Over the last year, property investments in Derby, 6728 have given investors a capital gain of -32.00%. This compares very badly with the -3.58% for WA as a whole.
If we look at median property appreciation over just the last three months, Derby has given property investors a paper return of -2.86%. This puts Suburb as 305 on a list of fastest fasting appreciating suburbs in WA
Derby6728 is located in WA which offers an average discount of -8.23% to property investors. Derby itself is showing figures that indicate -10.18% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 1.83 sales per month, which equates to 22 per year.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of -2.06%, investors should hope to achieve an overall return of 10.71%
While the bulk of Western Australia’s recent successes on the property front have been in the Pilbara region, Kimberley has been making a name for itself of late, and Derby is most certainly one to watch there.Full summary
Information supplied by:
While the bulk of Western Australia’s recent successes on the property front have been in the Pilbara region, Kimberley has been making a name for itself of late, and Derby is most certainly one to watch there.
What it’s got going for it, says Crawford Realty sales consultant Morgan Crawford, is a whole slew of government and resource related projects that are in the pipeline.
“There are quite a few government projects that have been proposed – a new prison for example. And if you have a look at RP Data you’ll notice that the rental market has tightened up hugely, and rental prices have jumped up 10-15% in the last six months,” he says.
Fuelling this rental growth is an extremely low vacancy rate. In fact, Derby’s vacancy rate has been at 0% for more than two years according to SQM Research figures.
As well as the construction of the $150m Derby Regional Prison, Derby’s property market is expected to benefit from the expansion of the Kimberley diamond and iron ore mines on Koolan and Cockatoo Islands, the proposed $550m Deep Water Port Facility at Point Torment, the proposed Browse Basin Gas Project and resource giant Inpex's $25bn Ichthys LNG venture.