Property value increases in Sorrento have tracked lower than the WA average of -4.91% over the last 12 months.
Across a shorter period, Sorrento, 6020 has seen a median price increase of -0.52% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Sorrento is offering property investors an average of -8.04. This rate of discount on properties puts Suburb at number 179th in terms of most discounted suburbs in WA
At number 2028 in a list of fastest selling suburbs, Sorrento is just in the bottom half of suburbs in Australia with an average of days on market 82.73 for properties listed there.
Sorrento, 6020’s gross rental yield is 3.43%
WA has seen average median house prices change by -3.39% which means that Sorrento, 6020 has not done well for property investors by showing a capital gain of -6.51% over the last year
The five-year average increase in median property values for Sorrento,6020 has given property investors a potential capital gain of 2.25% across each of those five years.
Sellers are offering property buyers an average discount of -6.30% to buyers in Sorrento at the moment, which is less than average for the rest of WA.
Residents and property investors in Sorrento have been waiting around 136.66 days to sell a property.
With the median price for a house in Sorrento being $409000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 4.64%