Suburb Profile Report for Noranda WA (6062)

Noranda House: Median price $570,000, Annual capital growth 1.06%, Number of sales 73, Weekly median advertised rent $420

Noranda Unit: Median price $327,500, Annual capital growth 1.02%, 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

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 -9.52%.

Taking the average capital gain, or increase in median house value, Noranda,6062 has racked up an average of -9.52% over the period. This ranks it number 3745th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -8.59% to buyers in Noranda at the moment, which is less than average for the rest of WA.

On average over the past year, suburb has had 6.08 sales per month, which equates to 73 per year.

A $420 per week rent on the median house gives suburb investors a gross yield of circa 3.83%, without taking into account capital value appreciation, which has been averaging out at 1.06%.

Investment property in Noranda has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -7.22%

At number 40th of WA’s most discounted properties, Noranda is in the bottom 40% of the state/territory when listing in order of most discounted to least.

Renters in Suburb are facing rents around $3600 per annum or $300 every week.

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
Metrics i HOUSE UNIT
$570,000 $327,500
0.00% N/A
-9.52% -7.22%
1.06% 1.02%
$420 $300
73 10
3.83% 4.76%
105.44 91.16

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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