16 Norland Way, Spearwood WA 6163
16 Norland Way, Spearwood WA 6163
16 Norland Way | large 731 m² block | 3×1 older house | family potential | renovation scope
16 Norland Way is known for its generous 731 m² block, which is rarely paired with a modest three-bedroom, one-bathroom layout. The house is positioned as a land-rich opportunity, and its configuration is considered to suit families or renovators. A large backyard is provided, offering scope for recreation, a future extension, or simply space to breathe. The street setting is settled and residential, and long-term appeal is supported by this character. For buyers who are willing to update, this house is offered as a practical entry point into a proven corridor without paying for premium finishes that may not be needed.
The final value may be shaped by the condition of the original structure, the practicality of the floor plan, and whether the lot offers subdivision potential. The cost of modernisation should be weighed against the benefit of securing a large block in a strong corridor. If the house is updated well, a premium might be achieved over comparable stock; if it is left largely untouched, the price is likely to be determined by land content alone.
>> Comparable Sales: 6 Norland Way sold $961,000 | Property Price Band: $900K to $1M | Value Drivers: land size, condition, redevelopment potential
Detailed Independent Property Report prepared by PropCred Analyst team for 16 Norland Way, Spearwood WA 6163
Checks found:
Value Risk
✓
Liquidity Risk
!
1
Planning Risk
✓
Income Risk
!
1
Execution Risk
✓
Market Insight
Spearwood WA sits as a well-positioned middle-ring market, anchored by trades-heavy demographics and mid-to-high household earnings. House values have climbed to a $900,000–$942,000 median across recent quarters, with annual appreciation running 20–22%; units follow at $517,000–$581,500, growing 23–35% year-on-year. The market is tight-houses clear in roughly 26–28 days-and rental demand is firm, with house yields at 3.9% and units at 5.2% as unit rents rose 15.4%. Buyer appetite is driven by local trades and higher-income households, and Spearwood is selling 37.8% faster than Fremantle, though nearby Hamilton Hill has an even quicker 48.6% pace. Sustained tightness and robust sales volumes support further upside, but affordability is now stretched and rate sensitivity poses a clear constraint given the sharp recent price surge.
PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
2
Land
963m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst