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ForrestfieldForrestfield - SUBURB PROFILE REPORT
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Property investors have seen a 2.65% 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 16.25%.
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 $465,000
Profits averaged 7.78% 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 $400 based on current median home prices for the suburb.
The gross rental yield in FORRESTFIELD, 6058 is 4.47%.
An average of 23 real estate transactions take place per month in FORRESTFIELD which translates to 276 per annum.
Improved infrastructure is breathing new life into Western Australia’s property market, especially in the suburb of Forrestfield, long ignored by property investors in the past. Dubbed by realtors as one of Perth’s next real estate hotspots, Forrestfield is located in the southern part of Perth and its international airport. Forrestfield is part of the local government area of the Shire of Kalamunda.
Better transport links
Forrestfield is making waves because of news surrounding its Forrestfield Airport Link, which is expected to liven up business activities in the suburb. The airport link will connect Forrestfield’s train station to the Perth International Airport. The Forrestfield council is optimistic about the airport link and strongly believes that the increased foot traffic will channel investments to the local economy.
Investor sentiment
Buyer confidence has since improved in Forrestfield, leading to a price rebound. Realtors report fielding several inquiries about new projects as well as land for sale in new estates. The suburb’s real estate portfolio features a blend of mixed-use developments, apartment blocks, and attached and standalone homes.
Nearby amenities
When it comes to amenities, Forrestfield has the Hartfield Park Recreation Centre, which has an indoor sports stadium, and several malls and parks for residents’ sports, leisure and entertainment needs. The suburb also boasts of several well-respected academic institutions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $465,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 2.65% | N/A |
| Median 12 month | 16.25% | N/A |
| Median 3 years | 23.34% | N/A |
| Median 5 years | 13.41% | N/A |
| 10 years average annual | 2.93% | N/A |
| Weekly media advert. rent | $400 | N/A |
| Time on Market | 26.0 days | N/A |
| Gross Rental Yield Percent | 4.47% | N/A |
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