Investment property in Nollamara has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -5.64%
While Nollamara,6061 ranked number 348th in WA for increase in median house value (annualised) increase, it is ranked 340th over the last 5 years.
Property buyers and investors in Nollamara 6061 should be seeing an average reduction in asking price of around -8.58% . This means that Nollamara is holding prices well when compared to other suburbs in WA.
A $330 per week rent on the median house gives suburb investors a gross yield of circa 4.65%, without taking into account capital value appreciation, which has been averaging out at -0.16%.
WA has seen average median house prices change by 6.98% which means that Nollamara, 6061 has done well for property investors by showing a capital gain of 1.59% over the last year
If we look at median property appreciation over just the last three months, Nollamara has given property investors a paper return of 0.00%. This puts Suburb as 33 on a list of fastest fasting appreciating suburbs in WA
Nollamara, 6061 is offering WA ‘s 17th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this WA.
The WA suburb of Nollamara, 6061 is in the Stirling (C) local government area.
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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.