At number 3775th in the list of Australian suburbs ordered by increase in median house value over the last year, Cannington, 6107 is in the BOTTOM 10% with a property value increase of -9.58% recorded in median house prices.
While Cannington,6107 ranked number 165th in WA for increase in median house value (annualised) increase, it is ranked 82th over the last 5 years.
At number 136th of WA’s most discounted properties, Cannington is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Cannington have been waiting around 77.35 days to sell a property.
Renters in Suburb are facing rents around $4320 per annum or $360 every week.
Cannington is an average performer in WA when comparing median price capital growth over the last year. Cannington gave property investors a average capital gain figure when compared to the rest of the state, with -5.43%.
Cannington,6107 has offered an average of -5.43% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Cannington should be aiming for at least -6.97% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Cannington have been waiting around 88.88 days to sell a property.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 3.41%, investors should hope to achieve an overall return of 4.75%
Cannington is just 13km from the Perth CBD and close to both the Perth Airport and FremantleFull summary
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Cannington is just 13km from the Perth CBD and close to both the Perth Airport and Fremantle.Close
Transport to all these areas is relatively easy, thanks to the suburb’s proximity to major roads (such as the Albany Highway) and the Cannington, Beckenham and Queens Park railway stations.
Within the suburb is one of Perth’s largest shopping complexes, Westfield Carousel.
Cannington is also not far from Bentley Hospital, Curtin University and quality schools.
This suburb is therefore popular with a wide demographic, including families, professionals and students.
It also helps that it’s generally green and serene.
Even though there a few areas that are somewhat affected by aircraft noise, this is something many residents are not too concerned about.
This year, a plan was put forward for a proposed third runway and a new terminal, potentially creating many more employment opportunities for the area.
Perth Airport already provides 17,800 jobs and contributes $2.61bn to the gross regional product of WA.
There are also industrial areas nearby in suburbs such as Welshpool and Kewdale which provide excellent opportunities for Cannington’s residents.
Houses on Crawford Street are close to buses, trains, Westfield Carousel and Curtin University.
Three-bedroom houses can be bought there for less than $500,000.