Forrestfield

POSTAL CODE: WA, 6058

HOUSE

UNIT

Property investors have seen a 4.04% gain in FORRESTFIELD based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on FORRESTFIELD, 6058 can rest assured about this WA suburb's performance. The suburb saw median home prices rise by 11.69%.

Based on its average 5-year and quarterly capital gains FORRESTFIELD, 6058 saw average growth in the long term.

The WA suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $759,500

Profits averaged 17.33% per annum over a 3-year period, due to an upward trend in home prices in FORRESTFIELD, 6058.

This means, real estate investors could earn a rental income of $662.5 based on current median home prices for the suburb.

The gross rental yield in FORRESTFIELD, 6058 is 4.54%.

An average of 22.17 real estate transactions take place per month in FORRESTFIELD which translates to 266 per annum.

Property investments in FORRESTFIELD fare well against the rest of the country last year, registering a median home price increase of 0%.

Figures from the previous quarter show that capital gains for real estate buyers in FORRESTFIELD are high, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains FORRESTFIELD, 6058 saw average growth in the long term.

This means, real estate investors could earn a rental income of $600 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In FORRESTFIELD, homes and units usually stay on listing for an average of 20.5 days.

the WA suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $545,000

Investors saw the median home price rise to $545,000.

FORRESTFIELD ranks 48th on the list of best yielding suburbs for rental properties in WA, posting a 5.72% return.

Surburb overview

Situated 15 kilometres from Perth’s CBD on the edge of the 56-hectare Greenmount National Park and near Hatfield Park and the Lesmurdie Falls National Park, Forrestfield is a suburb bursting with natural amenities for prospective owner-occupiers and investors.

Greenmount National Park’s rocky landscape makes it a popular destination for climbers and abseilers, while its picturesque trails, brimming with wildlife and accentuated by scenic views, are an attractive offering for hikers, mountain bikers, and bushwalkers. Not only does Forrestfield possess countless natural amenities, it also boasts convenient access to major arterial roads, including the Roe Highway, Tonkin Highway and Great Eastern Highway, which connect Perth to regional Western Australia and beyond, as well as regular bus services and a train station, all of which provide seamless access to Perth’s CBD and surrounding suburbs.

The City of Kalamunda suburb has a diverse range of property types, from older-style homes to modern houses and apartments.

The local council has a number of development plans for the area in place, including the Forrestfield/High Wycombe Industrial Area, set for completion in the middle of 2023, while also adhering to a vision and strategic planning system aimed at ensuring the region can accommodate a projected population of 80,000 people in 2031.

Flanking the southern border of Perth Airport, the suburb also benefits from shopping centres, restaurants, and entertainment options nearby, providing residents with easy access to everyday necessities. As such, Forrestfield is a sound investment choice for those seeking a desirable inner-city location that offers a high quality of life.

Median rents in the region start at $480 per week, with gross rental yields of approximately 5 per cent and average annual growth of 3.1 per cent. In the 12 months to January 2023, 265 properties in Forrestfield changed ownership.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$759,500	$545,000
Growth Report
Median Quarterly	4.04%	0%
Median 12 month	11.69%	0%
Median 3 years	52.66%	79.57%
Median 5 years	89.88%	0%
10 years average annual	5.84%	11.36%
Weekly media advert. rent	$663	$600
Time on Market	25.9 days	20.5 days
Gross Rental Yield Percent	4.54%	5.72%

Demographics (Median Values)*

Total Population 12690

Weekly Household Income 1459

Household Size 2.60

Average Age 37

Monthly Loan Repayment 1858

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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