Bibra Lake, 6163 ranked 283th in WA when comparing growth in median property values or capital gain over the last 12 months. Bibra Lake is one of 1662 in our list for WA
While Bibra Lake,6163 ranked number 302th in WA for increase in median house value (annualised) increase, it is ranked 80th over the last 5 years.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.04% offered to property buyers. Sellers in Bibra Lake itself are offering an average vendor discount of -7.70% to real estate investors.
On average over the past year, suburb has had 6.42 sales per month, which equates to 77 per year.
Using the current median advertised rental of $440 and the average annual increase in value of a median property of 3.80%, investors should hope to achieve an overall return of 4.32%
With a capital gain of -6.71% for the last 12 months, Bibra Lake, 6163 has performed for property investments than its average annual 5.15% property growth over the last 5 years.
Over the longer term, Bibra Lake has seen property prices show investors a 6.60% return over the last 3 years. This is worse than over the last 12 months
On the surface, Bibra Lake would seem like a fish out of the water. Its $460,000 median house price is almost belittled by its direct neighbours such as Leeming, Murdoch and Jandakot, which are all priced above $600,000. Delve a little closer to Bibra Lake’s shores and the difference becomes even more remarkable. Some 15km from the Perth CBD, Bibra Lake houses are not substantially smaller or worse placed than any neighbouring areas. Full summary
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On the surface, Bibra Lake would seem like a fish out of the water. Its $460,000 median house price is almost belittled by its direct neighbours such as Leeming, Murdoch and Jandakot, which are all priced above $600,000.
Delve a little closer to Bibra Lake’s shores and the difference becomes even more remarkable. Some 15km from the Perth CBD, Bibra Lake houses are not substantially smaller or worse placed than any neighbouring areas. There are no landfill sites, noisy thoroughfare traffic or public housing to justify the gapping difference in prices – at least not anymore. Once a light industrial area, the suburb’s industry is being scaled back and in its place a popular residential suburb is emerging. Lately, houses are being sold fairly quickly here – just 71 days on the market. Those properties that are within the hands of owners are tightly held, only 0.12% of properties in the suburb are on the market.
The real kicker for the suburb is that, despite being cheaper than its neighbours, it is actually closer to the majority of recreational facilities within this region of Perth. Bibra Lake is the location for several major private recreation facilities, including Adventure World Theme Park, a bungee jumping tower, an ice arena, paintball and laser tag operations and, not least of all, a lake with a surrounding green area popular with families.
Greg Chapman, a real estate agent within the area, says another thing to consider is that the area will soon be the location of the new Fiona Stanley Hospital – which he says should be enough to get investors excited as hospital staff search for properties close to their workplace.
Popular recreational area
Soon to be built hospital