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Catch a rising star: Perth’s next growth suburbs.

Direction Board For West Perth

So your ready to get into your new home but the first question you need to ask yourself is where? With so many great options in a wide variety of estates it can be hard to narrow down which is the best choice for you. Well, at Commodore Homes we done the research, and we’ve got some great options on our radar that are not only great places to live but could also be a great investment opportunity.

With the mining industry starting to pick up again and with that a ramped up housing market, you should get started before the boom happens.  As with any major investment, it pays to do your homework first. Our research indicates there are growth opportunities to be had throughout Perth.

North of the River

Everything old is about to be new again in the established suburbs of Padbury, Craigie and Duncraig. These suburbs were developed in the 1970’s, when a 3-bedroom home on an 800m2 was the norm. Rezoning means they are now ripe for development.

When it comes to location, location, location, this terrific trio receives a tick, tick, tick. To the east, they adjoin the Mitchell Freeway – making it an easy train ride or drive to either the Perth CBD or Joondalup. To the west, they border Marmion Avenue – you are only one suburb back from the beach and the restaurants and nightlife of Hillarys Harbour.

As you would expect in a long-established area, you have plenty of choice when it comes to schools, shopping centres and leisure facilities.

With the new housing stock, comes a younger generation of owners and renters. Their influence is helping revitalize and refresh these areas; slowly but surely the Greg Brady of the ‘burbs is evolving into a Hemsworth.

South of the River

We have crunched the data and Bibra Lake has emerged as Perth’s top investment prospect. Like our stars of the North of the River, it has recently been rezoned making it the perfect time to divide and prosper.

Not only is Bibra Lake home to our childhood happy place, Adventure World, it is a stone’s throw from Fiona Stanley Hospital and St John of God Murdoch (very handy in case of a waterslide mishap). Murdoch University, private schools and major shopping centres are also on the doorstep. With the Perth CBD only a 20 km freeway commute or train ride away, Bibra Lake is a bargain buy with a median price of $515,164.

The nearby suburbs of Success, Aubin Grove and Hammond Park allow you to buy into the Bibra Lake neighbourhood at an even lower price point.

Further south, Kwinana and Wellard are all set for strong growth. All those people working in lithium-mining related jobs need housing near the Kwinana refinery. Kwinana is a ‘hyper-growth’ city and one of the fastest growing communities in Australia. By 2030, town planners expect the population to double.

East of the River

The Swan Valley has always been one of the jewels in Perth’s crown. Brabham and Caversham are two of the suburbs that make up this picturesque region. Recent changes to zoning are seeing the old hobby farm blocks being converted to housing.

In Brabham alone, it is expected 3000 new homes will be created; that will generate 1,900 direct and 5,900 indirect jobs. The State Government is injecting serious dollars too, with the extension of the railway to Whiteman Park due to begin by 2022.

The region is already well serviced with great schools, including the prestigious Guilford Grammar, with more to come. When it’s time to relax, you have the vineyards and cafes of the Swan Valley to the east, Whiteman Park to the west and the charms of historic Guildford to the south.

The other side of the Swan River is seeing plenty of development too. Forrestfield and Hazelmere are attracting strong infrastructure investment as part of the State Government’s eastern growth corridor.

These middle ring suburbs are both within 20 kilometres of the Perth CBD, and when the $1.86 billion Airport Link is complete they’ll only be a 20-minute train ride away.

The amenity rich area is popular with both owners and renters. With the median price for homes being significantly lower than that of Greater Perth, investors are seeing above average house price growth and earning impressive rental yields of 4.6% pa.

Helping owners and investors identify Perth’s best growth areas is a Commodore Homes specialty. We offer a huge range of home and land packages throughout Perth and our finance specialists can even help with finance. Get in touch today and start building your dream home and investing in your future.

The above is provided for informational purposes only and is not intended as financial advice.

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