Orelia has had a very poor year for property investment returns compared to the rest of WA, giving investors a capital gain of -12.50% to date .
Over the longer term, Orelia has seen property prices show investors a -7.03% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Orelia is giving property investors an average Vendor Discount of around -7.02%. This puts suburb at number 265th in WA when ranking the most discounted suburbs.
With the median price for a house in Orelia being $297500 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.24%
Over the last year, property investments in Orelia, 6167 have given investors a capital gain of -19.29%. This compares very badly with the -3.64% for WA as a whole.
Orelia,6167 has offered an average of -19.29% return per annum in house price rises to property investors over the last three years.
Orelia, 6167 is offering WA ‘s 3rd most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this WA.
Often selling an investment property can take time, and in Orelia the average time real estate has been on the market is 172 days.
With the median price for a house in Orelia being $160000 and the advertised rent reaching $230 the gross rental yield for property investors calculates out to be 7.47%
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.