Giving property investors a an unimpressive capital gain of -4.88% for the last year, Nollamara, 6061 is the 2635th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Nollamara has fallen somewhat when compared to the 5 year average annual rate.
At number 140th of WA’s most discounted properties, Nollamara is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Nollamara have been waiting around 79.9076 days to sell a property.
With a capital gain of 2.26% for the last 12 months, Nollamara, 6061 has performed for property investments than its average annual -1.12% property growth over the last 5 years.
While Nollamara,6061 ranked number 54th in WA for increase in median house value (annualised) increase, it is ranked 60th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Nollamara is offering property investors an average of -9.44. This rate of discount on properties puts Suburb at number 21th in terms of most discounted suburbs in WA
At number 1254 in a list of fastest selling suburbs, Nollamara is in the bottom 10% of suburbs in Australia with an average of days on market 130.654 for properties listed there.
Using the current median advertised rental of $302.5 and the average annual increase in value of a median property of -1.12%, investors should hope to achieve an overall return of 4.96%
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Lowered supply could boost demand
Median house price: $385,000
Stock on market: -15.1%
12-month growth: -3.8%
Named for the Kangaroo Paw plant, the suburb of Nollamara enjoys a premium location just around 10km from the Perth CBD and 15km from Trigg Beach.
While it got its start as a low-income suburb, Nollamara has since experienced a lot of gentrification. Newly constructed houses have taken the place of old established properties, attracting young families and professionals. In addition, Nollamara is bordered by hip (more expensive) hangouts like Leederville and Subiaco.
Prices are dropping in line with WA’s overall status, but the decline seems to slowing for Nollamara. Moreover, the number of houses on the market went down from over 170 to less than 140 in the span of 12 months (August 2017-2018). This tightening of supply could serve to increase demand and inspire positive growth in combination with the low price tag.