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Piara Waters – Get The Inside Scoop On This Underrated Real Estate Opportunity
Heard much about Piara Waters before? If not, then there’s no need to be embarrassed. This quiet achiever of a suburb has flown under the radar for quite a long time – that is until now! With construction complete on our sales home for Mirvac’s Madox Piara Waters estate, we figured it was high time we let people in on just how fantastic this area is for those looking to build a new home or investment property in one of the city’s best developments. Location, lifestyle, plenty of growth & investment potential – it ticks all of the right boxes!
As with any real estate prospect, location is everything. Being less than half and hour drive from the Perth CBD puts Piara Waters in a very highly desirable bracket in a city that continues to grow further and further outwards. Factor in easy access to Cockburn Central, Murdoch University, the Canning Vale commercial hub and the expanding Forrestdale Business Park and you can see that it’s going to remain an appealing location to a wide range of people for a long while yet. A high percentage of both professionals and tradespersons & technicians already living in the area backs this up.
Close proximity to a number of major employment centres like The CBD, City of Armadale, City of Canning, Cockburn Central and a number of State Government-led activity centre projects also means that Piara Waters is the perfect location for an investment property. People that work in these areas are always going to need places close by to rent after all. The fact strong employment growth in all of these areas is predicted over the next decade only serves to increase the enticing nature of such an investment opportunity.
Whether you’re looking to live there yourself or for an investment property location, lifestyle is always a huge factor when choosing where to build. Luckily enough, Piara Waters is able to offer residents a way of life that has loads of appealing aspects.
Active & Outgoing
Seeing as Perth is blessed with an abundance of good weather, areas like Piara Waters enable inhabitants to make the most of an active and outgoing lifestyle. The Piara Nature Reserve and nearby Forrestdale Lake Nature Reserve are ideal for those that like getting out & about in the great outdoors and keeping in touch with nature.
If you’re the sporty type then there’s no shortage of ways to keep active too. The Alfred Skeet Oval (home to the Armadale soccer club), The Piara Waters Pavilion (home to the local junior and senior cricket club) and the proposed Piara Waters community and sporting facility all provide plenty of opportunity to get involved.
Shopping, Food & Entertainment
Being only a half an hour from Northbridge and the CBD means you’re never too far away from the action when it comes to shopping, food and entertainment options. However, there is also plenty on offer much closer by should you not wish to schlep all the way into the city. Close proximity to the Harrisdale and Armadale shopping centres means easy access to supermarkets, clothes shops, a variety of restaurants & takeaway joints, hairdressers & nail salons (for when a little bit of pampering is needed) and a cinema.
Having a range of educational institutions on offer is a key factor in any appealing real estate development, which is definitely the case in Piara Waters. With a range of options catering to kindergarten to year twelve, residents can choose to send their children to Harrisdale Primary School, Piara Waters Primary School, Forrestdale Primary School, Carey Baptist College, Harrisdale Senior High School or St John Bosco College. There is also a new primary school proposed for the heart of the Maddox development, so the kids will be able to go to school even closer to home in the future.
Ensuring you get a good return on your investment is always vital when deciding when and where to build. Despite not being that well known, Piara Waters has supported surprisingly strong growth in recent times.
-Capital Returns: median house prices in the area have outperformed the rest of Perth over the last 5 years with median house prices growing 26.2% compared to a 9.3% average across the rest of the city.
-Rental Returns: strong growth in rental demand has underpinned relatively high rental yields in the are compared to other comparably priced suburbs.
-Sales: house sales increased 19.2% in the four years to 2016 and average sales times and vendor discounting rates have historically been lower than Perth averages.
We’re guessing that by now you can see why we think that Piara Waters is so underrated. With the Madox development set to breathe even more life into the area, you’re definitely better off getting in early before word really gets out! Get in touch with us today to learn more about building with us in the area or have a look at our house and land packages here.
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