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 -3.37%.
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.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Cannington, 6107. Typically our figures indicate that -9.35% is being offered, which puts this WA suburb at 466th most discounted overall in Australia.
At number 2314 in a list of fastest selling suburbs, Cannington is in the bottom 40% of suburbs in Australia with an average of days on market 90.58 for properties listed there.
Renters in Suburb are facing rents around $4200 per annum or $350 every week.
With a capital gain of -14.02% for the last 12 months, Cannington, 6107 has performed for property investments than its average annual 1.74% property growth over the last 5 years.
Cannington,6107 has offered an average of -14.02% return per annum in house price rises to property investors over the last three years.
Cannington, 6107 is offering WA ‘s 92th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this WA.
Property investors should expect to get $340 weekly from the median priced house in this 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.