Investment property in Australind has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.95%
Taking the average capital gain, or increase in median house value, Australind,6233 has racked up an average of -3.95% over the period. This ranks it number 3506th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Australind is giving property investors an average Vendor Discount of around -6.46%. This puts suburb at number 305th in WA when ranking the most discounted suburbs.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 0.34%, investors should hope to achieve an overall return of 4.99%
The five-year average increase in median property values for Australind,6233 has given property investors a potential capital gain of -5.68% across each of those five years.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.93% offered to property buyers. Sellers in Australind itself are offering an average vendor discount of -4.84% to real estate investors.
An hour and a half south of Perth, Australind is a suburb of WA’s second-largest regional town, Bunbury. It sits directly adjacent to the beautiful Leschenault Estuary, and views of the calm waters are a prized feature of Australind real estate.Full summary
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An hour and a half south of Perth, Australind is a suburb of WA’s second-largest regional town, Bunbury. It sits directly adjacent to the beautiful Leschenault Estuary, and views of the calm waters are a prized feature of Australind real estate.
After suffering the same price crash as many holiday towns in WA, some parts of Australind have staged a remarkable comeback. “Investors are back in the market,” says Trish Marsh, sales consultant at Allwest First National Real Estate. “But prices are going up only in specific areas of Australind, not across the board.”
The hottest property in town is in the Treendale area. The Junction at Treendale, due for completion in May 2011, will become a major regional shopping and entertainment hub and has already started to put upward pressure on real estate prices.
One area of the market that is not performing well is vacant land – and there is a lot of it. “I’ve got a block with estuary views, 360 degrees, two acres for $549,000,” says Marsh. “It’s the cheapest block out there and I can’t move it.” With building times blowing out and the expenses involved in preparing new land ($80,000 for a septic system alone), buyers would rather spend the money on an established property.
New estates, such as the Kingston subdivision on the east side of Australind, are proving very popular with investors and owner-occupiers alike. On the west side, buyers want estuary views but are staying away from Old Coast Road because of concerns about traffic noise.