Over the last year, property investments in Palmyra, 6157 have given investors a capital gain of -7.69%. This compares badly with the -2.43% for WA as a whole.
If we look at median property appreciation over just the last three months, Palmyra has given property investors a paper return of 0.00%. This puts Suburb as 159 on a list of fastest fasting appreciating suburbs in WA
Property buyers and investors in Palmyra 6157 should be seeing an average reduction in asking price of around -7.30% . This means that Palmyra is holding prices well when compared to other suburbs in WA.
At number 2375 in a list of fastest selling suburbs, Palmyra is in the bottom 40% of suburbs in Australia with an average of days on market 84.57 for properties listed there.
Property investors should expect to get $410 weekly from the median priced house in this suburb.
If you compare the increase in value of investment property in Palmyra, 6157 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -4.83%.
The five-year average increase in median property values for Palmyra,6157 has given property investors a potential capital gain of -2.59% across each of those five years.
At number 86th of WA’s most discounted properties, Palmyra is in the TOP 20% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Palmyra the average time real estate has been on the market is 81.84 days.
The WA suburb of Palmyra, 6157 is in the Melville local government area.
Prices increased by 1.2% in the past year, and this positive growth was sustained in the April 2017 quarter.Full summary
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Apartment hunters turn their eye to centrally located suburb
Median unit price: $441,000
Three-year growth: -4.03%
Rental yield: 4.07%
Roughly 10 minutes’ drive south of Leighton Beach is the suburb of Palmyra. In the midst of Perth’s downslide, this suburb is managing to maintain some growth in the apartment market.
Prices increased by 1.2% in the past year, and this positive growth was sustained in the April 2017 quarter. As a result, the median unit value broke through the $440,000 mark. Nonetheless, it remains an affordable suburb given the fact that it is less than 30 minutes from Perth.
Some of the buyer demand could be coming from investors, who can obtain a reasonable yield of 4.1%. Palmyra is a well-stocked suburb that is home to a couple of schools, parks and a reserve. It is also bordered by Canning Highway. Thus, the area could appeal to prospective tenants.Close