The City of Belmont is an area on the rise, and Perth’s property investors are taking notice. Local suburbs Belmont and Cloverdale featured in Australian Property Investor magazine’s Hot 100 Suburbs of 2013, with both suburbs recording a 13% growth rate in the median house price over the past 12 months – well above the Perth Metro average of 7.2%.
So what makes the City of Belmont such an attractive area to invest? The following list takes a look at some of the key factors that are driving increasing investor activity and growth in the area.
Proximity to CBD
The City of Belmont is located approximately 6km from the Perth CBD, making it an ideal location for city workers. The Graham Farmer Freeway provides a direct link into the heart of the CBD.
Located in the suburb of Redcliffe, easy access to the airport makes the area an attractive option particularly for FIFO workers looking to rent or buy.
Major road links
The area is serviced by major roads including Graham Farmer Freeway, Great Eastern Highway and Tonkin Highway to name a few. Major upgrades to the Great Eastern Highway have recently been completed, providing improved access to Perth Airport.
Residential and commercial developments
The Springs development in Rivervale is well underway and will revitalise the surrounding area. The development is situated on Great Eastern Highway and features a mix of modern residential apartments, townhouses and commercial office spaces.
There is a good mix of properties for buyer’s to choose from, including older style homes on large blocks to newly built homes and townhouses.
Strong rental demand
Rental demand in the area is strong due to its close proximity to the airport and CBD. The area is popular with FIFO workers looking for accommodation close to the airport.
Being an older established area, there are plenty of local amenities including Belmont Forum Shopping Centre, Belmont Oasis Leisure Centre, several schools and medical centres.
So if you are considering purchasing an investment property now is a great time to get in touch with your local Belmont mortgage broker Andrew Sawyer. Contact us on (08) 9277 9888 to find out how we can help you today.