Suburb Profile Report for Nedlands WA (6009)

Nedlands House: Median price $1,496,000, Annual capital growth 1.83%, Number of sales 145, Weekly median advertised rent $650

Nedlands Unit: Median price $602,500, Annual capital growth -3.30%, Number of sales 24, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Giving property investors a an unimpressive capital gain of -0.60% for the last year, Nedlands, 6009 is the 2937th highest performer in Australia in this respect.

While Nedlands,6009 ranked number 175th in WA for increase in median house value (annualised) increase, it is ranked 318th over the last 5 years.

State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.21% offered to property buyers. Sellers in Nedlands itself are offering an average vendor discount of -8.39% to real estate investors.

In the last year 145 properties changed hands in Nedlands, which puts it as the 53th most active market in WA when comparing the number of sales per suburb.

With the median price for a house in Nedlands being $1496000 and the advertised rent reaching $650 the gross rental yield for property investors calculates out to be 2.26%

Property value increases in Nedlands have tracked just higher than the WA average of -3.23% over the last 12 months.

Nedlands,6009 has offered an average of 4.78% return per annum in house price rises to property investors over the last three years.

Property investors looking for a bargain in Nedlands should be aiming for at least -9.30% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in Nedlands the average time real estate has been on the market is 84.33 days.

A $400 per week rent on the median house gives suburb investors a gross yield of circa 3.45%, without taking into account capital value appreciation, which has been averaging out at -3.30%.

YIP MAG Information supplied by:

YIP MAG
May 2016

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There are some fantastic amenities in or close to this suburb, which makes it really popular with both professionals and familiesFull summary While it’s home to what would appear to be some relatively attractive infrastructure, the unit market in Nedlands seems to have hit a rough patch.

The median unit price in the suburb sits at a respectable $587,500; however, that is likely to fall given current trends.

The median price has dropped 15% this year, according to CoreLogic RP Data, and by 2% over the past five.

Sales are slow, with units spending on average 64 days on the market and vendors offering discounts of 9%.

While Nedlands is currently struggling, the suburb has some qualities that might make it a good location to look at when the market bottoms out.

The University of Western Australia is immediately to the east of Nedlands, while the expansive QEII Medical Centre is to the north.

There are also a number of nearby train stations linking the suburb to the rest of Perth.Close
HOUSE UNIT
$1,496,000 $602,500
-0.27% 4.78%
-0.60% 4.78%
1.83% -3.30%
$650 $400
145 24
2.26% 3.45%
78.45 84.33

Source: CoreLogic

DSR Score for property investment : Good (H), Balanced (U)
Find a mortgage broker in Nedlands WA
Demographics
Total population 10183
Median household income ($/weekly) 2342
Median age of persons 39
Median housing loan repayment ($/monthly) 2975
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 1356 13.3
    20-24 years 1029 10.1
    35-44 years 1189 11.7
    45-54 years 1464 14.4
    55-64 years 1292 12.7
    Others 3853 37.8
    Age Group
    Census Count Percent(%)
    Registered Married 3855 51.7
    Not Married 3200 42.9
    Defacto Relationship 402 5.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 6261 64.3
    Malta 354 3.6
    Singapore 217 2.2
    United Kingdom 973 10.0
    Other 521 5.4
    Others 1410 14.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 255 2.7
    Christianity 5753 61.2
    Hinduism 141 1.5
    Islam 146 1.6
    No Religion 2979 31.7
    Others 120 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 198 6.4
    $1,500-$1,999 292 9.4
    $2,500-$2,999 564 18.1
    $3,000-$3,499 298 9.6
    $4,000 or more 463 14.8
    Others 1303 41.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2796 35.2
    Not in the labour force 2727 34.3
    Employed, worked part-time 1925 24.2
    Employed, away from work 292 3.7
    Unemployed, looking for work 211 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 822 16.4
    Professionals 2330 46.5
    Community & personal service workers 363 7.2
    Clerical & administrative workers 575 11.5
    Sales 376 7.5
    Others 547 10.9
    Occupation
    Census Count Percent(%)
    Pre-school 169 5.1
    Infants/Primary 936 28.5
    Secondary 662 20.2
    Technical or Further Educational Institution 114 3.5
    University or other Tertiary Institutions 1352 41.2
    Others 52 1.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7719 81.8
    Semi-detached, row or terrace house, townhouse 1048 11.1
    Flat, unit or apartment 664 7.0
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1441 41.5
    Being purchased 991 28.5
    Rented 984 28.3
    Other tenure type 56 1.6
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals