Suburb Profile Report for Broome WA (6725)

Broome House: Median price $422,500, Annual capital growth 2.37%, Number of sales 26, Weekly median advertised rent $500

Broome Unit: Median price $195,000, Annual capital growth -4.20%, Number of sales 67, Weekly median advertised rent $335

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Broome, 6725 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -16.34%.

Over the longer term, Broome has seen property prices show investors a -36.47% return over the last 3 years. This is an improvement over the last 12 months

Broome6725 is located in WA which offers an average discount of -8.15% to property investors. Broome itself is showing figures that indicate -9.70% is the average achievable by property buyers investing in the suburb.

Residents and property investors in Broome have been waiting around 78.22 days to sell a property.

Advertised rents are around the $500 mark per week – giving a return of 6.15% based on the median price in Suburb

Investment property in Broome 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 -13.72%

Broome, 6725’s gross rental yield is 8.93%

Wes Green Information supplied by:

Wes Green
PRD Nationwide, Broome

M 0430058175
O

W www.prdbroome.com.au
E wes@prdbroome.com.au
The suburb of Broome is very versatile. There are multiple sized blocks, as well as old & new properties. Investors would buy for different reasons, to either redevelop or the buy new and to hold. The suburb will always be walking distance to the main precinct of Chinatown, and the bay.Full summary

Main selling points:

The suburb of Broome is very versatile. There are multiple sized blocks, as well as old & new properties. Investors would buy for different reasons, to either redevelop or the buy new and to hold. The suburb will always be walking distance to the main precinct of Chinatown, and the bay.

Most in demand properties:

Four bedroom properties are getting a lot more interest with growing families moving to Broome. The demand in this area is blocks that can be sub-divided and have development potential.

Typical homes:

The newer properties are the typical, steel framed, corrugated iron looking homes. The older properties in the area are old Pearling Masters’ homes that are full of charm and characterised by their large sweeping verandas.

Best amenities:

A highlight for the area is the proximity to two high schools, two primary schools, the town beach, the boulevard shopping centre, and Chinatown.

Major businesses and industry:

All small business in Chinatown and surrounding areas, the Broome Hospital, government departments located nearby and two large shopping centres.

Recent changes:

In the last ten years there has been a big increase of government offices being built or acquired in the town centre, the council have worked hard to improve the landscapes and gardens around town. More recently areas of Broome have been re-zoned which has offered developers and investors an opportunity to subdivide large blocks.

Best streets:

There is no doubt that the best street in Broome is Demco Drive - it has water view which is rare in Broome. There are other streets that have a good reputation, such as Stewart Street, Walcott Street, Barker Street, and Robinson Street.

Public transport:

There are a number of bus stops all in walking distance to wherever you live in Broome that runs on a 30 minute schedule. It is a privately run enterprise.

Access to attractions:

Being in a population of approximately 20,000, it only takes about 10 minutes to get from one side to the other, and the roads we have available are in very good condition and take more or less direct routes.

Close
HOUSE UNIT
$422,500 $195,000
5.63% 0.00%
-16.34% -13.72%
2.37% -4.20%
$500 $335
26 67
6.15% 8.93%
78.22 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (H), Balanced (U)
Find a mortgage broker in Broome WA
Demographics
Total population 4290
Median household income ($/weekly) 1208
Median age of persons 33
Median housing loan repayment ($/monthly) 2227
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 522 12.2
    25-34 years 785 18.3
    35-44 years 694 16.2
    45-54 years 610 14.2
    55-64 years 480 11.2
    Others 1198 27.9
    Age Group
    Census Count Percent(%)
    Not Married 1380 54.8
    Registered Married 642 25.5
    Defacto Relationship 496 19.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3031 80.0
    Papua New Guinea 104 2.7
    Philippines 66 1.7
    United Kingdom 173 4.6
    Other 194 5.1
    Others 220 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 64 1.9
    Christianity 2186 64.0
    Hinduism 21 0.6
    Islam 34 1.0
    No Religion 1088 31.9
    Others 21 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 101 8.9
    $1,000-$1,249 104 9.1
    $1,250-$1,499 103 9.0
    $1,500-$1,999 120 10.5
    $2,500-$2,999 112 9.8
    Others 601 52.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1363 46.3
    Not in the labour force 902 30.6
    Employed, worked part-time 416 14.1
    Employed, away from work 146 5.0
    Unemployed, looking for work 120 4.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 224 11.6
    Professionals 318 16.5
    Technicians & trades workers 342 17.7
    Community & personal service workers 261 13.5
    Clerical & administrative workers 256 13.3
    Others 526 27.3
    Occupation
    Census Count Percent(%)
    Pre-school 58 7.8
    Infants/Primary 302 40.4
    Secondary 170 22.7
    Technical or Further Educational Institution 92 12.3
    University or other Tertiary Institutions 113 15.1
    Others 13 1.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2150 62.4
    Semi-detached, row or terrace house, townhouse 499 14.5
    Flat, unit or apartment 483 14.0
    Caravan, cabin, houseboat 192 5.6
    House or flat attached to a shop, office 79 2.3
    Others 41 1.2
    Dwelling Structure
    Census Count Percent(%)
    Rented 828 63.4
    Being purchased 236 18.1
    Fully owned 230 17.6
    Other tenure type 12 0.9
    Tenure Type
Census 2011, ABS
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