Orelia is in the TOP 20% in WA when comparing median price capital growth over the last year. Orelia gave property investors a very good capital gain figure when compared to the rest of the state, with 3.83%.
When looking at the potential capital gains offered to property investors over the last 3 years, Orelia comes in at number 200th in WA.
Our latest figures would indicate that property sellers in Orelia are currently offering property investors an average price cut of -9.35% below the asking price at the moment.
Residents and property investors in Orelia have been waiting around 120.26 days to sell a property.
With the median price for a house in Orelia being $311500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.84%
With a capital gain of -17.95% for the last 12 months, Orelia, 6167 has performed for property investments than its average annual -3.31% property growth over the last 5 years.
Orelia,6167 has offered an average of -17.95% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Orelia 6167 should be seeing an average reduction in asking price of around -14.12% . This means that Orelia is holding prices well when compared to other suburbs in WA.
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.