Merry Christmas Everyone!

Before I start this article I want to wish everyone a Merry Christmas! Have a happy holiday and make sure you to spend time with your family and friends because that is what is most important 🏠️ 

Suburb Details:

Spencer Park, nestled just 2 kilometres from Albany’s city centre in Western Australia, offers a unique blend of convenience and opportunity for investors. With its strong healthcare presence, anchored by the Albany Health Campus, and a economy supported by education, retail, and tourism, the suburb presents a balanced market. Low vacancy rates and solid rental demand reflect its appeal, while its proximity to Albany’s coastline and natural attractions enhances its liveability. For those seeking an entry into a regional hub with fast growth potential, Spencer Park deserves closer attention.

Key Data Metrics

_{*Note: Data derived from either DSR, Suburbs Finder or HTAG depending on reliability and availability of metrics. This is only a guide and best to cross-reference with other sources.}

Location & Infrastructure

Spencer Park is a residential suburb located just 2 kilometres northeast of Albany’s city centre in Western Australia. It offers convenient access to essential services, with the Albany Health Campus, a key healthcare facility for the region, situated within the suburb. Residents benefit from local amenities, including schools, parks, and shopping options such as the Spencer Park Shopping Centre. The suburb is well-connected to Albany’s central business district via local roads and public transport, making it a practical choice for families and professionals. Its proximity to Albany’s coastline and natural attractions further enhances its appeal.

Economic Diversity & Jobs

Spencer Park benefits from the diverse economy of the broader Albany region. Key sectors include healthcare, retail, education, and tourism, which collectively support a stable job market. The Albany Health Campus, located in Spencer Park, is a major employer, providing a range of healthcare services to the region. Retail and small businesses also contribute to the local economy, supported by Albany’s status as a regional hub. Tourism adds economic value, with visitors drawn to Albany’s natural attractions, such as the nearby coastline and national parks. Employment diversity in Spencer Park reflects Albany’s broader economy, which boasts an unemployment rate of approximately 3.7% as of 2024, indicating a stable and sustainable labour market.

Other Important Factors:

While the suburb was once known for its affordability, rising property prices have reduced its appeal to budget-conscious buyers. This shift may limit accessibility for first-home buyers and investors seeking entry-level opportunities.

The suburb maintains low vacancy rates, indicating strong rental demand and consistent tenant turnover. The renter-to-owner ratio sits at 39% which isn’t great but isn’t bad either but you should proceed with caution.

The area has experienced fluctuations in growth, with periods of price increases followed by dips. This cyclical trend suggests that investors should carefully analyse market timing to maximise potential returns.

Nearby Major Projects:

• Albany Current Projects - Link

• Albany Future Projects - Link

• Albany Completed Projects - Link

Example Property:

_{*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.}

Pro’s Of Investing In Spencer Park ✅ 

• Strong rental yields with strong capital growth.

• Extremely low building approvals → low supply.

• Days on market and stock on market is low → Strong Demand.

Con’s Of Investing In Spencer Park ❌ 

• Higher insurance costs and council rates.

• The lack of affordability is rising as prices continue to rise.

• Smaller population size → more susceptible to economic downturns.

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Total Value: $1,299→ Today’s Price $35

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_{Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organisation. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.}