Five Perth Properties Under $750K
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Five Perth Properties Under $750K

What a quarter-million dollars gets you in the western capital.

By Kanebridge News
Tue, Jun 1, 2021 4:23pmGrey Clock 3 min

Out on the west coast, things are looking a little sunnier as the market returns to strength. Here, five properties that you can buy for under $750,000.

19A Lichfield Street, Victoria Park WA

19A Lichfield Street, Victoria Park WA

Offered to the market for the very first time is this original tuck-pointed character home, built around the 1920’s.

The completely renovated, 3-bedroom, 2-bathroom, 2-car parking home is nestled away in a quiet section of Victoria Park, but remains within walking distance of local cafes, restaurants and shopping.

Inside sees period features, a lofty sense of space provided by the high ceilings and renovated mod-cons.

The bedrooms all have built-in robes, while a spacious verandah and a low-maintenance garden round out the offering in a stylish manner.

The listing is with EMG property solutions, $745,000; emgx.com.au

 

41A Edward Street, Bedford WA

41A Edward Street, Bedford WA

Located in one of the most sought-after streets in Bedford comes this spacious 4-bedroom, 2-bathroom, 2-car parking home.

Inside the 205sqm of living space, the home features a theatre room, study nook, large open plan kitchen, dining and living area that flows out to the gabled patio area.

The large master bedroom suite includes a walk-in robe while the three secondary bedroom is complete with built-in-robes.

The home has easy access to public transport and is close to the Galleria shopping precinct, Beaufort street café strip, Chisholm College and Perth CBD.

While yes, technically the asking is $770,00, it’s too good a property to pass upon.

8A Warren Road, Yokine WA

8A Warren Road, Yokine WA

Found in an enviable Yokine location comes this 3-bedroom, 2-bathroom, 2-car abode.

With stylish contemporary features and high-quality finishes throughout, the home offers an easy-care lifestyle.

Inside, the home boasts a stunning open plan living, dining and kitchen, the latter of which offers stone benchtops, mirrored splashbacks, built-in-pantry, electric cooktop and plenty of cupboard and benchtop space.

Elsewhere the home’s king-sized master retreat holds a beautiful ensuite complete with his and hers walk-in robes.

Further, the home sees two additional bedrooms – both with built-in robes – a second family bathroom, separate study/office and laundry areas.

The home is nearby to Yokine primary and Carmel, bus stops, Terry Tyzack Aquatic Centre and more.

The listing is with Acton Mount Lawley, offers between $719,000 – $769,000; acton.com.au

 

89B Guildford Road, Mount Lawley, WA

89B Guildford Road, Mount Lawley, WA

Well below the threshold, this modern spec townhouse arrives with 4-bedrooms, 3-bathrooms and a 2-car parking.

The kitchen is replete with stone benchtops and modern amenities while the wide entrance hall and timber floors underfoot add to the spacious contemporary feel of the home.

Inside, three stunning bathrooms arrive with full-height tiling and stone benches while all four bedrooms arrive with built-in robes.

Further mod-cons include a built-in vacuum system, double glazed windows and a laundry with a shoot from upstairs.

The townhouse is located in the Mt Lawley high school zone and is nearby to Mt Lawley train station and river.

The list is with NTY property group Maylands, from $649,000; ntypropertygroup.com

 

37 Leonard Street, Victoria Park, WA

37 Leonard Street, Victoria Park, WA

Presenting Monogram, Victoria Park, a limited collection of ten, centrally located townhouses.

The area of Victoria Park is a diverse cultural hub nearby to Crown Perth and Optus Stadium.

On offer is a 3-bedroom, 2-bathroom 2-car parking with a number of layouts and three interior schemes with a private alfresco, generous kitchen with island bench configuration and separate laundry.

Engineered stone features prominently in the kitchen alongside Bosch appliances while built-in robes adorn the bedrooms.

The townhouses start from $699,000; mongramvicpark.com.au



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The locations where apartment rents are picking up the pace

Stronger demand in some areas is pushing unit rents up faster than houses

By Bronwyn Allen
Tue, Mar 5, 2024 3 min

Renters are returning to the apartment market, leading to higher growth in weekly rents for units than houses over the past year, according to REA data. As workers return to their corporate offices, tenants are coming back to the inner city and choosing apartment living for its affordability.

This is a reversal of the pandemic trend which saw many renters leave their inner city units to rent affordable houses on the outskirts. Working from home meant they did not have to commute to the CBD, so they moved into large houses in outer areas where they could enjoy more space and privacy.

REA Group economic analyst Megan Lieu said the return to apartment living among tenants began in late 2021, when most lockdown restrictions were lifted, and accelerated in 2022 after Australia’s international border reopened.

Following the reopening of offices and in-person work, living within close proximity to CBDs has regained importance,” Ms Lieu said.Units not only tend to be located closer to public transport and in inner city areas, but are also cheaper to rent compared to houses in similar areas. For these reasons, it is unsurprising that units, particularly those in inner city areas, are growing in popularity among renters.

But the return to work in the CBD is not the only factor driving demand for apartment rentals. Rapidly rising weekly rents for all types of property, coupled with a cost-of-living crisis created by high inflation, has forced tenants to look for cheaper accommodation. This typically means compromising on space, with many families embracing apartment living again. At the same time, a huge wave of migration led by international students has turbocharged demand for unit rentals in inner city areas, in particular, because this is where many universities are located.

But it’s not simply a demand-side equation. Lockdowns put a pause on building activity, which reduced the supply of new rental homes to the market. People had to wait longer for their new houses to be built, which meant many of them were forced to remain in rental homes longer than expected. On top of that, a chronic shortage of social housing continued to push more people into the private rental market. After the world reopened, disrupted supply chains meant the cost of building increased, the supply of materials was strained, and a shortage of labour delayed projects.

All of this has driven up rents for all types of property, and the strength of demand has allowed landlords to raise rents more than usual to help them recover the increased costs of servicing their mortgages following 13 interest rate rises since May 2022. Many applicants for rentals are also offering more rent than advertised just to secure a home, which is pushing rental values even higher.

Tenants’ reversion to preferring apartments over houses is a nationwide trend that has led to stronger rental growth for units than houses, especially in the capital cities, says Ms Lieu. “Year-on-year, national weekly house rents have increased by 10.5 percent, an increase of $55 per week,” she said.However, unit rents have increased by 17 percent, which equates to an $80 weekly increase.

The variance is greatest in the capital cities where unit rents have risen twice as fast as house rents. Sydney is the most expensive city to rent in today, according to REA data. The house rent median is $720 per week, up 10.8 percent over the past year. The apartment rental median is $650 per week, up 18.2 percent. In Brisbane, the median house rent is $600 per week, up 9.1 percent over the past year, while the median rent for units is $535 per week, up 18.9 percent. In Melbourne, the median house rent is $540 per week, up 13.7 percent, while the apartment median is $500 per week, up 16.3 percent.

In regional markets, Queensland is the most expensive place to rent either a house or an apartment. The house median rent in regional Queensland is $600 per week, up 9.1 percent year-onyear, while the apartment median rent is $525, up 16.7 percent.

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