Sunday, June 16, 2024

Perth’s worst suburb now among the nation’s 10 best

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Long considered one of Perth’s worst suburbs to live in, Balga is now enjoying a meteoric rise to the top after making a national list of the 10 best suburbs to invest in.

The suburb – designed by the State Housing Commission in the 1950s – has been recognised for its high capital growth and strong rental yields, which are being driven by buyers who once shunned the maligned northern suburb.

The Pulse Report, by Hotspotting and property depreciating experts Washington Brown, noted Balga had a 22 per cent jump in both its median house price and median house rent in 12 months and a high median rental yield of 6.4 per cent – driven by a critically low vacancy rate of 0.1 per cent.

“One of the major infrastructure projects in Balga is the $47.9 million upgrade of Balga TAFE, which is due for completion at the end of this year,” Washington Brown Director Tyron Hyde said.

It joins Armadale on the list, another maligned suburb that has become a regular fixture on national investor hotspot lists for the same reasons.

First-homebuyer Ethan Bayliss, who initially avoided Balga because of its notoriously bad reputation, eventually settled on a villa there after being priced out of more desirable suburbs.

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