Orelia, 6167 ranked 104th in WA when comparing growth in median property values or capital gain over the last 12 months. Orelia is one of 1662 in our list for WA
Over the longer term, Orelia has seen property prices show investors a -4.98% return over the last 3 years. This is an improvement over the last 12 months
Sellers are offering property buyers an average discount of -7.52% to buyers in Orelia at the moment, which is less than average for the rest of WA.
Renters in Suburb are facing rents around $3600 per annum or $300 every week.
If you compare the increase in value of investment property in Orelia, 6167 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -15.79%.
Orelia,6167 has offered an average of -15.79% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Orelia should be aiming for at least -11.80% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1452 in a list of fastest selling suburbs, Orelia is in the bottom 10% of suburbs in Australia with an average of days on market 158.63 for properties listed there.
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.