VICTORIA PARK GREAT FOR INVESTORS IN 2006

April , 2006

Victoria Park and East Victoria Park offer many of the attractions of sought-after Subiaco, but with a more affordable price tag, and so make for great investing in the second half of 2006, according to Perth property buyer's agent Liz Sterzel of Property Wizards.

"These two suburbs are very close to the CBD, have great city access, boast lots of pretty parkland and are right near the river," Sterzel said.

"As well, they offer many wonderful lifestyle attractions, with a lovely restaurant, café and shopping strip as well as nightspots, including Burswood Casino, just minutes away.

"Victoria Park and East Victoria Park have a similar feel to Subiaco, but without the high price tag and with a more casual atmosphere, so they're a quality option for property investing."

Victoria Park has a median house price of $320,000 and has enjoyed growth of 11.1 per cent a year for the past five years.

In East Victoria Park, house prices have grown by 13.3 per cent a year for the past five years and the median price is also $320,000.

Sterzel said while capital growth had already been good in the two suburbs in the past five years, they still offered fertile ground for investors.

"There is still room for buy and hold strategies," Sterzel said.

"Growth is likely to continue because of the lifestyle attractions the suburbs boast, the convenience they offer and the mix of quality properties that are developing.

"The construction of the new Victoria Park train station will also further improve public transport facilities into the shopping and business hub.

"And of course, there is the fact that they border prestigious South Perth and Kensington and popular Como - and all five suburbs offer charming homes and quaint streetscapes."

According to Sterzel, some of the best opportunities are for more active investors who are keen to renovate or subdivide, as well as for those pursuing development opportunities.

"There are older houses ripe for refurbishments that could prove lucrative for buyers and many even have the opportunity to subdivide the block too," she said.

"It's absolutely critical investors have done their sums before buying older properties for refurbishment and/or development."

For more information, please contact
Mr Trevor Dunkley
Director
Property Wizards
trevor@propertywizards.com.au
Tel: (08) 9381 7450