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.
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