Suburb Profile Report for Drummond Cove WA (6532)

Drummond Cove House: Median price $390,000, Annual capital growth N/A, Number of sales 18, Weekly median advertised rent N/A

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

Source: CoreLogic

  • House Report
  • Expert Report

Drummond Cove,6532 was ranked 2717 in Australia by increase in median property value over the quarter.

Property buyers and investors in Drummond Cove 6532 should be seeing an average reduction in asking price of around -10.39% . This means that Drummond Cove is holding prices well when compared to other suburbs in WA.

Residents and property investors in Drummond Cove have been waiting around 112.28 days to sell a property.

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The coastal suburb of Drummond Cove isn’t a close suburb of Geraldton, but it’s within an easily commutable 15km of the thriving port.Full summary

The coastal suburb of Drummond Cove isn’t a close suburb of Geraldton, but it’s within an easily commutable 15km of the thriving port.

Drummond Cove did see a dip in median prices during the first half of 2009 in line with the GFC. However, it’s the only one out of the three that has already gone on to exceed its pre-GFC medians.

Drummond Cove’s timeline follows Geraldton’s fortune’s to peak in the last quarter of 2008 with a median price of $492,215, according to Residex figures, which then slumps drastically to $476,112 the following quarter.

Medians hovered at around the $480,000 mark for three quarters, but by the end of 2009 normal service was resumed with a final quarter median of $499,028 representing a new high. Growth has continued steadily, with Drummond Cove recording a median of $524,706 in September 2010.

First National Geraldton principal Andrew Short points out that Drummond Cove’s proximity to the site of a proposed new port may have kept investors keen.

“There’s a lot of land that’s been brought on to the market, and it’s attracting a fair amount of interest because there are plans to build a new port and rail facility at Oakajee, just north of Geraldton. Drummond Cove is half way between the city centre and the new port, and quite a few investors have purchased in that area and built investment properties for leasing,” he says.

Close
HOUSE UNIT
$390,000 N/A
-0.64% N/A
N/A N/A
N/A N/A
N/A N/A
18 N/A
N/A N/A
112.28 N/A

Source: CoreLogic

DSR Score for property investment : Poor (H), Balanced (U)
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Demographics
Total population 1150
Median household income ($/weekly) 1755
Median age of persons 33
Median housing loan repayment ($/monthly) 1918
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 200 17.4
    25-34 years 146 12.7
    35-44 years 212 18.4
    45-54 years 155 13.5
    55-64 years 108 9.4
    Others 331 28.7
    Age Group
    Census Count Percent(%)
    Registered Married 437 58.5
    Not Married 210 28.1
    Defacto Relationship 100 13.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 957 86.1
    Papua New Guinea 29 2.6
    South Africa 14 1.3
    United Kingdom 53 4.8
    Other 22 2.0
    Others 36 3.2
    Country of Birth
    Census Count Percent(%)
    Christianity 805 75.0
    No Religion 251 23.4
    Buddhism 8 0.7
    Other Religious Groups 5 0.5
    Islam 4 0.4
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 26 8.1
    $1,000-$1,249 29 9.0
    $1,500-$1,999 43 13.4
    $2,000-$2,499 44 13.7
    $2,500-$2,999 48 15.0
    Others 131 40.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 368 45.0
    Not in the labour force 206 25.2
    Employed, worked part-time 172 21.0
    Employed, away from work 47 5.7
    Unemployed, looking for work 25 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 82 13.9
    Professionals 84 14.2
    Technicians & trades workers 122 20.7
    Community & personal service workers 67 11.4
    Clerical & administrative workers 81 13.7
    Others 154 26.1
    Occupation
    Census Count Percent(%)
    Pre-school 23 7.7
    Infants/Primary 132 44.0
    Secondary 80 26.7
    Technical or Further Educational Institution 48 16.0
    University or other Tertiary Institutions 14 4.7
    Others 3 1.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1074 99.7
    Semi-detached, row or terrace house, townhouse 3 0.3
    Flat, unit or apartment 0 0.0
    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 172 45.4
    Rented 109 28.8
    Fully owned 95 25.1
    Other tenure type 3 0.8
    Tenure Type
Census 2011, ABS
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Recent sales & rentals