If you compare the increase in value of investment property in Derby, 6728 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -29.63%.
Derby,6728 was ranked 3490 in Australia by increase in median property value over the quarter.
At number 6th of WA’s most discounted properties, Derby is in the bottom 10% of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $325 and the average annual increase in value of a median property of 1.97%, investors should hope to achieve an overall return of 8.89%
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
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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.