Property investors who have had real estate in Sorrento, 6020 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 decrease in value by -0.14%
A 5.00% growth in median value for property investors in Sorrento,6020 puts this suburb at number 55th in terms of best performing suburbs in WA
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.24% offered to property buyers. Sellers in Sorrento itself are offering an average vendor discount of -6.15% to real estate investors.
Situated 16.91km from the CBD, Sorrento is one of Joondalup localities in the postcode 6020.
If you compare the increase in value of investment property in Sorrento, 6020 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -14.62%.
Taking the average capital gain, or increase in median house value, Sorrento,6020 has racked up an average of -14.62% over the period. This ranks it number 1529th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Sorrento 6020 should be seeing an average reduction in asking price of around -9.82% . This means that Sorrento is holding prices well when compared to other suburbs in WA.
With the median price for a house in Sorrento being $365000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 5.56%