Suburb Profile Report for Sorrento WA (6020)

Sorrento House: Median price $906,500, Annual capital growth 1.79%, Number of sales 119, Weekly median advertised rent $565

Sorrento Unit: Median price $389,000, Annual capital growth 3.76%, Number of sales 18, Weekly median advertised rent $385

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

Source: CoreLogic

  • House Report
  • Unit Report

Sorrento is in the bottom 40% in WA when comparing median price capital growth over the last year. Sorrento gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.26%.

Comparing Sorrento,6020 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Sorrento6020 is located in WA which offers an average discount of -8.23% to property investors. Sorrento itself is showing figures that indicate -6.43% is the average achievable by property buyers investing in the suburb.

At number 1596 in a list of fastest selling suburbs, Sorrento is just in the top half of suburbs in Australia with an average of days on market 73.51 for properties listed there.

Sorrento is 328th on a list of best yielding suburbs for rents in WA with a 3.24% return

Investment property in Sorrento has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -9.53%

Taking the average capital gain, or increase in median house value, Sorrento,6020 has racked up an average of -9.53% over the period. This ranks it number 1163th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Sorrento should be aiming for at least -7.44% off the asking price, which is the average vendor discount being achieved at the moment.

Renters in Suburb are facing rents around $4620 per annum or $385 every week.

Metrics i HOUSE UNIT
$906,500 $389,000
1.28% -9.01%
-7.26% -9.53%
1.79% 3.76%
$565 $385
119 18
3.24% 5.15%
73.51 192.93

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 7371
Median household income ($/weekly) 2065
Median age of persons 43
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 944 12.8
    35-44 years 880 11.9
    45-54 years 1251 17.0
    55-64 years 1283 17.4
    65-74 years 661 9.0
    Others 2352 31.9
    Age Group
    Census Count Percent(%)
    Registered Married 3329 60.1
    Not Married 1925 34.7
    Defacto Relationship 286 5.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 4805 68.7
    Papua New Guinea 146 2.1
    South Africa 250 3.6
    United Kingdom 898 12.8
    Other 244 3.5
    Others 654 9.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 69 1.0
    Christianity 5172 76.7
    Hinduism 43 0.6
    Islam 47 0.7
    No Religion 1371 20.3
    Others 43 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 212 9.6
    $2,000-$2,499 194 8.8
    $2,500-$2,999 336 15.3
    $3,000-$3,499 242 11.0
    $4,000 or more 238 10.8
    Others 978 44.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2186 37.9
    Not in the labour force 1763 30.5
    Employed, worked part-time 1473 25.5
    Employed, away from work 232 4.0
    Unemployed, looking for work 120 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 649 16.7
    Professionals 1078 27.7
    Technicians & trades workers 450 11.6
    Clerical & administrative workers 628 16.1
    Sales 414 10.6
    Others 675 17.3
    Occupation
    Census Count Percent(%)
    Pre-school 81 4.4
    Infants/Primary 625 33.8
    Secondary 534 28.9
    Technical or Further Educational Institution 110 5.9
    University or other Tertiary Institutions 476 25.7
    Others 24 1.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6324 92.2
    Flat, unit or apartment 460 6.7
    Semi-detached, row or terrace house, townhouse 76 1.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1194 47.8
    Being purchased 930 37.2
    Rented 367 14.7
    Other tenure type 9 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals