The Precinct – Mount Pleasant has a number of unique benefits namely:
- High Owner Occupier Ratio
- Newly completed development
- Low Strata Fees
- High rental demand
The uniquely high ratio of Owner-Occupiers within a development has, in the past, shown to preserve capital values and generate higher rental income.
The Strata Fees are low due to the technology within the building and the overall quality of the development. The development has been in operation for over a year so the risk of any ‘surprise rise in fees over the first’ is over.
The Precinct in located in the heart of the Canning Bridge area and is currently undergoing a revitalisation thank to the City of Melville’s adopted Canning Bridge Activity Centre Plan (LINK).
The low level of rental vacancy has been well published, however, what’s not well advertised in the differential in rental income.
REIWA data for the period of Oct- Dec ’20 shows that the average 1,2, & 3 Bed Metro income was $310, $363, and $410 per week respectively. However, in the Mount Pleasant area the average 1,2, & 3 Bed Metro income was $460, $550, and $850 per week respectively. This represents an increase to your rental income of between 48% and 107% depending on the configuration of your unit.
Immediate Exposure to the market having bought a “New Property”
Whilst there are many developments that are being ‘sold of the plan’ the future income and interest costs are effectively unknown. The Precinct presents the opportunity to:
- Buy now and have immediate exposure to the property market &
- Lock in your income and interest expense.