Suburb Profile Report for Palmyra WA (6157)

Palmyra House: Median price $600,000, Annual capital growth 1.18%, Number of sales 116, Weekly median advertised rent $385

Palmyra Unit: Median price $440,000, Annual capital growth 1.77%, Number of sales 51, Weekly median advertised rent $330

  • 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 -9.09%

Across a shorter period, Palmyra, 6157 has seen a median price increase of -3.23% over the last quarter.

Vendor discounting in Palmyra is giving property investors an average Vendor Discount of around -7.62%. This puts suburb at number 194th in WA when ranking the most discounted suburbs.

On average over the past year, suburb has had 9.67 sales per month, which equates to 116 per year.

Palmyra is 311th on a list of best yielding suburbs for rents in WA with a 3.34% return

WA has seen average median house prices change by -5.01% which means that Palmyra, 6157 has not done well for property investors by showing a capital gain of 2.56% over the last year

The five-year average increase in median property values for Palmyra,6157 has given property investors a potential capital gain of 6.67% across each of those five years.

Vendor discounting in Palmyra is giving property investors an average Vendor Discount of around -5.86%. This puts suburb at number 91th in WA when ranking the most discounted suburbs.

At number 735 in a list of fastest selling suburbs, Palmyra is just in the top half of suburbs in Australia with an average of days on market 73.56 for properties listed there.

The WA suburb of Palmyra, 6157 is in the Melville local government area.

YIP MAG Information supplied by:

YIP MAG
September 2015

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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
Metrics i HOUSE UNIT
$600,000 $440,000
-3.23% 0.00%
-9.09% 2.56%
1.18% 1.77%
$385 $330
116 51
3.34% 3.90%
76.4 73.56

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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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
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Recent sales & rentals