Home Loan Specialist and Mortgage Broker in West Lakes
Mortgage Choice - Mike Hannaford - Home Loan Specialists and Mortgage Brokers in West Lakes
To arrange a Home Loan Review call Mike on 0430 222 616 - or email Mike Here:
Learn about the Macro and Local Property Market Trends here:
National property maket - Update (April 2023) by clicking this link National Property Market
Sth Australian Property Update (April 2023) by clicking this link SA Property Market Update
West Lakes property market
Currently, West Lakes has 20 properties available for rent and 29 properties for sale. Median property prices over the last year range from $857,500 for houses to $550,000 for units. If you are looking for an investment property, consider houses in West Lakes rent out for $575 PW with an annual rental yield of 4.2% and units rent for $495 PW with a rental yield of 4.7%.
Based on five years of sales, West Lakes has seen a compound growth rate of -5.2% for houses and -5.4% for units.
West Lakes Shore property market
Currently, West Lakes Shore has 6 properties available for rent and 11 properties for sale. Median sold prices over the last year is $932,500 for houses. If you are looking for an investment property, consider houses in West Lakes Shore rent out for $692 PW with an annual rental yield of 3.4% and units rent for $470 PW with a rental yield of 4.3%.
Based on five years of sales, West Lakes Shore has seen a compound growth rate of 3.3% for houses.
West Lakes is approximately 4.4 square kilometres. It has 43 parks covering nearly 6.1% of total area. The population of West Lakes in 2011 was 5,728 people. By 2016 the population was 5,781 showing a population growth of 0.9%.
West Lakes Shore is just 1.8 square kilometres. It has 33 parks covering nearly 17.1% of total area. The population of West Lakes Shore in 2011 was 2,972 people. In 2016 the population was 3,105, a population growth of 4.5%.
The predominant age group in West Lakes and West Lakes Shore is 60-69 years.
Households in West Lakes and West Lakes Shore are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Lakes Shore work in a professional occupation. In 2011, 80.2% of the homes in West Lakes Shore were owner-occupied compared with 79.8% in 2016.
Looking to invest or refinance? To arrange a Home Loan Review call Mike on 0430 222 616 - or email Mike Here:
| Key Market Data | House | Unit |
| Median price | 965,000 | 585,000 |
| Quarterly growth | -5.48 | +5.79 |
| 12-month growth | +1.31 | +14.93 |
| Average annual growth | +6.25 | +5.29 |
| Weekly median rent | 695 | 470 |
| Gross rental yield | 3.52 | 4.54 |
| Number of Sales (12m) | 66 | 53 |
| Avg. Days on Market (12m) | 38 | 50 |
| Key Demographics | 2011 | 2016 |
| Total population | 5,728 | 5,781 |
| Population change (5y) | -1.34 | +0.90 |
| Median household income (p/w) | 1,170 | 1,309 |
| Household income change (5y) | +5.98 | +11.88 |
| Median age of persons | 52 | 53 |
To arrange a Home Loan Review call Mike on 0430 222 616 - or email Mike Here:
Start your home loan journey today
Calculate your borrowing power
Before you start shopping around for a home or investment property, it’s a good idea to learn what your borrowing power is. In other words, how much you can afford to borrow.
Watch our short video to learn more.
If you would like to try our home loan calculators to get an approximate borrowing capacity, click the link below and follow the steps. If you have any questions, please don't hesitate to get in touch with our team.
Find out how much you can borrow!
Learn more about the home loan process
If you would like to do some of your own research first, make sure you check out our home loan resources below!
To arrange a Home Loan Review call Mike on 0430 222 616 - or email Mike Here:
We can also help you with
- Home Purchases
- Investment Property loans
- Holiday Homes
- Debt Consolidation
- Home Loan Refiancing
- Debt Restructuring
- SMSF (Self Managed Super Fund) Lending
- Asset Finance
- Car Loans
- Personal Loan
- Small Business Lending
- New Home and Construction Lending
