Hi Town of Vic Park Peeps. Do you know you live in one of Perth’s investment hot spots? Recent stats published on real estate portals have shown that Victoria Park is the most searched suburb in Perth for investors.
Supposedly we are “aspirational”, “an upper end middle suburb”, according to the property pundits. Like an episode of Upper Middle Bogan this description of Victoria Park is one dimensional and suggests we are nothing more than a suburb “trying” to be better.
As an investment market and a community our story is so much more involved.
We have a strong rental draw in the Town for a variety of reasons. Superb proximity to the CBD, equals cheap convenient near city living. Curtin University provides a pool of tenants that is not always understood. Post Graduate students and academic staff, often from overseas, with children, find the apartment accommodation on King George Street and surrounds particularly appealing.
These complexes offer not only good value but importantly, ensure that their children are in the Victoria Park Primary School zone (one of the most sought after public primary schools in WA). FIFO workers lease here because of the suburb’s central nature. Close to the airport and with plenty of lifestyle options along the buzzing cafe strip. Live in Vic Park and you can virtually do away with a car. Well serviced by trains and buses and walking distance to shops and services.
To complement the broad demographic of the rental draw we have an incredibly diverse pool of housing stock. This is not a homogeneous suburb of generic project homes – 4 beds, 2 baths with a theatre room, nor is it some soul-less Wisteria Lane of magaziny perfection and picture perfect trophy wives held together in lycra courtesy of lululemon. We have the broad gamut of homes from 1 bedroom bolt holes to sprawling federation family homes on quarter acres and everything in between.
The real story for our Town is what I see daily – that there is “aspiration”. But it’s an aspiration to stay put, not to treat Vic Park as a stepping stone to elsewhere. Buyer activity is about having another property in Victoria Park. Investors know they are on a good thing, as more often than not, they already live in the area.
Derek Baston
