Suburb Profile Report for Noranda WA (6062)

Noranda House: Median price $582,000, Annual capital growth 3.45%, Number of sales 80, Weekly median advertised rent $415

Noranda Unit: Median price $350,000, Annual capital growth 3.34%, Number of sales 11, Weekly median advertised rent $305

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Noranda, 6062 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -8.13%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Noranda has increased when compared to the 5 year average annual rate.

Sellers are offering property buyers an average discount of -8.58% to buyers in Noranda at the moment, which is less than average for the rest of WA.

Using the current median advertised rental of $415 and the average annual increase in value of a median property of 3.45%, investors should hope to achieve an overall return of 3.71%

At number 1511th in the list of Australian suburbs ordered by increase in median house value over the last year, Noranda, 6062 is in the BOTTOM 20% with a property value increase of -7.59% recorded in median house prices.

A 6.54% growth in median value for property investors in Noranda,6062 puts this suburb at number 42th in terms of best performing suburbs in WA

LACK OF BUYER INTEREST may well be the reason that Noranda is offering property investors an average of -7.57. This rate of discount on properties puts Suburb at number 7th in terms of most discounted suburbs in WA

In the last year 11 properties changed hands in Noranda, which puts it as the 107th most active market in WA when comparing the number of sales per suburb.

Advertised rents are around the $305 mark per week – giving a return of 4.53% based on the median price in Suburb

YIP MAG Information supplied by:

YIP MAG
September 2015

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Families looking for a peaceful and safe neighbourhood with excellent amenities would be wise to check out NorandaFull summary Families looking for a peaceful and safe neighbourhood with excellent amenities would be wise to check out Noranda.

Located 12km north-east of the Perth CBD, Noranda boasts quality schools, parks, medical facilities and the Noranda Shopping Village.

The proximity to the CBD and the great bus network also makes this a popular suburb for professionals.

Surging demand for this suburb has resulted in a vacancy rate which is less than 1%, and a drop of 18.6% of stock over the past 12 months, according to Real Estate Investar.

And even though the median house price is $632,000, according to CoreLogic RP Data, there are three-bedroom houses on streets such as Cardwell Avenue which can be picked up for between $550,000 and $600,000.

These houses have the added benefit of being close to shops, schools, parks and bus stops.Close
HOUSE UNIT
$582,000 $350,000
-3.00% -0.85%
-8.13% -7.59%
3.45% 3.34%
$415 $305
80 11
3.71% 4.53%
84.02 107.75

Source: CoreLogic

DSR Score for property investment : Balanced (H), Balanced (U)
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Demographics
Total population 8078
Median household income ($/weekly) 1416
Median age of persons 42
Median housing loan repayment ($/monthly) 1900
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 931 11.5
    25-34 years 852 10.5
    35-44 years 972 12.0
    45-54 years 1151 14.2
    55-64 years 1327 16.4
    Others 2845 35.2
    Age Group
    Census Count Percent(%)
    Registered Married 3620 57.3
    Not Married 2401 38.0
    Defacto Relationship 299 4.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 4513 58.0
    Japan 358 4.6
    United Kingdom 456 5.9
    Viet Nam 355 4.6
    Other 468 6.0
    Others 1628 20.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 473 6.2
    Christianity 5230 68.8
    Islam 267 3.5
    Judaism 408 5.4
    No Religion 1086 14.3
    Others 138 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 226 8.9
    $800-$999 227 8.9
    $1,500-$1,999 291 11.4
    $2,000-$2,499 266 10.5
    $2,500-$2,999 249 9.8
    Others 1286 50.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2584 39.7
    Not in the labour force 2146 33.0
    Employed, worked part-time 1345 20.7
    Employed, away from work 285 4.4
    Unemployed, looking for work 149 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 464 11.0
    Professionals 817 19.4
    Technicians & trades workers 673 16.0
    Clerical & administrative workers 746 17.7
    Sales 475 11.3
    Others 1042 24.7
    Occupation
    Census Count Percent(%)
    Pre-school 84 4.7
    Infants/Primary 601 33.9
    Secondary 503 28.4
    Technical or Further Educational Institution 147 8.3
    University or other Tertiary Institutions 402 22.7
    Others 35 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6928 89.3
    Semi-detached, row or terrace house, townhouse 755 9.7
    Flat, unit or apartment 68 0.9
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1378 49.4
    Being purchased 959 34.4
    Rented 434 15.6
    Other tenure type 17 0.6
    Tenure Type
Census 2011, ABS
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