PADBURY SHINES AS NORTHERN LIGHT IN PERTH

April 18th 2006

Perth property buyer's agent Trevor Dunkley of Property Wizards has highlighted Padbury as a stand-out investment option in the northern suburbs this year.

"Kingsley, Greenwood and Padbury are all getting their fair share of attention from investors, but we believe Padbury is the pick of the bunch," he said.

"Padbury is less than five kilometres from the ocean, is west of the freeway and comprises many older homes with exciting growth potential.

"It is really in a wonderful location that has all the hallmarks of a suburb set for further double digit growth in the short and medium term."

Mr Dunkley said buyers searching in the Padbury area should take care to select superior properties and not get caught up in the hype of the current booming market.

"The key is to choose the right property within the suburb, and then to avoid paying too much for it," he said.

"It's easy to fall into the trap of competing with other buyers in this sort of climate, but that can negatively influence the performance of what otherwise would have been an ideal investment."

Mr Dunkley said buyers interested in a successful buy-and-hold investment should be focusing on securing older, more affordable homes in Padbury.

"Look out for properties that you can pick up for close to the land value," he said.

In the 12 months to December 2005, Padbury's median house price was $286,250 - a little over half of its star-performing beachside neighbour Hillarys, which had a median house price of $513,750 over the same period.

Mr Dunkley said the opening of a new train station at Greenwood last year was a positive for Padbury.

He also said plans to extend the Mitchell Freeway and the train line north should increase property values into the future.

"These extensions should positively impact house prices as the outlying areas become more populated, the relative closer areas such as Padbury start to be considered as even more convenient 'urban' areas," Mr Dunkley said.

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