Property value increases in Orelia have tracked higher than the WA average of -4.17% over the last 12 months.
Across a shorter period, Orelia, 6167 has seen a median price increase of 5.50% over the last quarter.
The most recent median price for Orelia is $316500, with sellers offering an average of -8.58% off the asking price.
A $299.5 per week rent on the median house gives suburb investors a gross yield of circa 4.92%, without taking into account capital value appreciation, which has been averaging out at 0.72%.
Orelia, 6167 ranked 95th 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
Property investors looking for a bargain in Orelia should be aiming for at least -14.12% off the asking price, which is the average vendor discount being achieved at the moment.
Orelia, 6167’s gross rental yield is 7.15%
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.