East Victoria Park - Perth
- Thread starter stevey
- Start date
to say the market has peaked is a huge generalisation... there has ben a lot of completions in the far flung burbs, but areas like EVP are very well located and have a lot of potential. As the population and economy surges the concentration of demand on these inner areas is creating some great gains, particularly in locations such as Leederville and westward to the ocean.
The Australian Property Magazine (June) recommends EVP as one of the better suburbs to invest for under $300k in long-term predicting 15.7% growth (this is for units).
I've been watching this suburb for the last couple of months and it seems things are still selling quite well. A lot of things going for it. Carlisle also seems a good area (on the train line). EVP is predicted to be the next Subiaco, so to speak.
All speculative, of course.
Cheers,
Mark
I've been watching this suburb for the last couple of months and it seems things are still selling quite well. A lot of things going for it. Carlisle also seems a good area (on the train line). EVP is predicted to be the next Subiaco, so to speak.
All speculative, of course.
Cheers,
Mark
I know I am bias, but EVP will never be the next Subiaco.
Firstly, it is not in the golden triangle (Perth-Scarborough-Fremantle-Perth) and secondly it is on the wrong side of the Swan River.
It is a decent suburb, and potentially a good investment, but don't confuse "good" with "prime".
My thoughts as a long term local.
Joe D
I'm quoting what I've read but I was secretly hoping a 'long-term local' would take the literal meaning of the Subiaco analogy and set me straight
.I'm quoting what I've read but I was secretly hoping a 'long-term local' would take the literal meaning of the Subiaco analogy and set me straight
Actually neighbouring South Perth will be the next Subiaco as there is a big development plan associated with the new train station and to upgrade Mends st into a vibrant local hub.
Last time I checked, South Perth was a Blue Chip area, median price is currently over $1M as is Subi, new townhouses in South Perth fetching over $1.5M+.
Stevey
Not sure whether EVP will be the next Subi, somehow I don't think so, but I would consider investing in this area due to proximity to the city and infrastructure. It is only 6kms from city and with median price of around $487K seems good value.
All the best
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As someone said earlier, why not look in SA? I wouldn't be looking in WA unless it was a lifestyle choice (PPOR). The reasons are two fold:
1. Generally, yields are low in WA right now, particluarly for the inner-city suburbs. So your holding costs will be higher.
2. There has been huge price increases here recently and the general consensus is that we've hit the peak. There may be some growth in the next couple of years, but beyond that, who knows.
If you can get say 5% yield on a place in a reasonable suburb in SA, why not look there? If I had say 300k and had the choice of a high-rise unit in EVP (no scarcity or "x-factor"), or something else (with "x-factor") in a reasonable SA suburb, I know where I'd be looking.
1. Generally, yields are low in WA right now, particluarly for the inner-city suburbs. So your holding costs will be higher.
2. There has been huge price increases here recently and the general consensus is that we've hit the peak. There may be some growth in the next couple of years, but beyond that, who knows.
If you can get say 5% yield on a place in a reasonable suburb in SA, why not look there? If I had say 300k and had the choice of a high-rise unit in EVP (no scarcity or "x-factor"), or something else (with "x-factor") in a reasonable SA suburb, I know where I'd be looking.
"If you can get say 5% yield on a place in a reasonable suburb in SA, why not look there? If I had say 300k and had the choice of a high-rise unit in EVP (no scarcity or "x-factor"), or something else (with "x-factor") in a reasonable SA suburb, I know where I'd be looking."
I am not aware of any high rise in EVP as generally they are all large blocks? are you getting confused with VP proper? oh to have kept some stock down that part of town!
the golden triangle comment is valid and the key reason I wouldn't park my $'s in applecross. this doesn't negate the value of investments outside the western burbs tho.
I am not aware of any high rise in EVP as generally they are all large blocks? are you getting confused with VP proper? oh to have kept some stock down that part of town!
the golden triangle comment is valid and the key reason I wouldn't park my $'s in applecross. this doesn't negate the value of investments outside the western burbs tho.
Hi all, I used to surf here a long time ago, but forgot my username and password, so I've re-registered.
I’m confident that anyone who buys and holds in East VP or Central VP will benefit greatly over a 10-20 year period (I mean CG easily exceeding the average for metropolitan Perth).The Town of VP has indicated in its response to the Network City Planning Strategy that several parts of VP are suitable for intensive redevelopment. I’m particularly interested in their comment that the western/ causeway end of the Albany Highway precinct has a large number of sites under single ownership, currently occupied by car sales premises/warehouses, suitable for major redevelopment. It’s not a question of IF this land will be redeveloped, but WHEN. Its location right next to the CBD, river and Burswood make it prime real estate. When this section of Albany Highway precinct is developed, along with the Causeway Precinct development (between Shepperton Road and Burswood Road--plan in draft form at present), it’s not inconceivable that this area could rival Subiaco. Remember --Subiaco was a bit shabby back in the early 90’s.
This type of large scale redevelopment so close to the city will give a big boost to all existing properties in VP. It may not be for many years, but it will happen.
Oh, almost forgot, I'm also biased--I've bought, developed, and am holding several properties in VP--guess I have to talk it up
patb
I’m confident that anyone who buys and holds in East VP or Central VP will benefit greatly over a 10-20 year period (I mean CG easily exceeding the average for metropolitan Perth).The Town of VP has indicated in its response to the Network City Planning Strategy that several parts of VP are suitable for intensive redevelopment. I’m particularly interested in their comment that the western/ causeway end of the Albany Highway precinct has a large number of sites under single ownership, currently occupied by car sales premises/warehouses, suitable for major redevelopment. It’s not a question of IF this land will be redeveloped, but WHEN. Its location right next to the CBD, river and Burswood make it prime real estate. When this section of Albany Highway precinct is developed, along with the Causeway Precinct development (between Shepperton Road and Burswood Road--plan in draft form at present), it’s not inconceivable that this area could rival Subiaco. Remember --Subiaco was a bit shabby back in the early 90’s.
This type of large scale redevelopment so close to the city will give a big boost to all existing properties in VP. It may not be for many years, but it will happen.
Oh, almost forgot, I'm also biased--I've bought, developed, and am holding several properties in VP--guess I have to talk it up
patb
Hi Ausprop,
what distinguishes applex from the golden triangle ? Access to CBD and Beach ?
just geographical location... the triangle is formed by drawing a straight line from the CBD to the ocean, the second side is the line down to north fremantle, the third side from north freo to the CBD.
this is just a line on a map at the end of the day but it is worth bearing in mind that land orginally sold in Lathlain at prices dearer than Dalkeith. that is the power of compounding by buying in the right area.
this is just a line on a map at the end of the day but it is worth bearing in mind that land orginally sold in Lathlain at prices dearer than Dalkeith. that is the power of compounding by buying in the right area.
