Orelia is in the bottom 30% in WA when comparing median price capital growth over the last year. Orelia gave property investors a disappointing capital gain figure when compared to the rest of the state, with -8.40%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Orelia has increased when compared to the 5 year average annual rate.
The most recent median price for Orelia is $300000, with sellers offering an average of -7.19% off the asking price.
In the last year 74 properties changed hands in Orelia, which puts it as the 161th most active market in WA when comparing the number of sales per suburb.
The WA suburb of Orelia, 6167 is in the Kwinana local government area.
Orelia has had a very poor year for property investment returns compared to the rest of WA, giving investors a capital gain of -18.58% to date .
Property investors looking for a bargain in Orelia should be aiming for at least -12.44% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Orelia the average time real estate has been on the market is 172 days.
Renters in Suburb are facing rents around $2640 per annum or $220 every week.
Orelia has a good mix of older and newer properties that is beginning to attract first homebuyers and investors looking for some of the region’s best rental yieldsFull summary
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The last time Orelia racked up double digit growth was in 2007 when it notched up a staggering 20% annual growth. Since then, it’s been mostly downhill for the suburb with the exception of 2010 when it recorded a modest 4% increase in median value according to Residex. However, there are now indications that the worst is over for the suburb.
Local agent Sam Winmar says Orelia has a good mix of older and newer properties that is beginning to attract first-time homebuyers and investors looking for some of the region’s best rental yields. This lower priced suburb became a much more viable to option to young professionals following the opening of the nearby Kwinana rail station, which will get commuters to the CBD in 30 minutes. The Kwinana government is investing heavily in local infrastructure, and work has already begun to improve the nearby major shopping centre.
Best Street(s): Nottingham Parkway has several stately homes and faces the wildflower reserve, yet is just a short walk to the new Kwinana rail station.