Suburb Profile Report for Palmyra WA (6157)

Palmyra House: Median price $647,500, Annual capital growth 3.10%, Number of sales 108, Weekly median advertised rent $450

Palmyra Unit: Median price $435,000, Annual capital growth 2.63%, Number of sales 62, Weekly median advertised rent $360

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Palmyra 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 -10.63%

Palmyra,6157 has offered an average of -10.63% return per annum in house price rises to property investors over the last three years.

The most recent median price for Palmyra is $647500, with sellers offering an average of -5.56% off the asking price.

Property investors who have had real estate in Palmyra, 6157 should be relatively 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 -2.25%

Palmyra,6157 was ranked 659 in Australia by increase in median property value over the quarter.

State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.08% offered to property buyers. Sellers in Palmyra itself are offering an average vendor discount of -4.92% to real estate investors.

With the median price for a house in Palmyra being $435000 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 4.30%

YIP MAG Information supplied by:

YIP MAG
September 2015

M
O

W
E
With its close proximity to Fremantle, the beach and Perth city, it’s no wonder this suburb is popular with professionals and familiesFull summary With its close proximity to Fremantle, the beach and Perth city, it’s no wonder this suburb is popular with professionals and families.

This leafy green suburb is located 12 kilometres from the Perth CBD, and families enjoy its parks, shops and schools within the suburb itself.

Palmyra’s popularity is shown by the fact that it has just 0.17% of stock on the market and the vacancy rate is a low 0.71%.

Moreover, units with a median price of $456,500 are generally much more affordable than neighbouring East Fremantle where the median price is $530,000.

There are two-bedroom units on Waddell Road which are close to a range of the area’s sought-after amenities including Melville Plaza, Melville Aquatic Fitness Centre, schools and transport links.

They are typically priced around the $400,000 mark.

Meanwhile, there are two-bedroom villas on Aurelian Street which are within walking distance of Palmyra Primary School and public transportClose
HOUSE UNIT
$647,500 $435,000
-1.89% 1.40%
-10.63% -2.25%
3.10% 2.63%
$450 $360
108 62
3.61% 4.30%
65.59 58.58

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Palmyra WA
Demographics
Total population 6609
Median household income ($/weekly) 1304
Median age of persons 39
Median housing loan repayment ($/monthly) 2000
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 671 10.2
    25-34 years 1048 15.9
    35-44 years 1133 17.1
    45-54 years 893 13.5
    55-64 years 756 11.4
    Others 2108 31.9
    Age Group
    Census Count Percent(%)
    Not Married 2336 47.5
    Registered Married 1953 39.7
    Defacto Relationship 628 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 4446 72.0
    Papua New Guinea 213 3.5
    South Africa 65 1.1
    United Kingdom 725 11.7
    Other 233 3.8
    Others 490 7.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 98 1.7
    Christianity 3803 64.4
    Hinduism 28 0.5
    Islam 44 0.7
    No Religion 1904 32.2
    Others 28 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 247 9.4
    $400-$599 279 10.6
    $600-$799 216 8.2
    $1,500-$1,999 308 11.7
    $2,500-$2,999 330 12.6
    Others 1248 47.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2255 44.0
    Not in the labour force 1514 29.5
    Employed, worked part-time 1032 20.1
    Employed, away from work 208 4.1
    Unemployed, looking for work 118 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 409 11.7
    Professionals 1048 30.0
    Technicians & trades workers 505 14.5
    Community & personal service workers 335 9.6
    Clerical & administrative workers 555 15.9
    Others 640 18.3
    Occupation
    Census Count Percent(%)
    Pre-school 82 6.4
    Infants/Primary 441 34.3
    Secondary 274 21.3
    Technical or Further Educational Institution 134 10.4
    University or other Tertiary Institutions 315 24.5
    Others 39 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4518 74.5
    Semi-detached, row or terrace house, townhouse 986 16.3
    Flat, unit or apartment 563 9.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1030 36.1
    Fully owned 931 32.6
    Rented 881 30.9
    Other tenure type 11 0.4
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals