Rockingham is in the bottom 30% in WA when comparing median price capital growth over the last year. Rockingham gave property investors a disappointing capital gain figure when compared to the rest of the state, with -9.38%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Rockingham has increased when compared to the 5 year average annual rate.
Vendor discounting in Rockingham is giving property investors an average Vendor Discount of around -8.16%. This puts suburb at number 160th in WA when ranking the most discounted suburbs.
In the last year 190 properties changed hands in Rockingham, which puts it as the 22th most active market in WA when comparing the number of sales per suburb.
With a capital gain of 5.08% for the last 12 months, Rockingham, 6168 has performed for property investments than its average annual 1.17% property growth over the last 5 years.
The five-year average increase in median property values for Rockingham,6168 has given property investors a potential capital gain of 8.58% across each of those five years.
Property investors looking for a bargain in Rockingham should be aiming for at least -7.94% off the asking price, which is the average vendor discount being achieved at the moment.
Rockingham is 56th on a list of best yielding suburbs for rents in WA with a 4.53% return
South of Perth, looking out at Rottnest Island, Rockingham is on the grow due to its coastal location, access to the CBD and the burgeoning resources industry.
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Tourists already flock to the area for the relaxed lifestyle, picturesque outlook, ocean front cafe strips and much more. Rockingham is set to benefit from rising rents in neighbouring suburbs, which have access to a BHP oil refinery and numerous resources-based businesses.
The suburb has undergone a facelift over the last decade and now offers highrise apartments and newly developed communities. Older properties in the area are now ripe for renovation.Full summary
Selling points: We are in a fortunate place that offers so much, eg we are positioned alongside the ocean (sea side suburb) with many tourist attractions. The other main selling point is the relaxed lifestyle we offer as we have the ocean café strips and the best beaches that face north. The property pricing stems from low $200,000 to multimillion dollar.
Most sought after properties: We have a great range of three bedroom properties around the $300 to $350,000 mark and new properties in the Baldivis area that are four bed, two bathroom. This suburb is a new area with approximately 3,000 homes and the potential for 11,000 plus over the next few years and it is still only 15 minutes to the ocean.
Most common properties: In Rockingham many homes are 25 years old, however some are at the stage they could be replace with new or renovated. The Baldivis area however is all new and the oldest home may be only seven or so years old.
Top amenities: As above. However, the schooling and University plus the TAFE College are of good quality.
Local industry and business: We have in the adjoining suburb an industrial area that has BHP and various mining suppliers, manufacturers, eg steel boiler making, etc. This is a strong draw card for trades and labour forces. The rentals are strong in these areas and hence many big real estate offices manage large rent rolls.
Recent changes: The area now has various multi-storey high rise apartments overlooking the bay/ocean.
Best streets: Hard question and one that would conflict with many of our clients that we currently have listed, however I believe the ocean front, or closer to the ocean areas are in strong demand. The price is higher though, as you can imagine.
Public transport: Excellent as we have trains to the city and a free shuttle bus to the major points of interest, such as the ocean front and major shopping centre.