Promoted Content

Why Forrestfield make sense for your future in Western Australia

By Satterley Property Group

Promoted by Satterley Property Group.

Forrestfield is located close to major industrial employment centres and only 15 km from the PerthPerth, TAS Perth, WA CBD in Western Australia. It is also close to the expanding Airport precinct that provides retail amenity and an employment centre (outside of the airport noise zone). The Hales estate in Forrestfield is your opportunity to invest in this growing region.

Located 15 km from south-east of Perth, in the State Government's eastern growth corridor, Forrestfield offers residents education, employment, retail and recreation opportunities. Forrestfield has direct access to major roads including Roe Highway and Tonkin Highway, as well as Transperth buses servicing the area. Significant investment into the area by the State Government has resulted in several major projects. Some of these include the Forrestfield Airport Link comprising three new train stations, new DFO Perth and the first Costco in Western Australia.

This will continueto support and drive the residential market within the area. The Hales Estate in Forrestfield is well located with numerous amenities in close proximity. The area is home to significant open space and outdoor recreation, including Lesmurdie Falls and the surrounding nature trails.

 The Hales estate is providing importunities for new housing in the well-established Forrestfield area. It is home to 10 parks, two playgrounds and other recreational facilities. Forrestfield residents have access to several education facilities. Major schools include Forrestfield Primary School, Dawson Park Primary School and two private schools including Heritage College HillsideHillside, VIC Hillside, VIC Christian College.

 As growth within the region is supported by strong infrastructure investment, education and lifestyle drivers it is expected that demand for residential product will continue. Forrestfield is bounded by the Darling Scarp and the southern end of the Perth Airport. The suburb is bordered by Wattle GroveWattle Grove, NSW Wattle Grove, WA, High Wycombe, Maida Vale and Kalamunda.

Buying at The Hales is a smart move for those ready to hit the ground running with existing amenities such as schools, shops and transport already in place and heavy investment already underway for future infrastructure.

FORRESTFIELD-AIRPORT LINK $1.86 billion

With three new train stations being constructed at RedcliffeRedcliffe, WA Redcliffe, QLD, Airport Central and Forrestfield, the project aims to connect the eastern suburbs of Perth to the CBD and wider Perth.

Forrestfield Train StationThe new station currently under construction is due to open in 2020 and will only be a 20 minute journey to the CBD. There is ample parking proposed with space for up to 2,500 cars. The proposed, Forrestfield Train Station is located only 2.4 km from The Hales estate. It will stop at the future Airport Central and Redcliffe Train Station, providing easy access to the new DFO and Costco as well as Perth Airport.

 DFO $145 million

The first premium Outlet Centre in Western Australia is expected to be completed at the end of 2018. It is located close within the Perth Airport close to the new Redcliffe Train Station. The centre will feature over 110 fashion outletstores as well as food and beverage outlets. To support visitors, the centre is also set to provide a playground, outdoor seating and parking for more than 1,500 cars.

COSTCO $55 million

Situated adjacent to DFO in the Perth Airport is the site of the first Costco in Western Australia. It will entail 14,000 sq.m of building area and will include and Optical Centre, Tyre Centre and petrol station, to name a few. The Halesis just an 11 minute drive. It is set to open in2020. Construction is expected to generate 200jobs, with a further 275 new jobs available once operational.

FORRESTFIELD SHOPPING CENTRE

The centre has recently been refurbished and has a range of specialty stores, dining options, and a children’s playground.

FORRESTFIELD

Residential Analysis

Characterised by its lifestyle and educational amenity, Forrestfield is a fast-growing suburb in Perth’s East. With the surrounding infrastructure projects planned, it is expected the residential market within Forrestfield will continue to strengthen. Forrestfield has historically performed well, registering a compound median house price growth of 7 per cent per annum over the past 20 years. The median house price in Greater Perth is currently $495,000. The recent softening in the market brought greater affordability to Forrestfield with the median house price being $400,000 for the December quarter in 2017, based on 216 transactions. Forrestfield is one of Perth’s middle ring suburbs and offers affordable housing options in comparison to neighbouring suburbs. There is potential price growth opportunities over time. New monthly dwelling approvals in January 2018 reached an all-time high since 2015. During 2016 and 2017, dwelling approvals grew by 20 per cent in the Forrestfield- Wattle Grove SA2 area, with a total of 873 house approvals and 110 ‘other residential’ approvals, largely semi-detached and units. This considerable boom in residential product is reflective of the area’s strong residential market and is expected to be met with similar demand from the region’s population growth moving forward.

