At number 1878th in the list of Australian suburbs ordered by increase in median house value over the last year, Gwelup, 6018 is in the top half with a property value increase of -0.60% recorded in median house prices.
Gwelup,6018 was ranked 909 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Gwelup should be aiming for at least -5.94% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $582.5 and the average annual increase in value of a median property of 2.30%, investors should hope to achieve an overall return of 3.65%
Information supplied by:
Median house price: $835,000
Vacancy rate: 1.14%
Three-year growth: 0.00%
Named for its resident swamp, Gwelup is one of the metro suburbs suggesting that Perth is on its way back to positive growth.
The average vacancy rate here has dropped from 1.29% to a very tight 1.14%, indicating demand. While house prices have continued to fall by 2.4% over the past 12 months, there was no further decrease during the February 2017 quarter.
Gwelup is situated along the Mitchell Freeway, and is 15 minutes away from Perth. Bus routes run from the suburb to the Perth CBD via the Stirling railway station. Residents can opt to shop at either the Gwelup Plaza neighbourhood shopping centre or at Karrinyup Shopping Centre. There is a lot of open space to foster community activity, and Lake Gwelup Reserve is home to native fauna, tennis courts and cycling trails. Gwelup houses a primary school as well.