5/1020 Wellington Street, West Perth WA 6005
5/1020 Wellington Street, West Perth WA 6005
This is a 2-bedroom, 2-bathroom two-storey flat apartment built in 2003 on a 499m² lot in West Perth. It offers a rare low-density configuration in a high-density suburb, with strong connectivity and a prime location near the CBD and stadium. The property is well-suited for professionals or investors seeking a distinctive floorplan and solid rental demand.
What is competitively strong here is the unusual two-storey layout and the generous land holding of nearly 500m², which is far larger than typical apartment lots in West Perth. This gives the property a more private, almost townhouse-like feel within a boutique building, setting it apart from standard high-rise units. The location is a clear advantage, placing the buyer close to the city, dining, and major amenities, while the confirmed school catchments for West Leederville Primary and Bob Hawke College add long-term appeal. This property serves best a professional couple or an investor targeting tenants who value space and proximity over a conventional single-level apartment.
The key factor affecting value is the pricing gap between this listing and recent sales of other units in the same building, which transacted significantly lower. That difference may be justified by the unique two-storey configuration and larger land share, but it also introduces a risk that the market does not fully recognise those features at the current level. The estimated rental yield of around 5.5% is solid, but a buyer should weigh whether the premium for the layout will be reflected in future resale or if it narrows the buyer pool. Any softening in the West Perth market could make this price harder to sustain.
Detailed Independent Property Report prepared by PropCred Analyst team for 5/1020 Wellington Street, West Perth WA 6005
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
2
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Market Insight
West Perth is a tightly held inner-city suburb positioned for sustained demand, driven by its proximity to the CBD and robust transport links. Demand is fuelled by strong population growth, including interstate and overseas arrivals, while a chronic undersupply of housing stock creates intense competition, accelerating capital growth as evidenced by recent rapid price appreciation. Future growth is anchored in this persistent supply-demand imbalance, though affordability pressures and interest rate sensitivity remain key constraints for the market.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
499m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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