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Armadale is situated about 28km to the Southeast of Perth. Rising above its reputation as a drug and crime infested suburb, this growing location has changed its fortunes to the point where it has been named in the Australian Property Investor Magazine’s May 2013 edition as a great place to invest.
Specifically, the magazine says “Armadale has the fourth-biggest growth potential in Australia and the best in WA.”
Why has it made this claim?
- Strong rental yields
- Low median house price
- Predicted population increase of 20,000 over the next decade
Mr. Buti, Armadale’s MP, credits the creation of the Armadale Redevelopment Authority and the expansion of the Forrestdale business park with the recovery.
These changes drew first homebuyers and young families – who were searching for more space and affordable prices – into the suburb.
“Mayor Henry Zelones said the suburb’s main business district, shopping opportunities, cinemas and parks had all been overhauled in the past five years. He said the next step was better public transport and more youth programs.”
“Mr Zelone was also hoping to secure a local university campus and a government department in the next 10 years.”
“He said the suburb’s poor reputation was undeserved.”
“Local mum Kim Lewis, who bought a home in Armadale two years ago after renting in the area for five years, said recent refurbishments of streets and parks made it easier to walk with her children Bailey, 4, Brayden, 6, and Kayleigh, six months, after school and in the evening.”
“A lot of people are worried about getting mugged, but I’ve always thought Armadale felt quite cosy,” Mrs Lewis said.
“Lyndall Hanbury, owner of Gelare cafe on Jull St, said the suburb’s unfortunate nickname “Arma-hole” was unwarranted.”
“Armadale gets a bad name from half a dozen families in the area, but we’ve always really liked it,” Mrs Hanbury said.
RPData reports that Armadale is about 22 square km in size, with about 4% of it made up of green space; i.e. 14 parks.
As of 2007 – 53,886
As of 2011 – 65,281 (5.2% per annum increase)
Individuals aged 0-14 years make up the majority.
- Couples with children make up the majority of households.
- Average mortgage repayments range from $1800 to $2400 per month.
- Owner occupied homes made up 63.8% of the population in 2006. In 2011 that number fell to 57.6%.
- The current median sales price is $295,000.
- As of 2011, the median age of residents is 34 years old.
- The ABS reports that as of 2011, the average monthly mortgage repayments were at $1,954 per month.
- Average monthly rental repayments were at $1185 per month.
- Average income approximately $47,500 per annum, as of 2010.
Has a diverse range of industries with a majority of individuals employed in the manufacturing, construction, health care, retail trade, education and mining industries.
The Government of Western Australia has a strong vision for Armadale and surrounding areas that has been set out in the Outer Metropolitan Perth and Peel Sub-Regional Strategy, which as of the time of this writing is still in draft form.
Under 10 Southeast Sub-Region, we find the Government’s plans for Armadale.
“The strategic metropolitan centre in the sub-region is Armadale. In addition to its commercial function, Armadale also provides a range of facilities and services including local government administration offices, government and institutional facilities, major transport infrastructure, regionally significant open spaces and recreational areas, and a cultural and heritage precinct.”
“The continued effort to improve the amenity of the city centre and capitalise on the area’s distinctive cultural and locational attributes will be critical to attracting new business and employment to the area and improving employment self-sufficiency.”
The same report also identifies the Armadale Redevelopment Authority Area plans in regards to housing supply.
“The Armadale Redevelopment Authority area is estimated to yield between 14,000 and 17,000 dwellings when fully developed over the next 15 to 20 years. The resulting development is likely to house a population approaching 45,000 residents. The 1,500 hectares Wungong Urban Water area is the most significant project in terms of the future growth of Armadale.”
“Associated with this development are a business park of 330 hectares and other smaller projects in the City Centre helping to provide a stronger employment base.”
Number 10.7, Planned and required infrastructure, discusses the public transport plans for the region.
“The long term vision of the proposed public transport network includes extension of the Armadale passenger railway line to Byford and Mundijong; and, extension of the Thornlie line to link with the Mandurah line with a major interchange in the vicinity of Ranford Road and a station to serve the growth in the Jandakot Airport precinct.”
Western Australia is not, like so many media reports have maintained “in a recession”. It’s still a solid place to invest.
Terry Ryder’s article titled Despite media misinformation, Western Australia remains national growth leader, says it best:
“I’ve examined a range of economic indicators and they all show WA is the polar opposite of a state in recession. Out of nine indicators, it leads the nation on four, is second on another and third on the other four.” “Its population growth rate is 3.3%, well ahead of the 1.6% national average and easily the highest in the nation. Retail spending has risen 7.9% in annual terms, compared to the 3.1% national average and again the highest growth in the nation. Finance to home-buyers is up 10.8%, compared to just 1.6% nationally, and yet again No.1 among the state and territories.”
“I’ve examined a range of economic indicators and they all show WA is the polar opposite of a state in recession. Out of nine indicators, it leads the nation on four, is second on another and third on the other four.”
“Its population growth rate is 3.3%, well ahead of the 1.6% national average and easily the highest in the nation. Retail spending has risen 7.9% in annual terms, compared to the 3.1% national average and again the highest growth in the nation. Finance to home-buyers is up 10.8%, compared to just 1.6% nationally, and yet again No.1 among the state and territories.”
Australian Bureau of Statistics,. (2014). National Regional Profile 2007-2011. Retrieved 3 June 2014, from http://www.abs.gov.au/AUSSTATSemail@example.com/Latestproducts/50601Population/People12007-2011?opendocument&tabname=Summary&prodno=50601&issue=2007-2011
Perthnow.com.au,. (2014). Armadale best place to invest in WA says Australian Property Investor Magazine. Retrieved 1 June 2014, from http://www.perthnow.com.au/news/western-australia/armadale-best-place-to-invest-in-wa-says-australian-property-investor-magazine/story-fnhocxo3-1226630788360
Planning.wa.gov.au,. (2014). PlanningWA :: Outer Metropolitan Perth and Peel Sub-regional Strategy – Draft. Retrieved 2 June 2014, from http://www.planning.wa.gov.au/publications/990.asp
RP Data,. (2014). RPData Suburb Profile Report Mar. 2014. Retrieved 2 June 2014, from http://www.myrp.com.au/suburb/wa/armadale/6112
Ryder, T. (2014). Despite media misinformation, Western Australia remains national growth leader: Terry Ryder. Property Observer. Retrieved 10 July 2014, from http://www.propertyobserver.com.au/finding/residential-investment/23422-tuesday-june-11-terry-ryder.html