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January 25, 2012 | Media Statement
Particular Joondalup properties have the potential to be star performers for investors thanks to strong demand for student housing in the suburb, according to Perth-based Property Wizards Buyer’s Agents.
“Joondalup is becoming its own hub and has everything that the city of Perth offers – it’s a developing, modern, self-contained city, so it’s well suited for all demographics and is filled with facilities to maintain a brilliant lifestyle,” says Property Wizards’ managing director Liz Sterzel.
“A great deal of money is also being invested into Joondalup’s infrastructure – the Health Campus is being redeveloped, the rail line is being extended north past Joondalup which will make the suburb even more attractive as a central hub, and the freeway into the area is being expanded, improving access.
“Those projects and more, the fact that the median price of the suburb is $472,500 – in line with the median for the Perth metropolitan area – and its popularity with students attending local education institutions mean it offers some specific investment opportunities.
“Another plus is that last November, the shire – which includes Joondalup, Heathridge and Edgewater, amongst other suburbs – was named the top city in the world for cities with populations of 150,000 to 400,000, according to an international competition endorsed by the United Nations that was judged on criteria including healthy lifestyle, community involvement, arts, cultural heritage and environmental best practice.”*
JOONDALUP RATING = GOOD
The Joondalup council has proven to be very good, particularly at forward planning and executing those plans at the appropriate times, Sterzel says.
“The suburb is still a fair distance from Perth’s CBD but the freeway connection to the city is very good, as is the rail line which can deliver commuters to Perth in 34 minutes,” she says.
“There is also a sound network of buses that run throughout Joondalup and into the railway station, as well as the city.”
When it comes to amenities, Joondalup delivers.
“As well as offering many teaching facilities, the industrial precinct provides great work opportunities,” says Sterzel.
“There is also a good selection of government and private schools, a large shopping centre, cafes, nightlife, and well-developed sports and leisure facilities, including the Joondalup Resort which includes a golf course as well as dining spots.”
“When investing in Joondalup, seek out houses or apartments that are near to the university, TAFE, Police Academy, nursing college, and hospital campuses as they will be ideal for leasing, furnished, to students and workers, generating an above average rental yield and growth that keeps pace with the metropolitan average,” says Sterzel.