Property investors who have had real estate in Subiaco, 6008 should be relatively unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 0.28%
Across a shorter period, Subiaco, 6008 has seen a median price increase of -1.08% over the last quarter.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.04% offered to property buyers. Sellers in Subiaco itself are offering an average vendor discount of -6.13% to real estate investors.
With the median price for a house in Subiaco being $1233500 and the advertised rent reaching $695 the gross rental yield for property investors calculates out to be 2.93%
WA has seen average median house prices change by -3.39% which means that Subiaco, 6008 has not done well for property investors by showing a capital gain of -3.27% over the last year
Taking the average capital gain, or increase in median house value, Subiaco,6008 has racked up an average of -3.27% over the period. This ranks it number 1470th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Subiaco is offering property investors an average of -7.52. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in WA
On average over the past year, suburb has had 12.42 sales per month, which equates to 149 per year.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 3.95%, without taking into account capital value appreciation, which has been averaging out at 4.15%.
‘Subi’, as many locals affectionately call it, is one of Perth’s most densely populated areas, and is right on the western edge of the CBD.Full summary
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‘Subi’, as many locals affectionately call it, is one of Perth’s most densely populated areas, and is right on the western edge of the CBD.Close
It’s a trendy suburb with a strong appeal to students and young professionals as well as growing families.
The suburb’s mainstay, Rokeby Street, offers a broad range of shopping amenities, while Perth’s iconic Kings Park directly borders Subiaco to the southeast.
Surprisingly, there remain more detached houses than apartments in Subiaco (34%), though this is expected to change as Perth embraces high-density living.
But being fairly built up already, the pace of high development should be kept in check.
While Subiaco’s median house values fell by 1% over the past 12 months, this drop is relatively small compared to Perth’s broader price performance.
OnTheHouse.com.au remains bullish about Subiaco’s prospects, forecasting 6% growth each year over the next eight years for houses, which would take the median value to $2,008,000.