At number 3595th in the list of Australian suburbs ordered by increase in median house value over the last year, Morley, 6062 is in the BOTTOM 20% with a property value increase of -4.94% recorded in median house prices.
Morley,6062 has offered an average of -4.94% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Morley should be aiming for at least -7.72% off the asking price, which is the average vendor discount being achieved at the moment.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 3.74%, without taking into account capital value appreciation, which has been averaging out at 1.44%.
Property value increases in Morley have tracked lower than the WA average of -4.49% over the last 12 months.
A 2.25% growth in median value for property investors in Morley,6062 puts this suburb at number 93th in terms of best performing suburbs in WA
The most recent median price for Morley is $341500, with sellers offering an average of -9.96% off the asking price.
Often selling an investment property can take time, and in Morley the average time real estate has been on the market is 135.25 days.
Morley is 35th on a list of best yielding suburbs for rents in WA with a 4.91% return
In Perth’s north-east, Morley is seeing more activity than many of its neighbouring suburbs.Full summary
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In Perth’s north-east, Morley is seeing more activity than many of its neighbouring suburbs.Close
Around 10km from Perth’s CBD, more than 350 houses in Morley have been sold over the past 12 months and the average period of 64 days that houses in Morley are on the market for is shorter than many nearby suburbs as well.
Morley is also outperforming its neighbours in terms of capital growth, with the median house price having increased by 19% over the last three years – increased buying could have something to do with people looking to get into the area before the median price rises much more above its current $560,000.
It could also be the result of people looking to take advantage of what Morley has to offer.
The suburb is dotted with parklands and is home to a number of quality schools.
There is great shopping available along Russell St and it is a short drive to Perth Airport.
Morley’s vacancy rate currently sits at 1.53%.