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Parkwood is a delightful suburb that offers a serene and family-friendly environment, making it a wonderful place to live. The suburb is characterized by its peaceful atmosphere and strong sense of community, which is particularly appealing to families. With its lush parks and recreational facilities, Parkwood provides ample opportunities for outdoor activities, ensuring that residents can enjoy an active and balanced lifestyle. The suburb's proximity to major roads and public transport options makes commuting to the Perth CBD and surrounding areas convenient, adding to its appeal for both professionals and families.

For families, Parkwood is an ideal choice, offering access to quality educational facilities such as Parkwood Primary School and Lynwood Senior High School. The presence of these schools, along with community amenities and shopping centers, supports a comfortable and convenient lifestyle. The suburb's tranquil vibe is complemented by its accessibility to recreational spots like the Whaleback Golf Course and Riverton Leisureplex, providing plenty of options for leisure and relaxation.

While Parkwood offers many benefits, there are some trade-offs to consider. The suburb's focus on a peaceful, suburban lifestyle means it may lack the vibrant nightlife and cultural attractions found in more urban areas. Additionally, the relatively small rental market might pose a challenge for those seeking short-term accommodation. However, for those looking for a stable, community-oriented environment with excellent amenities and a family-friendly atmosphere, Parkwood is a fantastic choice.

Living in Parkwood can be seen as moderately expensive, especially when considering the housing market. The median house price in Parkwood is currently $848,000, which is a significant investment for anyone looking to buy property. For those considering renting, the average rent for houses is $665 per week. This rental cost is substantial, particularly when compared to the median total household income in Parkwood, which is $1,599 per week. This means that a considerable portion of household income would need to be allocated to housing costs.

When we compare this to the average wage in Western Australia, which is around $85,000 per year, it becomes clear that living in Parkwood might be a financial stretch for some. The cost of housing, both in terms of buying and renting, is relatively high when matched against the average earnings. While Parkwood offers its own unique lifestyle and amenities, those thinking of living there should carefully evaluate their financial situation to ensure they can comfortably manage the expenses associated with this suburb.

Parkwood is showing promising signs as a potential investment hotspot, particularly for those interested in houses. Over the past year, the suburb has experienced a significant 16.8% increase in median house values, indicating strong demand and potential for capital growth. This surge suggests that Parkwood is becoming increasingly attractive to buyers, likely due to its appealing lifestyle and amenities.

In terms of rental income, Parkwood's house rents have risen by 10.8% over the last 12 months, reflecting a robust rental market. This increase in rental yield can be appealing for investors seeking steady income streams. However, it's worth noting that unit values and rents have remained stagnant, which might suggest a lesser demand for units compared to houses in the area.

Overall, Parkwood presents a compelling opportunity for those looking to invest in houses, with its strong capital growth and rising rental yields. While units haven't seen the same level of growth, the suburb's overall performance makes it a solid choice for investors focusing on houses. As always, it's important to consider the broader market trends and individual investment goals when making decisions.