|
|
|
AUCTION RESULTS for week ending 21 March 2021
Full individual auction results can be found on our website:
AUCTION LISTINGS* for week ending 28 March 2021
* The above counts of auctions represent most recent known auction dates for the coming week.
DISTRESSED PROPERTY OF THE WEEK
32/20 ROWE AVENUE, RIVERDALE, WA 6103
The price has been reduced on this modern apartment in Riverdale, Perth, which boasts a convenient location and offers resort-style living. Rivervale is situated near the Swan River, 5kms from the Perth CBD, with convenient access to public transport, shopping, dining and entertainment amenities.
The apartment features an open-plan living area, two good-sized bedrooms, ample storage and two bathrooms. The kitchen would please any chef, with glass cooktop, stone benches, Bosch dishwasher and ample storage space. Fine cooking conditions indeed. For the fitness fanatic, there is a fully equipped gym, a 12.5-metre pool, and a cabana with a barbeque area so you can entertain by the pool or cool off on a hot night.
But is the apartment a good investment? A similar sized apartment in the same building is currently for sale at around $480,000 so the price on this property is well below that. Asking prices for 2-bedroom units in postcode 6103 over the 12 months to 23 March are around 6% lower. However, property listings have been falling in recent months, which could take the downward pressure off prices. You can check recent sales in Riverdale here.
More good news is that asking rents for two-bedroom apartments are rising rapidly in 6103, up 23.3% over the year to 20 March. The vacancy rate is just 0.8% and the gross rental yield on 2-bedroom units is a generous 5.7%. Weekly rental listings are falling so we could see sustained strong rental growth in the area.
You can monitor this market with SQM Research’s free property data. Also, consider the SQM Property Explorer product for more in-depth data and property price estimator.
SQM RATINGS NEWSLETTER
Did you know that SQM Research doesn’t only provide residential property data, we also provide research on all asset classes. We have data and analytics on over 10,000 funds in Australia. To find out more and to subscribe to our Fund Data tool click here.
If you would like to subscribe to our Ratings Newsletter, click here. The newsletter provides regular updates on all funds including ratings changes and media releases, and valuable Insights into the point of view of our analysts on a variety of ratings research related topics. And it’s completely free!
|
|
|
|
|
|
|