Suburb Profile Report for Mandurah WA (6210)

Mandurah House: Median price $305,000, Annual capital growth -0.41%, Number of sales 123, Weekly median advertised rent $300

Mandurah Unit: Median price $296,500, Annual capital growth -1.83%, Number of sales 164, Weekly median advertised rent $300

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Giving property investors a a poor capital gain of -7.58% for the last year, Mandurah, 6210 is the 3656th highest performer in Australia in this respect.

Across a shorter period, Mandurah, 6210 has seen a median price increase of 0.00% over the last quarter.

At number 66th of WA’s most discounted properties, Mandurah is in the bottom 20% of the state/territory when listing in order of most discounted to least.

A $300 per week rent on the median house gives suburb investors a gross yield of circa 5.11%, without taking into account capital value appreciation, which has been averaging out at -0.41%.

At number 1251th in the list of Australian suburbs ordered by increase in median house value over the last year, Mandurah, 6210 is in the BOTTOM 30% with a property value increase of -2.15% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Mandurah comes in at number 102th in WA.

At number 42th of WA’s most discounted properties, Mandurah is in the middle of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Mandurah the average time real estate has been on the market is 134.27 days.

A $300 per week rent on the median house gives suburb investors a gross yield of circa 5.26%, without taking into account capital value appreciation, which has been averaging out at -1.83%.

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Once a property darling, Mandurah’s been off the boil for some time – but it’s still looking like a good option for investors seeking affordable properties with excellent long-term growth prospects.Full summary

Once a property darling, Mandurah’s been off the boil for some time – but it’s still looking like a good option for investors seeking affordable properties with excellent long-term growth prospects.

The key to Mandurah’s long-term appeal is its jet-propelled population growth. ABS figures show that the city’s population grew by a staggering 19% between 2005 and 2009 – that’s nearly 4% a year. That growth is set to continue, too: projections from the City of Mandurah forecasts the population for the metropolitan area alone to increase from 72,722 to 116,134 over the next 20 years – an increase of 59.6%. That population growth is potentially also one of the reasons that the HIA listed Mandurah the location which will have the eighth-largest shortfall of properties by 2020 (a projected shortage of over 6,200 dwellings).

What’s the attraction? Well, Mandurah forms the southern end of a stretch of towns south of Perth (also including Rockingham, Port Kennedy and Secret harbour) that provides both affordable housing for people moving from Perth – particularly young families and sea changers – as well as a service centre for mining industries in the hinterlands to the east of the city and a thriving local economy.

While the city is 72km from Perth, the Perth-Mandurah line – completed in 2007 after lengthy delays – provides transport to the centre of Perth in 48 minutes. Road access to Perth is also relatively quick via the Kwinana Freeway.

Mandurah’s amenities are plentiful: there are five shopping centres, a number of public and private schools, a hospital, a campus of Murdoch university, a TAFE, two zoos, and plentiful parks and sporting facilities. It’s also renowned for its foreshore, protected waterways such the Peel Inlet and Harvey Estuary and ocean beaches, making it a popular tourist and lifestyle location. Whale and dolphin spotting, boating and watersports are all being well catered for. It’s also acts as the unofficial gateway to the south-west, with national parks, the Dwellingup state forest and the Margaret River within driving distance.

Local employment is driven by tourism, manufacturing, retail and a number of local mines: the Huntly mine in Pinjarra is the largest bauxite mine and alumina refinery in the world, and the Boddington gold mine has recently become Australia’s largest gold mine.

In response to the projected population growth, Mandurah’s also undergoing civic improvement, with a major revitalisation of Mandurah’s city centre and foreshore precincts, better transport linkages to the City’s foreshore and greater tertiary education opportunities – while still preserving bushland and waterways Significant housing development opportunities have been identified in almost all areas in the City of Mandurah, most notably Lakelands, Dawesville-Bouvard-Herron-Clifton, Mandurah and Halls Head. Mandurah is also one of the early locations to benefit from the National Broadband Network.

Now may be a good time to buy, too: the Mandurah market has followed Perth in seeing value falls after a period of strong growth up to 2008, although RP Data figures suggest only the unit market in Halls Head has seen large falls. Long-term growth figures vary between 12% and 18% pa, but properties are still affordable, with median prices typically between $280,000 and $450,000. This is likely to stand Mandurah in good stead with buyers priced out of the Perth market. Rental yields remain robust, and are typically between 4% and 5%. Vacancy rates are relatively tight at 2.4%.

Overall, Mandurah ticks an awful lot of boxes when it comes to investment fundamentals – particularly diverse industry, closeness to the state capital and surging population growth and lifestyle benefits, while still being affordable and having excellent long-term growth potential.

Close
HOUSE UNIT
$305,000 $296,500
0.00% 2.24%
-7.58% -2.15%
-0.41% -1.83%
$300 $300
123 164
5.11% 5.26%
107.22 134.27

Source: CoreLogic

DSR Score for property investment : Below average (H), Balanced (U)
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Demographics
Total population 7327
Median household income ($/weekly) 679
Median age of persons 46
Median housing loan repayment ($/monthly) 1485
Average household size 1.9
  • Census Count Percent(%)
    25-34 years 886 12.1
    35-44 years 800 10.9
    45-54 years 955 13.0
    55-64 years 996 13.6
    65-74 years 872 11.9
    Others 2819 38.5
    Age Group
    Census Count Percent(%)
    Not Married 3113 56.7
    Registered Married 1814 33.0
    Defacto Relationship 568 10.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4822 71.7
    Papua New Guinea 298 4.4
    Philippines 83 1.2
    United Kingdom 892 13.3
    Other 177 2.6
    Others 457 6.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 119 1.9
    Christianity 4307 67.0
    Hinduism 54 0.8
    Other Religious Groups 68 1.1
    No Religion 1837 28.6
    Others 47 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 490 15.8
    $400-$599 563 18.2
    $600-$799 369 11.9
    $800-$999 330 10.7
    $1,000-$1,249 238 7.7
    Others 1102 35.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2872 49.6
    Employed, worked full-time 1532 26.4
    Employed, worked part-time 832 14.4
    Unemployed, looking for work 359 6.2
    Employed, away from work 200 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 280 10.9
    Technicians & trades workers 511 19.9
    Community & personal service workers 309 12.0
    Clerical & administrative workers 285 11.1
    Labourers 380 14.8
    Others 800 31.2
    Occupation
    Census Count Percent(%)
    Pre-school 53 5.6
    Infants/Primary 346 36.7
    Secondary 206 21.8
    Technical or Further Educational Institution 164 17.4
    University or other Tertiary Institutions 135 14.3
    Others 40 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3499 54.0
    Semi-detached, row or terrace house, townhouse 2037 31.4
    Flat, unit or apartment 804 12.4
    Caravan, cabin, houseboat 129 2.0
    House or flat attached to a shop, office 11 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1931 57.8
    Fully owned 889 26.6
    Being purchased 454 13.6
    Other tenure type 69 2.1
    Tenure Type
Census 2011, ABS
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