Investment property in Suburb has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.92%.
While The Vines,6069 ranked number 78th in WA for increase in median house value (annualised) increase, it is ranked 99th over the last 5 years.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -9.49% offered to property buyers. Sellers in The Vines itself are offering an average vendor discount of -10.44% to real estate investors.
In the last year 113 properties changed hands in The Vines, which puts it as the 136th most active market in WA when comparing the number of sales per suburb.
With the median price for a house in The Vines being $669000 and the advertised rent reaching $550 the gross rental yield for property investors calculates out to be 4.28%.
Selling points: Nestled in the heart of the picturesque Swan Valley region it boasts astounding views in many areas.
Most sought-after properties: House
Most common properties: House
Top amenities: The Vines Resort & Country Club
Local industry and business: Close proximity to Midland industrial & commercial areas. Situated 26km from the Perth GPO.
Recent changes: The area grows more & more popular because of its picturesque scenes, vineyards etc, with that comes the demand for more wineries that are forever opening.
Best streets: Pavilion Circle & surrounds
Public transport: No Bus or Train Station
Main arteries: Gnangara Road & West Swan Road