Suburb snapshot: Yokine
Yokine definitely has strong fundamentals and with the prospect of the new light rail system, it has strong potential for capital growth.
Yokine is an established residential suburb around 6km from the Perth CBD and part of the City of Stirling. It neighbours Nollamara to the north, Dianella to the east, Inglewood and Menora/Coolbinia to the south, and Tuart Hill and Joondanna to the west.
The suburb was mostly established during the post-war years, particularly from the 1950s to the 1970s.
Today, it’s made up of a range of property types including new homes, medium-density duplexes and villas, older detached housing, entry level units and development sites, with a median house price of around $600,000. Compared to the Perth average, it has a high proportion of renters.
The suburb provides families with plenty of education options, both public and private, and there are numerous shopping precincts including the strangely-named Dog Swamp Shopping Centre, and Flinders Square Shopping Centre. The Mount Lawley coffee strip is also close by.
Yokine is a very green suburb with many parks and a fantastic golf course. The largest park is the popular Yokine Reserve, which incorporates lawn bowling greens, sports ovals, tennis courts and a community recreation centre. The playground within the reserve recently received a major multi-million-dollar upgrade making it one of the best in Perth.
Yokine offers investors development options due to favourable zoning. It is common for older houses to be knocked down and the land subdivided to accommodate new villas and townhouses. These sites typically sell in the high $600,000s.
Yokine is serviced by many bus routes but it has no connection to the rail network. However, this may change with plans for Perth’s first light rail system, called MAX, which will provide residents of Yokine with direct rail access to the CBD. This massive project could benefit the suburb greatly.
Another positive development is the City of Stirling’s plans to develop the Stirling City Centre and make it a large employment area within Perth, which will benefit surrounding areas.
Yokine definitely has strong fundamentals and with the prospect of the new light rail system and the gradual rejuvenation of the suburb, it has strong potential for capital growth, particularly at the cheaper end of the property market.
|Growth rate (1 year average)||0.0%|
|Growth rate (5 year average)||1.0%|
|Growth rate (10 year average)||9.5%|
|Median age of residents||37|
|Median weekly household income||1206|
|Percentage of rentals||42%|
Source: REIWA.com.au, January 2013