How Much is My Home Worth? – Perth
When trying to figure out how much your home is worth, it is important to understand that there is much more to consider than just the house and the lot that it sits on. There are many factors that impact how much a home is worth, many of which, are completely out of your control. One obvious factor that surprisingly many people tend to skip over, is the geographical location that your city is located. Think about it, if your home is in a city that is located in a dangerous area, perhaps it is right on a well-known vault line, or it has been built up under sea level, people are not going to pay nearly as much to live there, nor will there be the demand for real estate that other cities have.
The city of Perth is one of the largest cities in the world, and is home to over 2 million people. Set not eh Swan River, the core of the city and the majority of the suburbs have been developed over the fairly flat Swan Coastal Plain. This plain lies between the Indian Ocean and the Darling Scarp. In total the city extends 125km north to south, and 50km east to west, and the metropolitan covers over 6,400 square km total. The city has two primary river systems that run throughout it, the first being the Murray and the Serpentine Rivers, and the second being the Canning and the Swan rivers.
Being one of the largest cities in the world, and one of the capital cities of Australia, Perth is an industry hub. The business district of Perth is located between Kings Park, the Swan River, and the railway reserve. This district is home to numerous offices and skyscrapers, including Central Park, which is the tallest building in the city, and the 17th tallest in all of Australia.
The geographical location of a piece of real estate, impacts how much the home is worth dramatically. If located on unsafe, or unusable land the city would not be able to flourish the way that the city of Perth has. And if a city is too isolated how much a home is worth declines even more. Luckily, the city of Perth was developed in such a way that not only is it a stable place to live, but it attracts more and more residents yearly. Since the mid 1960’s actually, the population has grown immensely. This rapid growth in population has increased how much homes in Perth are worth greatly as well. With more people wanting to live there, the more that homeowners and developers are able to sell their properties for.
Because of where the city of Perth is located, it is somewhat isolated from other cities in some ways, by no ways are the residents living on a secluded island, or unable to access the resources and utilities that we have all come to expect, but in terms of industry, the geographical separation that the city has, has made an impact. The city has very much become a self-reliant economy that has created multiple strong industries, and focuses on serving and benefiting its residents as opposed to manufacturing and shipping product out. This unique set up has made an impact on how much homes in Perth are worth. Houses in Perth are seen by many as being located in a city that has many job opportunities because of how indecently run, and self-reliant the economy of Perth has become. Perth is a great example of how a city’s geographical location makes a huge impact on how much a home is worth.