Investment property in Cannington 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 -9.47%
When looking at the potential capital gains offered to property investors over the last 3 years, Cannington comes in at number 133th in WA.
Vendor discounting in Cannington is giving property investors an average Vendor Discount of around -8.60%. This puts suburb at number 127th in WA when ranking the most discounted suburbs.
Cannington, 6107’s gross rental yield is 4.23%
If you compare the increase in value of investment property in Cannington, 6107 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -14.48%.
Across a shorter period, Cannington, 6107 has seen a median price increase of -13.58% over the last quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.10% offered to property buyers. Sellers in Cannington itself are offering an average vendor discount of -5.16% to real estate investors.
Residents and property investors in Cannington have been waiting around 66.45 days to sell a property.
Cannington, 6107’s gross rental yield is 5.05%
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.