When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Cape Burney, 6532. Typically our figures indicate that -7.71% is being offered, which puts this WA suburb at 2460th most discounted overall in Australia.
Cape Burney is a coastal town just a few kilometres from Geraldton, in a southerly direction from the port.Full summary
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Cape Burney is a coastal town just a few kilometres from Geraldton, in a southerly direction from the port.
In mid 2006 Cape Burney saw something of a capital growth spike, with the median rising by $129,899 to reach $449,083 in the 21 months between June 2006 and March 2008, according to Residex figures. This upward trend continues until the end of the year, and Cape Burney caps off its growth spurt with a December 2008 median of $497,508.
From this point onwards however, Cape shows negative growth in five out of six quarters before a September quarter upturn leaves its median at $459,890.
First National Geraldton principal Andrew Short believes that Cape Burney is dominated by owner-occupiers, rather than investors.
“Cape Burney is probably the same distance south of the CBD as Drummond is to the north, but it’s mainly owner-occupier properties there. Pricing is more in the range for the average family, and it’s a good environment out there for average family lifestyle. It’s got a reasonably quick road access to the industrial area, so that’s attractive to people who work in that area,” he says.