Forrestfield revitalisation right on track

November 12, 2015
Nathan Sims

Just 18km from the city & 9km from our domestic airport, Forrestfield has been transformed from a suburb with large residential blocks, to an energetic, high density area with significant development well underway. High density rezoning approval for residential & commercial, along with the multi-billion dollar rail line and a new shopping centre makes Forrestfield an attractive suburb for savvy investors. 

To check your eligibility for a home or investment loan, fill out the section on the right of page today or call direct on 08 6144 3230 & speak to our experienced mortgage brokers.

With the Forrestfield airport link train line on target to be completed by 2020, now could be an opportune time to jump on the bandwagon with the developers who are likely to invest in the region.

This rail line project is certain to give a public transport boost to our growing eastern & south-eastern suburbs. Underground tunnels will run from Bayswater station on the Midland line into Perth airport estate & onto Forrestfield. The station will provide a bus feeder network with parking for up to 2,500 cars. This revitalisation will have a big impact on residents in Forrestfield, and spending on new infrastructure is likely to drive property prices.

Good value

Property valuer, Gavin Hegney, recently reported this new infrastructure could play a crucial role over the next 10 years & could lift property prices as much as 20% in Forrestfield.  He also commented that the key to investing in property was to get in before the new infrastructure had been realised. Once the redevelopment had occurred the value would have already been added. 

Current values

According to Realestate.com.au the current median house price in Forrestfield is $465,000 & the median rent is $410 weekly. RP data figures to July 2015 showed the change in median house price over the last 3 years to be an increase of 26% & over a 5 year period, growth of 22.4%. With the planned infrastructure and improvements around the suburb, the growth is something that is tipped to be maintained.

Lenders Changes

Many lenders have tightened their borrowing criteria in an effort to meet the new Australian Prudential Regulation Authority (APRA) requirements. Now more than ever it’s important to speak with a mortgage broker who is on top of all the lenders moves in this continually changing landscape. From our choice of 26 lenders we’ll find the right home loan or investment loan to suit your needs.

Contact our experienced Mortgage Broker team today. Fill out the form on the top, right hand side of the page, or give us a call today on (08) 6144 3230 and we can help you organise finance.

Posted in: Local community

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