Suburb Profile Report for Palmyra WA (6157)

Palmyra House: Median price $602,500, Annual capital growth 1.08%, Number of sales 106, Weekly median advertised rent $390

Palmyra Unit: Median price $407,500, Annual capital growth 0.42%, Number of sales 55, Weekly median advertised rent $320

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Palmyra has done 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 -5.71%

The five-year average increase in median property values for Palmyra,6157 has given property investors a potential capital gain of 0.42% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Palmyra is offering property investors an average of -8.07. This rate of discount on properties puts Suburb at number 245th in terms of most discounted suburbs in WA

Advertised rents are around the $390 mark per week – giving a return of 3.37% based on the median price in Suburb

Property investors who have had real estate in Palmyra, 6157 should be unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -9.24%

Across a shorter period, Palmyra, 6157 has seen a median price increase of -1.57% over the last quarter.

Property buyers and investors in Palmyra 6157 should be seeing an average reduction in asking price of around -7.40% . This means that Palmyra is holding prices well when compared to other suburbs in WA.

Residents and property investors in Palmyra have been waiting around 90.49 days to sell a property.

Renters in Suburb are facing rents around $3840 per annum or $320 every week.

Information supplied by:


July 2017

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Prices increased by 1.2% in the past year, and this positive growth was sustained in the April 2017 quarter.Full summary

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
Metrics i HOUSE UNIT
$602,500 $407,500
0.42% -1.57%
-5.71% -9.24%
1.08% 0.42%
$390 $320
106 55
3.37% 4.08%
75.47 90.49

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Palmyra WA
Demographics
Total population 6609
Median household income ($/weekly) 1304
Median age of persons 39
Median housing loan repayment ($/monthly) 2000
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 671 10.2
    25-34 years 1048 15.9
    35-44 years 1133 17.1
    45-54 years 893 13.5
    55-64 years 756 11.4
    Others 2108 31.9
    Age Group
    Census Count Percent(%)
    Not Married 2336 47.5
    Registered Married 1953 39.7
    Defacto Relationship 628 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 4446 72.0
    Papua New Guinea 213 3.5
    South Africa 65 1.1
    United Kingdom 725 11.7
    Other 233 3.8
    Others 490 7.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 98 1.7
    Christianity 3803 64.4
    Hinduism 28 0.5
    Islam 44 0.7
    No Religion 1904 32.2
    Others 28 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 247 9.4
    $400-$599 279 10.6
    $600-$799 216 8.2
    $1,500-$1,999 308 11.7
    $2,500-$2,999 330 12.6
    Others 1248 47.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2255 44.0
    Not in the labour force 1514 29.5
    Employed, worked part-time 1032 20.1
    Employed, away from work 208 4.1
    Unemployed, looking for work 118 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 409 11.7
    Professionals 1048 30.0
    Technicians & trades workers 505 14.5
    Community & personal service workers 335 9.6
    Clerical & administrative workers 555 15.9
    Others 640 18.3
    Occupation
    Census Count Percent(%)
    Pre-school 82 6.4
    Infants/Primary 441 34.3
    Secondary 274 21.3
    Technical or Further Educational Institution 134 10.4
    University or other Tertiary Institutions 315 24.5
    Others 39 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4518 74.5
    Semi-detached, row or terrace house, townhouse 986 16.3
    Flat, unit or apartment 563 9.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1030 36.1
    Fully owned 931 32.6
    Rented 881 30.9
    Other tenure type 11 0.4
    Tenure Type
Census 2011, ABS
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