With a capital gain of -39.29% for the last 12 months, Derby, 6728 has performed for property investments than its average annual -0.89% property growth over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Derby is offering property investors an average of -8.24. This rate of discount on properties puts Suburb at number 11th in terms of most discounted suburbs in WA
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
With the median price for a house in Derby being $170000 and the advertised rent reaching $325 the gross rental yield for property investors calculates out to be 9.94%
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.