WA has seen average median house prices change by -4.46% which means that Morley, 6062 has not done well for property investors by showing a capital gain of -3.78% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Morley has increased when compared to the 5 year average annual rate.
Vendor discounting in Morley is giving property investors an average Vendor Discount of around -8.29%. This puts suburb at number 151th in WA when ranking the most discounted suburbs.
Morley, 6062’s gross rental yield is 3.66%
If you compare the increase in value of investment property in Morley, 6062 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -4.29%.
While Morley,6062 ranked number 68th in WA for increase in median house value (annualised) increase, it is ranked 15th over the last 5 years.
The most recent median price for Morley is $373250, with sellers offering an average of -9.94% off the asking price.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 2.80%, investors should hope to achieve an overall return of 4.60%
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%.