Suburb Profile Report for Cowaramup WA (6284)

Cowaramup House: Median price $535,000, Annual capital growth 12.59%, Number of sales 27, Weekly median advertised rent $385

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

Source: CoreLogic

  • House Report
  • Expert Report

At number 2897th in the list of Australian suburbs ordered by increase in median house value over the last year, Cowaramup, 6284 is in the BOTTOM 40% with a property value increase of -0.19% recorded in median house prices.

Cowaramup,6284 has offered an average of -0.19% return per annum in house price rises to property investors over the last three years.

Property investors looking for a bargain in Cowaramup should be aiming for at least -5.54% off the asking price, which is the average vendor discount being achieved at the moment.

Cowaramup, 6284’s gross rental yield is 3.74%

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Sitting 12km north of Margaret River, Cowaramup’s astonishing average annual growth rate of 16.43% saw its median property price increase 20-fold in 20 years, rising from $23,499 in September 1990 to $484,948 in September 2010.Full summary

Sitting 12km north of Margaret River, Cowaramup’s astonishing average annual growth rate of 16.43% (Residex) has seen its median property price increase 20-fold in 20 years, rising from $23,499 in September 90 to $484,948 in September 10.

Marketed as being the centre of the Margaret River wine region, Cowaramup is probably best known for hosting the annual Margaret River Wine Festival. Its population was 569 at the last Census in 2006, but numbers swell during the peak season when visitors flock to the area to explore the local wineries, beaches and countryside. An average of 455,400 visitors come to the Shire of Augusta-Margaret River each year, according to Tourism WA figures.

Cowaramup’s timeline shows remarkable consistency, with capital growth going along steadily between 1990 and 2008. In fact, Cowaramup saw an incredible 71 consecutive quarters of positive growth between September 1990 and June 2008, with its median rising from $23,499 to $499,053, according to Residex figures.

From here on things go awry, with four out of the next nine quarters recording negative growth, indicating that even Western Australia’s most consistent performer wasn’t immune to the GFC. Prices have crept up recently, but Cowaramup’s September 10 median of $484,948 is still $14,105 shy of its pre-GFC peak.

Cowaramup’s expansion prospects may have taken a hit recently, but it’s still in the midst of an ambitious plan to more than triple its population in line with pre-GFC population growth.

“In 1993 the Shire recognised that growth was going to be much bigger than they’d planned for, so they asked the local farmers if they’d be happy to release some land to deal with that pressure,” says Stocker Preston Cowaramup Principal Jill Turton.

“Then in 2001 the Shire put a strategy in place to grow Cowaramup town, which was at the time about 600 residents, to about 3,000 residents.  And we’re currently in that growth programme.”

Census figures for the Cowaramup Urban Centre indicate that population growth was strong over the last decade, with resident numbers rising from 375 in 2001 to 569 in 2006. The proportion of occupied dwellings that were rented also rose during this period from 26.7% to 30.7% (33% for the larger ‘State Suburb’ category).

Close
HOUSE UNIT
$535,000 N/A
N/A N/A
-0.19% N/A
12.59% N/A
$385 N/A
27 N/A
3.74% N/A
139.04 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Balanced (H)
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Demographics
Total population 1132
Median household income ($/weekly) 1254
Median age of persons 37
Median housing loan repayment ($/monthly) 2000
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 180 15.9
    25-34 years 146 12.9
    35-44 years 224 19.8
    45-54 years 154 13.6
    55-64 years 123 10.9
    Others 304 26.9
    Age Group
    Census Count Percent(%)
    Registered Married 402 57.8
    Not Married 196 28.2
    Defacto Relationship 98 14.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 892 84.9
    Papua New Guinea 29 2.8
    South Africa 9 0.9
    United Kingdom 69 6.6
    Other 23 2.2
    Others 29 2.8
    Country of Birth
    Census Count Percent(%)
    Christianity 560 57.0
    No Religion 406 41.3
    Buddhism 10 1.0
    Hinduism 3 0.3
    Other Religious Groups 3 0.3
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 36 11.1
    $800-$999 35 10.8
    $1,250-$1,499 35 10.8
    $1,500-$1,999 43 13.3
    $2,000-$2,499 36 11.1
    Others 138 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 313 40.3
    Employed, worked part-time 231 29.7
    Not in the labour force 173 22.3
    Employed, away from work 47 6.0
    Unemployed, looking for work 13 1.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 142 24.1
    Professionals 85 14.5
    Technicians & trades workers 99 16.8
    Community & personal service workers 56 9.5
    Labourers 71 12.1
    Others 135 23.0
    Occupation
    Census Count Percent(%)
    Pre-school 25 10.1
    Infants/Primary 128 51.6
    Secondary 54 21.8
    Technical or Further Educational Institution 23 9.3
    University or other Tertiary Institutions 15 6.0
    Others 3 1.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 922 95.7
    Semi-detached, row or terrace house, townhouse 37 3.8
    Flat, unit or apartment 4 0.4
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 167 44.2
    Rented 116 30.7
    Fully owned 92 24.3
    Other tenure type 3 0.8
    Tenure Type
Census 2011, ABS
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Recent sales & rentals