Fremantle continues to perform
Despite the doom and gloom about the Perth property market, PropertyESP keeps finding some good news stories and Fremantle is definitely one of them!
We had a look at apartment sales over the last five years for North Coogee, North Fremantle and South Fremantle.
Firstly sales were consistent for these three suburbs across the past five years with about 80-150 properties changing hands per annum.
Secondly we saw that the one and two bedroom apartments had maintained their value over that time and three bedroom apartments were beginning to show signs of recovery.
So anyone who is waiting for the market to bottom out in Fremantle is going to be waiting for some time!
North Fremantle also outperformed the other two suburbs for property values and this could be related to these properties tending to have ocean or river views and as can be seen from the below graph – ocean/river front is commanding a median price point of approximately $6000/sqm plus.
Rental yields for apartments were also higher than the Perth metro at 4.5%.
While you may be hearing generic news about the Perth property market – there is always value in drilling down – and that is what PropertyESP does best!
PropertyESP will be presenting the findings of the Fremantle sales research at a Mirvac sponsored seminar on Tuesday 9th August at Bib and Tucker from 5.30pm. If you know someone who is looking to buy an apartment in Fremantle – let them know and they can register at firstname.lastname@example.org