East Perth set to BOOM! 2x1 Apartment - UNDER OFFER
Apartment Sold - EAST PERTH WA
Investment Strategy: Off the Plan
East Perth Predicated Rental Growth: BOOM
East Perth Predicted Price Growth: BALANCED
View the May12 market prediction report here:
Strata Fees: Approximate $1010 pqtr
Unfurnished Rental Estimate: $500-$520pw
View the Vibe Apartment info brochure here:
Designed by award-winning architect Campion Design Group, Vibe Apartments is a modern 8-storey development with a total of 60 apartments in one of Perth’s most prestigious locations. The development has a variety of apartments including 1 bed/1 bath, 2 bed/1 bath and 2 bed/2 bath apartments throughout the development.
Each of these stylish apartments have been designed specifically with inner city living in mind.Boasting functional kitchens, built in robes and choice of multiple interior colour schemes carefully selected by Mellissa Legg Design.
Vibe Apartments offer luxurious resort style facilities for the its residents including lap pool, residents BBQ area, fully equipped gymnasium and, in a first for Perth, an outdoor rooftop theatre and viewing deck with exclusive access to residents.
Positioned in a location that has it all, only moments from the picturesque Swan River, relaxed East Perth cafs, bars and restaurants. It’s clear to see why these architecturally designed apartments with resort style facilities will be the ultimate inner city investment both financially and lifestyle!
The Investment- (Demand and Supply)
The Inner City Market appears to be recovering much faster from the GFC than the remainder of the Perth property market. With an enormous surge in rental levels recently, we have seen investors eagerly re-entering the market to take advantage of the high rental returns currently being achieved. So strong is this market, that properties available for sale since the GFC have fallen sharply, declining by over 76%.
Stock on the market across all types has fallen by over two thirds, with One bedroom apartments seeing a 85% reduction. This dramatic reduction in stock has put the market back in equilibrium and is beginning to exert upward pressure on prices, due largely to cashed up investors from WA ‘s resources sector.
This reduction in available stock is also coinciding with a sharp fall in new property supply. Chart 2 shows how supply levels over 2012 and 2013 are well below the historical average being added each year. When this is considered in comparison to the Inner City’s massive population growth history, (averaging 10.1% p.a. compared
to Greater Perth’s 2.1% p.a), this lack of supply is certain to be met with an excess of demand.
Such a demand and supply disparity is likely to lead to significant pressure on prices over coming years; especially with WA ‘s strong potential for increases in personal income (through the mining boom).
This, coupled with the exceptionally strong rental market in the Inner City, makes it appear a standout investment market going forward.
View the Vibe info brochure here:
Inquire below for a full info pack containing details of available apartment, current price list, the location, lifestyle, apartment specifications, floor plans. Or Give Jarrad Mahon a call on 0403 659 753.