Property value increases in Two Rocks have tracked lower than the WA average of -1.92% over the last 12 months.
Two Rocks,6037 was ranked 4026 in Australia by increase in median property value over the quarter.
At number 89th of WA’s most discounted properties, Two Rocks is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Renters in Suburb are facing rents around $16640 per annum or $320 every week.
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House stock takes a fall
Median house price: $385,000
Stock on market: -43.6%
12-month growth: 6.9%
Named for the two rocks that are located offshore from Wreck Point, the suburb of Two Rocks is one of the few suburbs to see some positivity in the midst of Western Australia’s difficult market. It is situated on the outskirts of Perth, which is accessible by taking the 490 bus from Butler Railway Station.
While much of the state is facing a state of oversupply and high vacancy rates, Two Rocks saw housing supply plummet from 148 in November 2016 to only 84 in the following year, representing a fall of 43.6%. This has caused the average vacancy rate to nosedive from 4.6% to just 2.8%.
Houses in Two Rocks are very affordable at a median price of $385,000, despite an increase of 6.9% in values.