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Suburb Snapshot – Dianella

Monday, 25th Apr 2011
Categories: Newsletter

rising market

 

Dianella is an established suburb located approximately 9km north-east of the Perth CBD in Western Australia

Although not situated along the main northern thoroughfare of the Mitchell Freeway, it enjoys excellent transportation infrastructure with Wanneroo Road, Morley Drive and Tonkin Highway, as well as Alexander Drive which offers a direct route straight into the Perth CBD. It also has a number of frequent buses running throughout the suburb.

Dianella possesses a number of amenities including a local plaza shopping centre, numerous primary schools, two high schools, a number of small parks and a large regional open space (in fact, approximately 15% of the locality is dedicated to green open space). It is also just a short drive to other nearby conveniences including a cinema, university, golf course, and two major shopping centers. Neighboring suburbs include Morley, Yokine, Inglewood and Mirrabooka. Dianella is also home to the third largest Jewish community in Australia.

Development in Dianella started to take shape in the late 1950’s to early 1960’s. The area is mainly low-medium residential with a broad mix of housing including old homes on full 600-800sqm blocks, both old and new villas on subdivided land, and newer mansion-style homes in more recently developed areas. Although there are still opportunities to reap rewards through subdivision, most of that kind of development has already been done which has also limited the supply of land available. There are still plenty of homes on the market requiring renovation. The suburb is also likely to benefit from the Local Area Strategy being rolled out by the City of Stirling council which aims to instigate actions and guide decisions that will work towards the realisation of the community’s vision for the future of the suburb.

There are some distinct areas in Dianella. In the southern part of the suburb, there is a pocket referred to by locals and real estate agents as the ‘Golden Triangle’. This area is defined as being between Morley Drive, Alexander Drive, and Cresswell Road, and is favoured because it enjoys elevated views and is in high demand. In the northern part of the suburb, there are sought after estates including Dress Circle, St Andrews, and Montclair, all of which were developed much later in the suburb’s history and are generally full of more modern single and double storey homes.

Prices in Dianella are very diverse. Units in small apartment blocks are marketed near the $250,000 mark and villas for between $350,000 – $450,000 (although newly built and larger ones can go for as much as $500,000 – $600,000). Freestanding homes start around $400,000 for smaller and unrenovated properties through to $700,000 or so for larger, better quality homes on more sizeable land. Properties in the ‘Golden Triangle’ or the newer estates do command a premium and typically start from around $700,000, but can go for well over a million dollars. For many, Dianella can be more affordable than nearby suburbs like Yokine, Inglewood and other inner city areas, and is generally perceived as being undervalued. For investors, there are plenty of opportunities to buy at a budget and these lower end properties tend to have better rental yields as well. Rents typically fetch between $300 – $450 per week depending on the specifications of the property.

Dianella is viewed as a quiet and safe locality and a great place for young families, close to a wide range of conveniences. In early 2010 Dianella was also voted as WA’s best suburb to live in according to a survey run by realestate.com.au.

Key Statistics

Growth rate (1 year average)< 9.6%
Growth rate (5 year average)< 10.6%
Growth rate (10 year average) 11.9%
Population 21,539
Median age of residents 40
Median weekly household income $1,018
Percentage of rentals 24%

Source: REIWA.com.au, March 2011.