Suburb Profile Report for Forrestfield WA (6058)

Forrestfield House: Median price $397,500, Annual capital growth 1.10%, Number of sales 172, Weekly median advertised rent $350

Forrestfield Unit: Median price $367,500, Annual capital growth 5.96%, Number of sales 10, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

WA has seen average median house prices change by -3.78% which means that Forrestfield, 6058 has not done well for property investors by showing a capital gain of -7.56% over the last year

Over the longer term, Forrestfield has seen property prices show investors a -9.66% return over the last 3 years. This is an improvement over the last 12 months

Sellers are offering property buyers an average discount of -7.44% to buyers in Forrestfield at the moment, which is less than average for the rest of WA.

Forrestfield, 6058’s gross rental yield is 4.58%

Forrestfield, 6058 ranked 73th in WA when comparing growth in median property values or capital gain over the last 12 months. Forrestfield is one of 1662 in our list for WA

Vendor discounting in Forrestfield is giving property investors an average Vendor Discount of around -9.88%. This puts suburb at number 26th in WA when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Forrestfield the average time real estate has been on the market is 85.5 days.

YIP MAG Information supplied by:

YIP MAG
June 2016

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Major infrastructure development is a key growth factor for the suburb of Forrestfield, located 15km south of the Perth CBD.Full summary Major infrastructure development is a key growth factor for the suburb of Forrestfield, located 15km south of the Perth CBD.

Managing director of Professionals Forrestfield Glen Newland says the suburb is popular with young families and blue-collar workers, who are drawn to the large blocks that cater for kids and allow for large sheds.

“It’s still in the first-home buyer’s bracket of $420,000 to $460,000, where you can get a full-size block with a family home,” says Newland.

While currently only pockets of Forrestfield are zoned for subdivision and units are still reasonably new to the suburb, Newland says most of Forrestfield has been flagged for rezoning in the future. 

Forrestfield’s population is expected to rise with the completion of the $2bn Forrestfield-Airport rail link in 2020, which includes plans to develop the surrounding 250ha into high-density residential and commercial zones, as well as a new shopping centre.

Conveniently located adjacent to Perth Airport but sidestepping the flight path,Close
Metrics i HOUSE UNIT
$397,500 $367,500
-3.05% N/A
-7.56% -10.04%
1.10% 5.96%
$350 $300
172 10
4.58% 4.24%
81.76 85.5

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
Find a mortgage broker in Forrestfield WA
Demographics
Total population 11811
Median household income ($/weekly) 1302
Median age of persons 37
Median housing loan repayment ($/monthly) 1842
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1457 12.3
    25-34 years 1624 13.7
    35-44 years 1585 13.4
    45-54 years 1621 13.7
    55-64 years 1560 13.2
    Others 3965 33.6
    Age Group
    Census Count Percent(%)
    Registered Married 4026 46.6
    Not Married 3625 42.0
    Defacto Relationship 990 11.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 7942 71.6
    Indonesia 126 1.1
    Papua New Guinea 541 4.9
    United Kingdom 1183 10.7
    Other 420 3.8
    Others 874 7.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 108 1.0
    Christianity 6765 63.8
    Hinduism 53 0.5
    Islam 181 1.7
    No Religion 3429 32.4
    Others 61 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 384 10.0
    $1,000-$1,249 375 9.8
    $1,500-$1,999 552 14.4
    $2,000-$2,499 433 11.3
    $2,500-$2,999 337 8.8
    Others 1754 45.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3908 43.5
    Not in the labour force 2800 31.1
    Employed, worked part-time 1636 18.2
    Employed, away from work 368 4.1
    Unemployed, looking for work 280 3.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 619 10.5
    Technicians & trades workers 1141 19.3
    Clerical & administrative workers 1060 17.9
    Machinery operators & drivers 748 12.6
    Labourers 623 10.5
    Others 1725 29.2
    Occupation
    Census Count Percent(%)
    Pre-school 174 7.6
    Infants/Primary 932 40.8
    Secondary 613 26.9
    Technical or Further Educational Institution 222 9.7
    University or other Tertiary Institutions 288 12.6
    Others 53 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10329 93.9
    Semi-detached, row or terrace house, townhouse 528 4.8
    Flat, unit or apartment 40 0.4
    Caravan, cabin, houseboat 97 0.9
    House or flat attached to a shop, office 7 0.1
    Others 3 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1902 44.2
    Fully owned 1313 30.5
    Rented 949 22.0
    Other tenure type 144 3.3
    Tenure Type
Census 2011, ABS
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