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