Suburb Profile Report for Westcourt QLD (4870)

Westcourt House: Median price $350,000, Annual capital growth 1.81%, Number of sales 43, Weekly median advertised rent $370

Westcourt Unit: Median price $207,000, Annual capital growth -2.77%, Number of sales 51, Weekly median advertised rent $275

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Westcourt has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -2.91%

Taking the average capital gain, or increase in median house value, Westcourt,4870 has racked up an average of -2.91% over the period. This ranks it number 2895th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Westcourt 4870 should be seeing an average reduction in asking price of around -6.86% . This means that Westcourt is holding prices well when compared to other suburbs in QLD.

The QLD suburb of Westcourt, 4870 is in the Cairns local government area.

Westcourt has had a very poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -7.38% to date .

If we look at median property appreciation over just the last three months, Westcourt has given property investors a paper return of 0.00%. This puts Suburb as 149 on a list of fastest fasting appreciating suburbs in QLD

Sellers are offering property buyers an average discount of -6.42% to buyers in Westcourt at the moment, which is less than average for the rest of QLD.

Using the current median advertised rental of $275 and the average annual increase in value of a median property of -2.77%, investors should hope to achieve an overall return of 6.91%

YIP MAG Information supplied by:

YIP MAG
June 2016

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Thanks to the suburb’s prime location adjacent to major city Cairns in Far North Queensland, Westcourt’s charming low-set Queenslanders and red-brick homes are primed for growth as buyers bring about revitalisation.Full summary Thanks to the suburb’s prime location adjacent to major city Cairns in Far North Queensland, Westcourt’s charming low-set Queenslanders and red-brick homes are primed for growth as buyers bring about revitalisation.

“A little bit of input can greatly increase the value of these properties and set you up for higher capital gains,” says Lance Richards, licensed sales agent and auctioneer at The Property Shop Cairns.

“For example, a red-brick home was recently bought for $275,000 and the owners spent $60,000–$70,000 on improvements. It’s now worth $450,000.”

Convenience is Westcourt’s prevailing drawcard, as the suburb is in close proximity to a TAFE college, schools and Sportsworld, as well as just 2km from the CBD and only minutes from Cairns’ beaches.

Richards says Westcourt presents a “great way to buy into the market at a low median and still get a really great location”.

The median house price of $347,500 is returning a yield of 5.6%, while units are achieving an excellent yield of 7%. “Two very popular streets are Collinson Street and Jones Street,” says Richards.

“They’re central, have the least amount of unit developments, and they started the precedent of modernising older homes in close proximity to the city.”Close
Metrics i HOUSE UNIT
$350,000 $207,000
-1.41% 0.00%
-2.91% -7.38%
1.81% -2.77%
$370 $275
43 51
5.50% 6.91%
68.56 95.08

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Westcourt QLD
Demographics
Total population 3904
Median household income ($/weekly) 842
Median age of persons 35
Median housing loan repayment ($/monthly) 1625
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 410 10.5
    25-34 years 752 19.3
    35-44 years 528 13.5
    45-54 years 393 10.1
    55-64 years 396 10.1
    Others 1426 36.5
    Age Group
    Census Count Percent(%)
    Not Married 1463 57.1
    Registered Married 721 28.1
    Defacto Relationship 379 14.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2290 67.9
    South Korea 99 2.9
    Papua New Guinea 114 3.4
    United Kingdom 146 4.3
    Other 323 9.6
    Others 401 11.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 82 2.6
    Christianity 2165 67.6
    Hinduism 116 3.6
    Islam 37 1.2
    No Religion 775 24.2
    Others 30 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 147 11.0
    $400-$599 187 14.0
    $600-$799 171 12.8
    $800-$999 150 11.2
    $1,500-$1,999 153 11.4
    Others 530 39.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1152 41.0
    Employed, worked full-time 958 34.1
    Employed, worked part-time 374 13.3
    Unemployed, looking for work 206 7.3
    Employed, away from work 120 4.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 255 17.5
    Technicians & trades workers 229 15.7
    Community & personal service workers 215 14.8
    Sales 156 10.7
    Labourers 175 12.0
    Others 427 29.3
    Occupation
    Census Count Percent(%)
    Pre-school 23 3.8
    Infants/Primary 193 31.9
    Secondary 152 25.1
    Technical or Further Educational Institution 138 22.8
    University or other Tertiary Institutions 76 12.6
    Others 23 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1498 46.6
    Flat, unit or apartment 1417 44.0
    Semi-detached, row or terrace house, townhouse 302 9.4
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 960 66.0
    Fully owned 263 18.1
    Being purchased 201 13.8
    Other tenure type 31 2.1
    Tenure Type
Census 2011, ABS
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