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SOLID GROUND: Apartments at The Springs in Rivervale are proving a solid investment over the short-term. Photo: Attila Csaszar

Apartment prices resilient at The Springs

Prices in one of Perth’s newest residential enclaves, The Springs at Rivervale, are holding value better than apartments across the wider Perth metropolitan area, despite concerns of excess supply restraining capital growth.

Some of the city’s most prominent developers have clamoured to get on board at The Springs, including Finbar Group, Psaros, BGC Development, Blackburne and Edge Visionary Living, since the development was launched by state government agency LandCorp in 2011.

The area has also spawned the development of a 4.5-star Aloft Hotel, that brand’s first foray into Australia, as well as a 10,337 square metre office building, which will become the administrative headquarters of hardware retailer Bunnings.

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Comments

Kewdale
I have bought an apartment with BGC through Blankburne in the Tribeca East development. I know the ALoft hotel will have some restaurants and cafe's to offer which is a plus but I don't think its quite enough. I personally think to top this wonderful enclave off is to have another couple of cafe's down by the water. There is more then enough room to do so, without upsetting the beautiful natural enviroment. At the moment the walking track down by the water is quite dark and a little daunting. Why not open it up a little and make it a little more attractive. With the little jetty and the beautiful view out toward the city and the new stadium its a no brainer. This will definately bring in more sales for the developers and top off an already beautiful location.

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Lots expected to be completed for sale, current financial year

3rd↓Satterley PropertyNFP
4th-LWP Property GroupNFP
5th↑LandCorp582
6th↑Cedar Woods Properties500
7th-Urban Quarter275
39 property - land developers ranked by number of WA lots expected to be completed for sale, current financial year

Total revenue

10th↑Pilbara Ports Authority$422.6m
11th↑Racing and Wagering Western Australia$337.9m
12th↓LandCorp$325.0m
13th-Fremantle Ports$214.1m
14th↑Metropolitan Redevelopment Authority$169.1m
29 state government businesses ranked by total revenue - this year

Number of Employees

Property - (Built-form) Developers

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