PropertyESP

Making sense of property

Apartments transform suburbs - and for the better!

Apartments transform suburbs - and for the better!

With the 2016 census just released PropertyESP took a look at 3 suburbs that have been transformed by apartment developments to see what other changes to the suburb this had brought. East Perth – originally an industrial suburb, EPRA (now MRA) was established in 1991 to redevelop and urbanise the suburb. It did so with the development of Claisebrook Village, with introduced 1450 new dwellings as well as retail and commercial properties on the site of the former East Perth G

What are Perth's top performing apartment suburbs?

Burswood premium continues

Burswood premium continues

PropertyESP will be releasing a media statement this week after examining the Burswood apartment market from 2013-2017. While overall the median price for apartments in this locale has grown by 11% from $700,000 to $780,000, it is the fact that this growth has occurred across all bedroom configurations that makes it even more interesting. One bedroom increased its median price point by 6% in these four years, two bedroom 17%, three bedroom 14.5% and four bedroom 8%. This con

Night time economy part of WA’s future

Night time economy part of WA’s future

With all the inner city development occurring, a colleague of PropertyESP recently attended the Australian Night Time Economy (NTE) conference in Melbourne. This conference dealt with the fact that the night time economy, which for so long has been associated with bars, restaurants and adult entertainment in fact was evolving and in the UK this economy represented $66 billion in trade alone (or 6% of GDP). Closer to home, Brisbane’s NTE grew by 25.2% from 2009-2014 from $4.97

Desire for East Perth to gain 24/7 heartbeat

Desire for East Perth to gain 24/7 heartbeat

Samantha Reece recently attended the East Perth session of the Cities Summit that has been co-ordinated by Member for Perth John Carey. Over 60 people attended this session which comprised of businesses, developers, residents and interested parties. Quite predictably the session dealt with the areas strengths, its problems and what the community would like to see occur. East Perth was liked because of its walkability, the gardens and open spaces, Claisebrook Cove and the fact

Perth land prices most affordable nationwide – but lack of variety is our downfall

Perth land prices most affordable nationwide – but lack of variety is our downfall

Samantha Reece, Director of PropertyESP recently attended the UDIA lunch with Colin Keane of Research 4 and then participated with the panel discussion alongside David Cresp (Urbis) and Gavin Hegney. Certainly Colin’s presentation was somewhat telling of Perth’s current status for land sales. While Perth peaked in 2013 with 1078 lot sales per calendar month. In 2016 our underlying demand for land is now 637 lots per calendar month and actual sales are 478. However there are

Perth still has $400 million of redevelopment in the pipeline

Perth still has $400 million of redevelopment in the pipeline

Samantha Reece recently attended the Property Education Foundation's (PEF) Retail briefing with representatives from Westfield (Kate Holsgrove), Perron Group (Andrew Byars) and Vicinity (Andrew Hall). And while Carousel, Cockburn Central and Morley Galleria are all poised for redevelopment - Perth CBD is also looking to undergo a major spruce up. Jim Tsagalis, Director Lease Equity outlined a number of upcoming projects that would transform the City of Perth including Forrest

Coastal living the new black

Coastal living the new black

Despite the resistance by coastal suburbs to welcome apartment living into their community – the research from the WA Apartment Advocacy has clearly shown that this status is going to have to change – and soon. Of the 155 apartment owner occupiers surveyed, 15% had been living in a coastal location before then moving into their apartment (19% living on the coast). However when asked where they would choose to live next time – 70% stated an apartment and 49% stated a coastal

Flight to bigger apartments evident

Flight to bigger apartments evident

The first poll research of its kind in WA, with 268 apartment residents (owner occupiers and renters) has shown a real appetite for larger apartments. The WA Apartment Advocacy (WAAA) data has demonstrated that 35% of renters moved from a two bedroom and 26% from three bedroom properties into one (35%) and two (34%) bedroom apartments. But asked what would they move into next, 48% said two bedroom and 38% indicated three bedroom properties. This was mirrored by the owner occ

Finally East Coast recognises Perth market upswing

Finally East Coast recognises Perth market upswing

Today two East Coast companies, CoreLogic and Moody’s, publicly declared that the worst of Perth’s property market was behind us and they predicted 3% capital growth for houses and 5.6% for apartments over the forthcoming 12 months. Now for some time PropertyESP has been blogging about the upswing in Perth property prices and especially with apartments. That’s because we look at the micro while others look at the macro. For example in Scarborough if you purchased a 3 bedroom

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