Reasons to Invest in an Apartment in Mount Pleasant

Highly regarded as one of Perth’s most affluent suburbs, Mount Pleasant presents a prime opportunity to invest in a premium riverside area. Mount Pleasant is located in the leafy City of Melville, boasting expansive river views, exceptional local attractions and a family-oriented atmosphere. Mount Pleasant has unsurprisingly cemented itself as a renter’s favourite.

In this article, we delve into why this aptly named suburb presents such exceptional apartment investment prospects, and how you can secure your own in the heart of coveted Mount Pleasant.

Beloved Rental Location With incredible Amenities

The Mount Pleasant locale is a long-time favourite of families and couples, seeking a calm and upscale riverside environment. The area has remained one of Perth’s most desirable suburbs, with data recording an average of 524 prospective buyer visits per property for sale, surpassing the state average of 447.

With an array of retail, dining and entertainment precincts, prestigious schooling institutions and seamless connectivity to public transportation, it’s no wonder Mount Pleasant remains a sought-after rental area.

Phenomenally Low Vacancy Rates

Vacancy rates are among investors’ favoured tools to determine if an investment property is a viable prospect. The vacancy rate of an area indicates the percentage of rental properties that are currently vacant. According to respected financial institute SQM Research, an astonishingly low vacancy rate of 0.7% was recorded in the 6153 postcode, as of November 2021. Many property experts are in agreeance that a vacancy rate below 2% can be considered a “landlord’s market”, indicating high demand and a very favourable position for investors.

Capital Growth Potential

A record of strong historical price growth is a telling sign of a suburb’s growing popularity, and hence potential for future capital growth. The Perth property market has been booming in the past year, with data from real estate agency REIWA determining housing values in the Perth metro region have grown 8.2% over 12 months.

As impressive as the wider Perth growth has been, Mount Pleasant has outshone average price growth with a rise in values of 12% in the past year. The suburb has an admirable history, topping the REIWA chart in 2019 for a 26% price growth, leaving Mount Pleasant poised to deliver rewarding growth results in future. And with apartments at Norup + Wilson’s The Precinct on offer for competitively low 2020 prices, further potential for exceptional capital growth is unlocked.

Rising Weekly Rents

Weekly rent prices are perhaps one of the most important factors for investors to consider before adding a suburb to their investment portfolio.

SQM data indicates weekly rents for units in the 6153 postcode have been on a promising trajectory, with a rise of 9.8% over the past three years. Weekly rents have sat consistently above $500 for the past 8 months, growing to $543 in December 2021.

Favourable Rental Yields

Rental yields provide a useful insight into how much investors are making from their investment property.

According to SQM Research, the gross rental yield for the 6153 postcode is on the rise and currently is a very favourable 4.5%. As both weekly rents and median values are also growing in Mount Pleasant, the rising rental yield is a very positive indicator that investors will receive great returns on their investment.

Low Maintenance Property

Apartments are an investor’s dream due to their low maintenance nature and often their need for very little improvements. Maintaining a property can have a significant drain on your wallet, energy, and time alike. Choosing to invest in an apartment in Mount Pleasant means your cash flow is less negatively impacted by works on the property, and you and your renter can bask in the peace of a hassle-free apartment.

Owing to the clever design of Mount Pleasant’s newest development, The Precinct, the innovative apartment complex requires very little maintenance. Unlike similar developments, The Precinct is empowered to reduce strata fees significantly thanks to a carefully considered design.

Are You Looking To Secure An Investment Apartment In Stunning Mount Pleasant?

Norup + Wilson’s The Precinct in Mount Pleasant presents a unique opportunity to invest in a brand-new apartment in a coveted riverside location. The spacious boutique apartments boast breathtaking panoramic views, and grant residents exclusive access to premium amenities your tenants will be sure to love.

If you’re looking to add an impressive apartment to your investment portfolio, contact the team at The Precinct in Mount Pleasant to learn more about investing in the brand-new premium riverside development.