With a capital gain of 6.00% for the last 12 months, Orelia, 6167 has performed for property investments than its average annual 0.89% property growth over the last 5 years.
Over the longer term, Orelia has seen property prices show investors a -3.12% return over the last 3 years. This is an improvement over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Orelia, 6167. Typically our figures indicate that -9.15% is being offered, which puts this WA suburb at 465th most discounted overall in Australia.
In the last year 53 properties changed hands in Orelia, which puts it as the 225th most active market in WA when comparing the number of sales per suburb.
Vendor discounting in Orelia is giving property investors an average Vendor Discount of around -12.00%. This puts suburb at number 7th in WA when ranking the most discounted suburbs.
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.