Just 6 kilometers off to the northeast of Perth’s Central Business District lies Bayswater, a small yet quirky and fun residential suburb to the north of the Swan River. This small suburb covers just 10 square kilometers , and is mostly composed of residential housing, with bits of industrial areas to the suburb’s eastern parts.
Bayswater is divided into the eastern and western portions by the Tonkin Highway, and the suburb streets are mostly in grid form which are visible remnants of its rectangular ribbon grants from its past. The market in Bayswater real estate might be under the radar for most, but surely the suburb if making up for it in terms of options and affordability in the vicinity of the nearest central business district.
Real Estate in Bayswater: By the Numbers
Bayswater attracts people of all ages, independents and budding families, young and old. Buying a house in Bayswater, one will enjoy the relatively quiet atmosphere as well as the welcoming local community. This 10 square kilometer suburb houses just over 14,000 residents as of the last census. This is a high number compared to the data of the last twenty years, a little higher than 2013’s 13,525 total, 12,152 from the 2006 census, and the 11,303 coming from the 2001 census. The steady increase in its residents generate the demand for rentals and property purchases, with professionals from the central business district opting to plant roots here instead of the busy inner-city.
While the state and the country currently has median incomes of $1,595 and $1,438 respectively, Bayswater residents average about $1,705, which is visibly higher. The suburb also has a median age of 38 compared to the state’s average of 36.
Currently, the price of a standard real estate in Bayswater stands at $600,000. A typical 2-bedroom home costs $543,500, while the bigger 3-bedroom abode is at $550,000. A beautiful 4-bedroom home is available at $670,000 in the minimum. The current median house price was based on the sales of the past 12 months, which is 190 in total. In the past 5 years, the median house price has increased by at least 5.7%, amounting to an annual growth rate total of 1.1%. Rent is currently at $350 per week in average, with the 2-bedroom houses available at $290, 3-bedroom houses at $350, and the 4-bedroom houses available at $450 per week.
The buyer’s demands are high in the market, with 355 visits per property as compared to the Western Australian state average of just 211 visits. The demand for rent in the area is average.
(Data from Realestate.com.au)
Why Choose Bayswater Real Estate
If you are looking to find a home just a drive away from the noises and hassles of the Perth Central Business District, then choosing Bayswater is for you. The area is full of heritage homes and remnants of the 1980s suburbia residences partnered with the affluent contemporary homes lined up in the streets.
Families, couples, and singles of all ages flock this suburb, all wanting to have a relaxed lifestyle just several train stops away from the city. Affordability and quiet is the name of the game here, and if you are looking for a place to rest and catch your breath, then a real estate property in Bayswater will be the perfect choice for you!
Other States in Australia
Other locations in Australia are equally as desirable as the Western Australia. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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