No matter how inexperienced you may be at purchasing property you must have heard the old adage... location location! And they really don’t come any better than Craigie…especially in this price range!
Developed in the early 1970’s (on what was considered the fringes of Perth’s outer northern corridor at the time) Craigie is now one of the last bastilles of affordable property within 2kms of pristine beaches: 22kms from Perth GPO and within easy access of amenities such as Whitford City, Lakeside Joondalup, Karrinyup city, Craigie leisure centre & public transport.
Surrounded by more expensive suburbs on all sides: Hillarys: Kallaroo & Mullaloo the west and Kingsley: Edgewater & Woodvale to the east Craigie has always represented good value for money and has enjoyed an average growth rate of 13.8% over the past 10 years which is higher than the Perth metro average of 11.8% during the same time period.
Here are some real examples of properties that I have recently resold for some happy investors:-
44 Deyoung Road, Craigie
3bed 1bth investment property resold with no improvements
Sold in January 1997 for $97,000
Resold in March 2011 for $380,000
19 Eddystone Ave, Craigie
4bed 1bth home sold with no improvements
Sold in January 2001 for $110,000
Resold in June 2010 for $405,000
10 Macedon place, Craigie
3bed 1bth home resold with no improvements
Sold in October 01 for $126,000
Resold in July 2004 for $205,000
Resold in February 2011 for $375,000
19 Rosette close, Craigie
4bed 1bth home with ducted a/c & workshop
Sold in November 1996 for $99,000
Resold in July 2004 for $226,000
Resold in December 2010 for $415,000
As well as offering a great location and higher than average growth rates Craigie also has plenty of other assets to offer would be investors, speculators and homeowners alike, including:
- Low vacancy rates for investors
- Potential rezoning under city of Joondalup draft local housing strategy
(This proposal only applies to properties on the west side of Eddystone ave & is a proposal not a guarantee)
- Potential new housing development on the site of the old Craigie high School
- An abundance of Parks & reserves
- Craigie leisure centre
- Craigie plaza: tavern & medical centre
- Easy access to freeway & train stations
- Make the most ofPerth’s coastal lifestyle with easy access to Mullaloo beach and Sorrento Quay
Tell us what you think of the investment opportunities that you see in Craigie for the future in the comments below.