Professionals Real Estate 
Professionals offices are finding very strong demand for higher density homes in Perth’s riverside suburbs according to the group’s CEO, Shane Kempton.
Mr Kempton said that baby boomer downsizers were now driving demand for higher density homes in these areas because of low interest rates and rises in property values in the lower end of the property market.
“During recent years, there has been a growing demand for homes in the riverside suburbs of Perth because of the increasing focus on lifestyle amongst property buyers.”
“Riverside living will be given a major boost over the coming decade with major new developments planned for the Belmont race course, Perth foreshore area, Burswood and the eastern entrance to the Perth CBD including the Springs Rivervale.”
“This trend of riverside living is becoming very popular with the baby boomer segment of the housing market with more baby boomers deciding to downsize from a larger family home to an apartment or townhouse that is built to a high specification in a riverside location. As a result of this trend there has been a surge in new building activity of quality apartments and townhouses in riverside locations such as East Perth, Maylands, Rivervale, Ascot, South Perth, Como, Crawley, Applecross and Como.”
“If you are considering buying a home in a riverside suburb, you should consider the following points:”
“There are a number of undervalued riverside suburbs in Perth which have underperformed compared to their long term average capital growth rates. Theses suburbs include Ascot where the average price of a home fell by 2.9% over the past year (year ending march 2014 quarter) even though its long term annual average growth rate is around 9.5%.”
“A property which is located a few streets from the river can be significantly cheaper than a property which is located on the riverfront.”
“Older style units which only need a cosmetic upgrade can be an affordable entry point into a riverside suburb.”
“If you are buying a luxury apartment ‘off the plan’ check the background of the developer to determine if they deliver on the product there are promising. Also check the price of similar properties that have already been constructed to compare prices.”
“North facing properties are always in very high demand because they receive less sunlight during the summer and more sunlight during the winter months.”
“Properties located near large parks are also in strong demand because more people are focusing on improving their health as part of lifestyle trends.”
“If you are buying a property because of the views it offers, check that these views will note be impaired over the long term i.e. the construction of a block of apartments between your home and the river.”
“If the property is located near a road, inspect the property during a peak traffic period to determine the level of noise.”
“Check if there are any upgrades planned for the area i.e. the upgrade of the local hotel or tavern can encourage more people to live in the area as they do not have to travel to socialize,” he said.
