At number 3565th in the list of Australian suburbs ordered by increase in median house value over the last year, Warwick, 6024 is in the BOTTOM 20% with a property value increase of -6.00% recorded in median house prices.
Over the longer term, Warwick has seen property prices show investors a 5.81% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Warwick are currently offering property investors an average price cut of -6.96% below the asking price at the moment.
In the last year 60 properties changed hands in Warwick, which puts it as the 197th most active market in WA when comparing the number of sales per suburb.
A $410 per week rent on the median house gives suburb investors a gross yield of circa 3.78%, without taking into account capital value appreciation, which has been averaging out at 5.01%.
Located apporox 12 kms north of Perth CBD and 5 kms from the Ocean, with excellent access to the City by rail and Freeway. First developed in 1972, and now in a transition phase with many properties undergoing extensive renovation and some older, smaller properties being demolished to make way for new housing. There is a proposal to re zone parts of the suburb to allow for more dense residential housing.Full summary
Information supplied by:
Roy Weston Real Estate
(08) 9477 4444
0431 000 501
Located apporox 12 kms north of Perth CBD and 5 kms from the Ocean, with excellent access to the City by rail and Freeway. First developed in 1972, and now in a transition phase with many properties undergoing extensive renovation and some older, smaller properties being demolished to make way for new housing. There is a proposal to re zone parts of the suburb to allow for more dense residential housing.
Most sought-after properties: Our median price is still only around $500,000. Therefore suited to first home buyers and investors. Newer properties of 25 years and younger cater more for bigger families.
Most common properties: 3 bedroom double brick and tile buildings. 30-40 years old.
Top amenities: Numerous large Shopping Centres, High Schools, Primary schools, abundant open parklands, sporting facilities, good medical services, excellent public transport.
Local industry and business: Balcatta Industrial and Commercial area within 3 kms, Malaga Industrial 5 kms to the east, Joondalup City 10 kms to the north, Perth CBD 14 Kms to the south.
Recent changes: Possible re zoning of some areas to allow for greater density housing. Land values have increased to allow for re development and renovation of older housing.
Public transport: North/south freeway and rail to Perth City and Joondalup City. East/West to Midland City and popular local beaches.
Main arteries: North/south, = Mitchell Freeway and Wanneroo Road. Eats/west = Hepburn Avenue nd Reid Highway. Access to Perth Airpot via Reid Highway = approx 35 minutes.