With our beautiful beaches, great climate and transforming city, it’s easy to see why Perth is such a fantastic place to live. But did you know that it’s also considered one of the best investment property locations for 2016?
At Summit Projects, we believe it’s a fantastic time to invest, from Perth narrow lot homes to backyard subdivisions. Because we operate at the forefront of Perth development, we can see multiple reasons why investment property development (Perth) is so appealing:
Oversupply = cheaper prices
A quick look at Perth property reports will likely indicate that there are currently too many homes on the market. This is good news for investment property developers who should enjoy greater bargaining power when securing that ideal location. According to CoreLogic figures in March 2016, Perth house prices are discounted by an average of 6.8%. This discount can bring older, more established areas into your price bracket, meaning you are more likely to secure a block that is zoned for subdivision, such as a backyard subdivision, narrow lot homes or even apartment developments.
When selecting Perth’s best suburban property investments, be sure to not get blinded by a low price and always do your due diligence (something our team at Summit Projects are happy to help you with!).
Prices are expected to pick up again, as is the population!
Many of the Perth property development tips indicate that Perth’s property prices are reaching the bottom of their cycle and are expected to begin to climb again. Early 2017 is tipped by one expert to be the turning point when the Perth property market will start to increase in price again. In addition, it is anticipated that Perth’s population will also begin to rise once more, increasing the demand for rentals.
Interest rates are still low
No matter which investment property in Perth you choose, you should benefit from low interest rates which will help you to pay off your Perth development sooner.
Where are the best suburbs to invest in Perth?
Rezoning opportunities that also offer great lifestyle benefits can help dictate the best investment property locations in Perth.
The best investment suburbs (Perth) have been highlighted as being along the coast, from Mandurah and Secret Harbour all the way up to Yanchep and Two Rocks.
Perth development strategies are encouraging higher density around public transport, which has seen another expert pinpoint Warwick and Heathridge as two of Perth’s best suburban property investments.
Seize your Perth property development opportunity with Summit Projects
With more than $650 million worth of unit developments under our belts, you might say we are the Perth property development experts.
From Perth apartment developments and backyard subdivisions to narrow lot homes, we can help you identify Perth property development opportunities then design and construct an investment property (Perth) with great tenant appeal.
We can also help with your investment property finance strategy (Perth) thanks to Westgate Finance, our in-house property development finance team.
To organise your obligation free Perth property development consultation, call us at Summit Projects today.
Disclaimer: The information within this article is general information only and it does not constitute advice or recommendation. It does not take into account your financial situation, investment objectives or personal circumstances. Before making a decision about developing your property, you should seek independent financial, legal and taxation advice.