Orelia has had a A very good year for property investment returns compared to the rest of WA, giving investors a capital gain of 4.80% to date .
Over the longer term, Orelia has seen property prices show investors a -1.86% return over the last 3 years. This is an improvement over the last 12 months
At number 197th of WA’s most discounted properties, Orelia is in the middle of the state/territory when listing in order of most discounted to least.
In the last year 66 properties changed hands in Orelia, which puts it as the 178th most active market in WA when comparing the number of sales per suburb.
Property value increases in Orelia have tracked lower than the WA average of -4.11% over the last 12 months.
Taking the average capital gain, or increase in median house value, Orelia,6167 has racked up an average of -20.00% over the period. This ranks it number 1649th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Orelia is $160000, with sellers offering an average of -15.29% off the asking price.
A $220 per week rent on the median house gives suburb investors a gross yield of circa 7.15%, without taking into account capital value appreciation, which has been averaging out at -3.40%.
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.