Suburb Profile Report for Kalgoorlie WA (6430)

Kalgoorlie House: Median price $290,000, Annual capital growth 6.38%, Number of sales 52, Weekly median advertised rent $350

Kalgoorlie Unit: Median price $185,000, Annual capital growth 3.21%, Number of sales 14, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Kalgoorlie, 6430 have given investors a capital gain of -10.36%. This compares very badly with the -5.25% for WA as a whole.

Across a shorter period, Kalgoorlie, 6430 has seen a median price increase of -1.69% over the last quarter.

Vendor discounting in Kalgoorlie is giving property investors an average Vendor Discount of around -9.51%. This puts suburb at number 86th in WA when ranking the most discounted suburbs.

With a capital gain of -43.77% for the last 12 months, Kalgoorlie, 6430 has performed for property investments than its average annual 3.21% property growth over the last 5 years.

If we look at median property appreciation over just the last three months, Kalgoorlie has given property investors a paper return of -13.15%. This puts Suburb as 101 on a list of fastest fasting appreciating suburbs in WA

Advertised rents are around the $300 mark per week – giving a return of 8.43% based on the median price in Suburb

Mark Brennan Information supplied by:

Mark Brennan
John Matthew and Sons

M 0417 907 787
O (08) 9080 1900

W www.jmsons.com.au
E mrb@jmsons.com.au
Kalgoorlie plays host to Western Australia's 'super pit', which rates among the biggest open-cut gold mines on the planet. The town itself is north-east from Perth and around halfway to the South Australian border.
Kalgoorlie is a service centre for the north-eastern gold mining region and also contains substantial deposits of nickel.
The mining sector brings great cash flow opportunities for investors in many towns and Kalgoorlie is no different in this regard. Rental returns of 8-9% are being supported by a low vacancy rate, which currently sits below 1%. This also means that two-bedroom units are hot items for investors.
Growing interest in the town has seen the emergence of quality cafes and restaurants, as well as a top shelf golf course, numerous junior sports clubs and regular direct flights to Melbourne and Adelaide.Full summary

Selling points: Kalgoorlie-Boulder is a city of just over 30,000 people, being the home of the ‘Super Pit’, one of the largest open-cut gold mines in the world. Significant nickel deposits exist in the area, and it’s a service centre for the whole north-eastern goldfields. There is a large government sector based in the area and very strong rental returns have always been a feature of the real estate scene.

Most sought after properties: Character houses are always in demand, but with the current very low vacancy rate (around 1%) two by two units and three by two units are keenly sought after.

Sales in the $350,000 - $450,000 range are currently most common for owner occupiers, whilst investors are seeking and finding, 8% - 9% returns on purchase prices of $220,000 - $290,000.

Most common properties: The housing market in Kalgoorlie has matured greatly in the last 10 years, with modern estates popping up to satisfy demand for good quality family homes.  New four by twos with pool and shed can be purchased for $550,000 - $600,000. These properties will be rented out for $650 - $700 per week.

Top amenities: Although a working town, sport has always been a feature of living on the Goldfields with every conceivable junior sport available to families. Cafes and good quality restaurants have sprung up and with direct flights to Adelaide and Melbourne available several times a week, Kalgoorlie-Boulder is a very easy place in which to live.

Local industry and business: Mining, education, police and health make up a significant proportion of the local population, with the mining services and support industries being the main players.

Recent changes: An active city council has implemented a wonderful ‘greening’ of the city, and with the recent addition of a world class, grassed golf course, with resort to come, living in Kalgoorlie-Boulder just keeps on getting better.

Best streets: The beauty of Kalgoorlie-Boulder real estate is its diversity.  From beautiful turn of the century character homes in wide, tree lived streets, to modern 2 x 2 apartments, or comfortable family homes still on 1012m² lots, with sheds/pools/yard for the kids, the choice is there for a wide variety of family structures and just as importantly, budgets.

Public transport: Daily train services to Perth and numerous daily flights to and from Perth, eliminate any feeling previous feelings of isolation. 

Main arteries: With 400km to the beautiful beaches of Esperance, a very good highway to Perth, or just over a two hour flight to Adelaide, which then opens up the rest of Australia to the residents of Kalgoorlie-Boulder.... it just keeps getting better.

Close
HOUSE UNIT
$290,000 $185,000
-1.69% -13.15%
-10.36% -43.77%
6.38% 3.21%
$350 $300
52 14
6.28% 8.43%
104.53 N/A

Source: CoreLogic

DSR Score for property investment : Below average (H), Below average (U)
Find a mortgage broker in Kalgoorlie WA
Demographics
Total population 4244
Median household income ($/weekly) 1820
Median age of persons 31
Median housing loan repayment ($/monthly) 1842
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 442 10.4
    20-24 years 471 11.1
    25-34 years 877 20.7
    35-44 years 640 15.1
    45-54 years 621 14.6
    Others 1193 28.1
    Age Group
    Census Count Percent(%)
    Not Married 1088 43.7
    Registered Married 960 38.5
    Defacto Relationship 444 17.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2383 67.6
    Papua New Guinea 376 10.7
    Philippines 129 3.7
    United Kingdom 129 3.7
    Other 143 4.1
    Others 367 10.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 55 1.7
    Christianity 2167 65.2
    Hinduism 40 1.2
    Islam 31 0.9
    No Religion 1000 30.1
    Others 32 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 84 7.2
    $1,500-$1,999 184 15.7
    $2,000-$2,499 119 10.1
    $2,500-$2,999 183 15.6
    $3,000-$3,499 109 9.3
    Others 494 42.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1617 55.6
    Not in the labour force 638 21.9
    Employed, worked part-time 426 14.6
    Employed, away from work 121 4.2
    Unemployed, looking for work 108 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 356 16.5
    Technicians & trades workers 423 19.6
    Clerical & administrative workers 248 11.5
    Machinery operators & drivers 348 16.1
    Labourers 235 10.9
    Others 552 25.5
    Occupation
    Census Count Percent(%)
    Pre-school 46 6.2
    Infants/Primary 256 34.4
    Secondary 143 19.2
    Technical or Further Educational Institution 67 9.0
    University or other Tertiary Institutions 220 29.6
    Others 12 1.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2277 72.9
    Semi-detached, row or terrace house, townhouse 425 13.6
    Flat, unit or apartment 410 13.1
    House or flat attached to a shop, office 12 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 648 50.2
    Being purchased 429 33.3
    Fully owned 207 16.0
    Other tenure type 6 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals