Property value increases in Subiaco have tracked just higher than the WA average of -4.99% over the last 12 months.
While Subiaco,6008 ranked number 301th in WA for increase in median house value (annualised) increase, it is ranked 320th over the last 5 years.
Property buyers and investors in Subiaco 6008 should be seeing an average reduction in asking price of around -9.49% . This means that Subiaco is holding prices well when compared to other suburbs in WA.
In the last year 68 properties changed hands in Subiaco, which puts it as the 174th most active market in WA when comparing the number of sales per suburb.
A $650 per week rent on the median house gives suburb investors a gross yield of circa 2.85%, without taking into account capital value appreciation, which has been averaging out at 2.55%.
Subiaco is in the bottom 40% in WA when comparing median price capital growth over the last year. Subiaco gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.05%.
A -3.44% growth in median value for property investors in Subiaco,6008 puts this suburb at number 81th in terms of best performing suburbs in WA
Property investors looking for a bargain in Subiaco should be aiming for at least -9.36% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Subiaco have been waiting around 100.06 days to sell a property.
With the median price for a house in Subiaco being $560000 and the advertised rent reaching $430 the gross rental yield for property investors calculates out to be 3.99%
‘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
Information supplied by:
‘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.