Our valued client has exemplified what can be accomplished in a thriving market with the right strategy and support. We celebrated Joytsna’s triumphant acquisition in the heart of Metro Perth, a property nestled within a community predominantly occupied by homeowners.
The client’s journey to this remarkable investment was not without its challenges. As a close family member of the IPG family, the stakes were high. The search for the perfect property had its ups and downs, with multiple due diligence processes leading to this successful outcome. Interestingly, this property was the last available in its suburb, a testament to the area’s growth.
Joytsna, a high-income earner along with her husband, had prior experience in property investment but faced setbacks and limited growth in two properties they had acquired in Sydney. Understandably cautious, they sought professional guidance to structure their property portfolio effectively.
The transformation began with the sale of an underperforming apartment, making way for a fresh start. She also upgraded her principal place of residence, a move that saw her property’s value rise significantly in a short time. With the refinance funds from her principal residence, she invested in a better-performing property within just four months. Joytsna is now on the path to acquiring her third property by early 2024.
The client secured this property for $450,000, a strategic move that has already started to yield impressive results. With a current tenancy generating $550 per week, the property boasts a solid 6.36% yield. Similar properties in the area are selling at an average of $516,000, indicating the potential for capital growth. Spanning 679 sqm and zoned R25, this property offers exciting prospects for dual income setups or the potential for a 2-unit development, which could push the yield to an impressive 7.6%.
Seville Grove, where the investment thrives, is supported by compelling data:
• High Demand: A demand-supply ratio of 62 indicates a strong demand for properties, surpassing the available supply.
• Swift Transactions: Properties in Seville Grove spend an average of only 37 days on the market, a significant improvement from the previous 87-day average.
• Limited Supply: With less than 0.61% of properties currently on the market, Seville Grove reflects limited supply.
• Renter Appeal: The area boasts a robust rental market, with renters making up 23.5% of the population.
• Growing Interest: Online search interest exceeds 300 and continues to rise, underlining the suburb’s popularity.
Our highly regarded client has not only leveraged the potential for significant capital growth but has also devised a plan to greatly improve rental yields, thereby ensuring the security of their financial future.
