Property investors who have had real estate in Victoria Park, 6100 should be unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.57%
Victoria Park,6100 was ranked 2059 in Australia by increase in median property value over the quarter.
Victoria Park6100 is located in WA which offers an average discount of -8.21% to property investors. Victoria Park itself is showing figures that indicate -6.48% is the average achievable by property buyers investing in the suburb.
At number 853th in the list of Australian suburbs ordered by increase in median house value over the last year, Victoria Park, 6100 is in the top half with a property value increase of 2.79% recorded in median house prices.
While Victoria Park,6100 ranked number 24th in WA for increase in median house value (annualised) increase, it is ranked 22th over the last 5 years.
Property investors looking for a bargain in Victoria Park should be aiming for at least -9.03% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 4.90%, investors should hope to achieve an overall return of 3.53%
Known as the eastern gateway to Perth’s CBD, Victoria Park offers an excellent location with some stunning riverside views.Full summary
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Known as the eastern gateway to Perth’s CBD, Victoria Park offers an excellent location with some stunning riverside views.
As three arterial roads intersect at the head of the suburb, located only 3km from the CBD, the word ‘accessible’ is a bit of an understatement.
The popularity of this suburb is clear, as houses only stay on the market for 26 days, one of the fastest selling rates in Perth.
Public transport in Victoria Park is also excellent: a number of bus routes pass through the suburb and a rail station is within walking distance.
Two shopping centres service the area and there are three schools, as well as cafes, restaurants, medical centres and Curtin University nearby.
Victoria Park’s median house price is a lot less expensive than neighbouring Burswood ($795,500) and Kensington ($892,000).
Three-bedroom homes ideal for families, on Mackie Street and Teague Street, can be bought for less than $580,000.
Selling points: Close to city & Swan River, restaurant & café precinct
Most sought after properties: Renovated & unrenovated character houses
Most common properties: Character houses & blocks of units
Top amenities: Swan River, restaurants & cafes, shops
Local industry and business: Restaurants, cafes, retail shops
Public transport: Buses & train station
Main arteries: Albany Hwy, Shepperton Rd, Canning Hwy, Kent StClose