LONG TERM WINNERS IN THE CITY'S
NORTH
22nd August 2006
With the prospect of long-term superior growth,
premium homes in North Perth, Leederville and Mt Hawthorn are
proven winners for property investors, according to Property
Wizards buyer's agent Liz Sterzel.
Ms Sterzel said the future looked bright as the
suburbs had recorded stable growth and a good buy now would
pay off in the long-term as the central city spreads outward.
"High-end properties already generally double
in value every seven years and as Perth grows forcing people
further out, properties this close to the city will become more
and more valuable," she said.
"The best investment strategy in these suburbs
is to buy the right property and hold onto it for long-term
growth. Even though these properties fetch higher-end prices,
many are wonderful investments if you can hold onto them.
"Properties that enjoy great growth in particular
are character homes on lovely streets as they are in limited
supply which helps to protect property values."
Ms Sterzel said prior to the boom, in the 15 years
to December 2002, North Perth, Leederville and Mount Hawthorn
all featured in Perth's top 15 long-term growth areas.
Today, the median house prices are $540,000 in
both Mt Hawthorn and North Perth and $525,000 in Leederville
for the year to June 2006.
"Properties with the option to subdivide
are quite rare but highly sought after as they can allow buyers
to add value," she said.
"Another good investment opportunity available
in the area lies in sites situated on main roads, which can
be used for commercial as well as residential development."
Ms Sterzel recommended buyers considering older,
federation-style homes carefully assess the condition to be
sure it is structurally sound and that any renovations would
not cause a budget blow-out.
"Why not save yourself the excess work -
unless you're a confident, knowledgeable renovator it can often
be better to buy a property someone else has done up,"
she said.
For more information, please contact
Mr Trevor Dunkley
Director
Property Wizards
trevor@propertywizards.com.au
Tel: (08) 9381 7450
