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Suburb Snapshot: Redcliff

Monday, 10th Oct 2011
Categories: Newsletter

housing

Redcliffe is an established suburb in Perth located approximately 10km east of the Perth CBD.

It’s situated near the suburbs of Belmont, Ascot and Cloverdale and enjoys excellent proximity to the city and airport, as well as being just minutes from the Swan River. The suburb is serviced by key transportation routes such as Great Eastern Highway, Tonkin Highway and the Graham Farmer Freeway, and is ideally located by short drive to commercial and industrial areas in Kewdale and Welshpool for employment. Redcliffe also has access to a variety of amenities such as local primary and high schools, parks, a cinema, and major shopping centre, Belmont Forum.

Over the past 10-15 years Redcliffe has undergone quite a transformation, with a number of developments changing what was once a suburb dominated by tired public housing into a desirable and well-maintained community. Popular estates such as ‘Flemington Chase’ and ‘Ascot Gardens’ were developed, and today much of the older parts are continuing to undergo rejuvenation with a few property development opportunities still available. Redcliffe tends to be popular with property investors, both for development opportunities as well as good rental yields (thanks in part to the consistent demand from fly-in fly-out workers who prefer a property close to the airport). It is also an area that is traditionally blue-collar; however with its proximity to the CBD and Swan River that is slowly changing with an increase in demand from young professionals and families.

Properties in Redcliffe generally fall into one of three categories – older undeveloped or partly renovated properties towards the northern end of the suburb (typically 50’s/60’s style on large land), newer strata-titled villas in the older northern end of the suburb (created from private subdivision), and newer homes and villas through the southern part built in the 90’s and 2000’s which are located in the developed estates.

Prices start from the low $300,000’s for small units and homes in less desired pockets. Between $350,000 – $400,000 are 3×1 properties on blocks under 500sqm (generally villas/units), while in the low $400,000’s are a mix of good size 3×2 properties and the occasional smaller 4×2 property. Most 4×2’s, depending on their location, age and land size, are generally priced from $450,000 – $550,000, as are older properties suitable for redevelopment.  A handful of properties are found above $550,000 which include new and near new properties, larger homes, and larger development opportunities.  Rents generally fall between $400 – $500 per week.

 

Key Statistics

 

Growth rate (1 year average) -0.6%
Growth rate (5 year average) 6.1%
Growth rate (10 year average) 10.9%
Population 4,280
Median age of residents 34
Median weekly household income $975
Percentage of rentals 38%

 

Source: REIWA.com.au, September 2011.