The Western Australia border opening has sparked a big rise in investor enquiry for new homes in Perth’s northern coastal estates.
Atlantis Beach and Capricorn Beach Project Director Jarrod Rendell said investors were targeting the Two Rocks and Yanchep communities in surging numbers partly due to Perth’s rental property shortage.
“Astute investors are seeking to capitalise on increasing rents because the opening of the border will put a huge strain on an already undersupplied rental market,” he said.
“Thousands of people have already entered WA since March 3, at a time when there are less than 2500 properties to rent across the Perth metropolitan area.
“The WA resources sector alone requires 40,000 additional workers by mid-2023, with many of them coming from outside the state.
“Investors are also targeting our two estates because new homes are now delivering rental returns around five per cent.”
Mr Rendell said there was strong interest in the estates from both local and interstate investors, especially during the past six months.
“This is because house prices in Perth are less than half those in major eastern state capital cities, such as Sydney and Melbourne, while rental yields are double here,” he said.
“The estates offer an affordable entry price point to build a new home in a prime coastal location in Perth.
“At Atlantis Beach estate, entry-price house and land packages start from $334,900 and at Capricorn Beach estate, they start from $421,200.
“New investment homes also offer investors maximum depreciation benefits.”
The growing investor confidence in Two Rocks is highlighted by local resident Tina Carman, who has bought two investment properties at Atlantis Beach estate over the past two years.
Her first house and land package was completed 18 months ago and the second property is about to be constructed.
“I have been investing in property for 30 years and now is a great time to buy real estate in Two Rocks because it is affordable and there is huge demand for rental properties due to a shortage of housing in Perth,” she said.
“The rental returns are now much higher than I can achieve by investing my money in the bank.
“My properties are located in the community hub precinct and are within easy walking distance to facilities such as medical, childcare and education that are attractive to tenants.
“Overall I believe they will achieve strong capital growth during the long term because of the ongoing investment in the marina area of the township and a surge in people coming to Atlantis Beach once the train line to Yanchep opens, which will dramatically cut travelling time to the city.”
Mr Rendell said both Two Rocks and Yanchep appealed to families because they were located beside existing townships with a high level of infrastructure and offered a quality lifestyle.
For more on house and land packages, as well as land sales, at Atlantis Beach and Capricorn Beach estates, call Abel Property Land Sales Director Damyn Strang on 0434 070 654.