough have dropped or stagnated in the past three months, the latest NAB Quarterly Australian Residential Property Survey revealed the four as the suburbs to keep an eye on this year.

 

The best performer among those suburbs in the three months to January was Forrestfield, where the median unit price increased 8.2 per cent.

 

Three of the four suburbs have a median house price below $490,000.

 

Scarborough was the exception, with a median price of $755,250.

 

The median unit price in Baldivis and Forrestfield is below $375,000.

 

Scarborough, which has a median house price of $755,250.

Earlier this year, Terry Ryder of real estate investing specialist Hotspotting said Forrestfield was a suburb with plenty of investment potential.

 

He said there was a lot of new and planned infrastructure in the area including roads, rail links, and various connections to the airport. It was also affordable and the area around Forrestfield would get a boost when the State Government’s airport rail link was finished.

 

The NAB survey of industry professionals found sentiment for property market performance had improved in most states, although it had fallen for WA as a whole.

 

Despite that sentiment, the industry experts predicted house price growth in WA in the next two years to reach 0.4 per cent.

 

NAB Group chief economist Alan Oster said the Australian housing market got off to a better start than expected in the first quarter of 2016.

 

But he said the success story was being written in eastern states, rather than WA.

 

He believed the mining downturn would continue to affect Perth property prices, predicting another 3 per cent fall in values this year.

[Bibbs]

Alkimos - no idea

Baldivis - a lot of new builds, it's going to be a huge area

Forrestfield - new train line to the city, so prices will rise

Scarborough - huge development of the beach front and local area starting soon

 

Also look at anything on the Midland line (between Perth and Bayswater) and Freo lines, as the new train line will make the airport so easy to get to.