Rental Analysis

Forrestfield’s rental market is being driven by young couples’ and families’ preference to reside in an amenity rich suburb that will offer connectivity and employment opportunities. The strength of Forrestfield’s market is highlighted by its indicative rental yield of 4.6 per cent for houses for the period ending December 2017. This yield is significantly higher than the Greater Perth benchmark of 3.8 per cent. The higher yield is largely a result of the more affordable product selling, and the consistently relatively high rents being achieved. Analysis of REIWA data revealed weekly rental increases for three-bedroom houses. Across all housing product in Forrestfield

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podcast

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  ["title"]=>
  string(72) "Mortgages in a tighter lending economy and why Brisbane is a good option"
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  string(72) "mortgages-in-a-tighter-lending-economy-and-why-brisbane-is-a-good-option"
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Tune in to the latest episode of Property Showcase, the podcast with the inside track on the products and businesses that will help turbocharge your portfolio, maximise returns and make your overall investment experience seamless and stress-free!

" ["fulltext"]=> string(818) "

To hear more about these services, make sure to tune in to this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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Son Pham is the accredited Head of Mortgages at Rethink Financing\/Rethink Investing. He has over 6 years\u2019 experience writing loans, over 12 years in the wealth management industry working for the likes of CBA, AMP and private practice and he is also a licenced financial planner (AFSL 326450). He has multiple investment properties that are cash flow positive which help pay his mortgage on his home and fund his lifestyle.<\/p>\r\n

Son is able to write all types of residential and commercial property loans.<\/p>\r\n

In this episode of Property Showcase, head of mortgages at Rethink investing Son Pham joins host Tim Neary to unpack how an investor should approach getting a mortgage in place with banks tightening down on serviceability.<\/p>\r\n

Hear from\u00a0Son\u00a0about:\u00a0<\/p>\r\n

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  • The pitfalls that he has seen people get into<\/li>\r\n
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    Whether it\u2019s building a successful property portfolio or investing in one of their Development Funds, Open Corp can help you through every stage of your investment journey. The team has 40 property specialists who collectively have been involved in over $4 billion worth of property transactions and the acquisition of more than 8000 homes and investment properties.<\/p>\r\n

    In this episode of Property Showcase, director of investment services for Open Corp Michael Beresford,\u00a0joins\u00a0editor of Real Estate, Tim Neary to share why he disagrees that the cooling market means that the best times are behind us.<\/p>\r\n

    In this episode, hear from\u00a0Michael\u00a0about:\u00a0<\/p>\r\n

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Mortgages in a tighter lending economy and why Brisbane is a good option
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Will Magee has had ambitions to enter into the Australian property market for quite some time, but it has been more than just finances holding him back.  Having been granted permanent residency just two weeks ago, Will is wasting no time and is now in the process of signing papers and finding his first investment property.

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In this episode of the Smart Property Investment Show, Will joins host Phil Tarrant to share why he is purchasing his first property in partnership with his brother, discuss the complications that can arise from such a strategy, and unpack the ongoing plan for building a joint property portfolio with his brother.

Will will also share how they approached saving for their first property, why he is taking out the mortgage in his name exclusively, and share their savings plan for the year ahead.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

From property in Australia to a ski lodge in Japan
Mortgage Trusts, an alternative first step for property investors
Should a real estate title be in one person’s name only?

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A property investment plan years in the making
object(stdClass)#1185 (52) {
  ["id"]=>
  string(5) "18287"
  ["title"]=>
  string(75) "Regional Victoria showing up Melbourne in price performance, new data finds"
  ["alias"]=>
  string(74) "regional-victoria-showing-up-melbourne-in-price-performance-new-data-finds"
  ["introtext"]=>
  string(139) "

Median house prices in regional Victoria outperformed that of Melbourne in the June quarter, the latest REIV figures reveal. 

" ["fulltext"]=> string(2323) "

Median house prices in the regions rose 4.0 per cent to $419,500 but in Melbourne they dipped by 0.6 of a percentage point to $840,000.

The result in Melbourne was due to a 0.8 of a percentage point fall in prices achieved at auction; this was despite a lift of 2.3 per cent in private sales.

Inner Melbourne suffered due to auction prices, where median prices fell by 4.9 per cent to $1,459,000 but it was middle Melbourne that was hardest hit, with a 5.4 per cent drop to $974,500.

Outer Melbourne had a good quarter with the median rising by 0.5 of a percentage point to $681,000.

Apartment prices in regional Victoria grew by 3.7 per cent to $304,500 while the metro media was up by 0.5 of a percentage point to $604,000.

REIV President Richard Simpson said that despite fewer sales, many sectors of the market were performing well.

“2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. 

In particular there was been strong growth in regional centres which is probably due to the first-home buyers’ concessions said Mr Simpsons.

“The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000,” he said.

Mr Simpson said that more prospective buyers are looking towards regional Victoria which is also having an effect in Melbourne.

“Melbourne’s outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

Mr Simpson said moving forward that vendors need more realistic expectations as the highs of 2017 are now over.

“Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations,” Mr Simpson said.

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Regional Victoria showing up Melbourne in price performance, new data finds

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