27/04/1999 - 22:00

Two suburbs in vanguard

27/04/1999 - 22:00

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TWO Perth inner suburbs are at the vanguard of the strata property boom, providing up to 15 per cent capital growth during the past year.

Two suburbs in vanguard
TWO Perth inner suburbs are at the vanguard of the strata property boom, providing up to 15 per cent capital growth during the past year.

Commodore Homes general manager Anthony Kinder said five near city suburbs had achieved price increases of more than 10 per cent over the past year where strata developments were now “very popular”.

Leading the strata property market are Osborne Park and Doubleview, with capital growth in the past year of 15 per cent for the former and 13.2 per cent for the latter.

Other suburbs achieving strong strata development include Palmyra with 12.5 per cent growth, Kensington with 11.90 per cent and Yokine with 10 per cent.

“Buying or building a strata property is now achieving a strong return in these suburbs because of near-record demand for rental properties which has seen the rental vacancy rate fall to less than 2.8 per cent,” Mr Kinder said.

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