5/49 Stoneham Street, Joondanna WA 6060
5/49 Stoneham Street, Joondanna WA 6060
2-bed unit, 1969 build | renovator appeal | Tuart Hill Primary catchment | compact strata complex | strong rental demand
What stands out here is the combination of location and entry-level configuration. A two-bedroom, one-bathroom unit with a single car space in an established inner-northern suburb is a practical product for first-home buyers, downsizers, and investors alike. The 1969 construction date means the unit sits on a larger strata site with shared land, which keeps ongoing costs modest while offering genuine update potential. Being inside the Tuart Hill Primary School intake adds family appeal, and the suburb’s mix of older apartment stock and higher-end detached housing means this unit occupies a distinct, affordable segment that tends to turn over quickly. For a buyer prepared to refresh finishes, this could serve as a solid long-term hold or a smart entry into a well-located postcode.
The age of the building is the main factor to weigh. Original fixtures, dated kitchen and bathroom, and older wiring or plumbing may require attention, which could affect how much you spend beyond the purchase price. The unit’s position within the complex, natural light, and any recent upgrades will influence its relative appeal. Market conditions for older units in this corridor appear active, but condition-sensitive pricing is common. A buyer should factor in potential renovation costs and consider how the unit compares to others in the complex that may have been updated already.
|| Comparable Sales: 6/49 Stoneham Street sold price undisclosed; 25A Stoneham Street house listed $864K–$936K | Property Price Band: $550K–$650K | Value Drivers: condition, layout efficiency, renovation upside
Detailed Independent Property Report prepared by PropCred Analyst team for 5/49 Stoneham Street, Joondanna WA 6060
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
2
Execution Risk
1
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Market Insight
Joondanna, six kilometres from Perth, is a tightly held inner-suburban market defined by professional households in the 30-39 age bracket, a majority of whom hold mortgages. Demand is driven by proximity to North Perth and Osborne Park, local primary schooling, and passive recreation spaces anchored by Roberts Street’s water-tower park. House prices have surged 18.7-22.5% annually to a median of roughly $1.15 million, with units climbing 20.3% to $661,852; homes sell in under two weeks, reflecting inventory constraints—just two listings last month. Rental demand remains firm, with house rents at $850 weekly and unit yields at 4.5%. Future growth hinges on ongoing limited supply and inner-city appeal, but affordability and rate sensitivity pose clear risks given the high share of mortgaged owners and incomes about 10% below the Greater Perth average.
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PropCred Estimated Value
Comparable Sales: 6/49 Stoneham Street sold price undisclosed; 25A Stoneham Street house listed $864K–$936K | Property Price Band: $550K–$650K | Value Drivers: condition, layout efficiency, renovation upside
Bedrooms
2
Bathroom
1
Parking
1
Land
3033m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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