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 -2.82%.
When looking at the potential capital gains offered to property investors over the last 3 years, Cannington comes in at number 141th in WA.
Property buyers and investors in Cannington 6107 should be seeing an average reduction in asking price of around -9.07% . This means that Cannington is holding prices well when compared to other suburbs in WA.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 2.38%, investors should hope to achieve an overall return of 4.23%
Property investors who have had real estate in Cannington, 6107 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 -13.26%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cannington has increased when compared to the 5 year average annual rate.
Vendor discounting in Cannington is giving property investors an average Vendor Discount of around -6.01%. This puts suburb at number 85th in WA when ranking the most discounted suburbs.
In the last year 28 properties changed hands in Cannington, which puts it as the 57th most active market in WA when comparing the number of sales per suburb.
Advertised rents are around the $330 mark per week – giving a return of 4.83% based on the median price in Suburb
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.