Suburb Profile Report for Gwelup WA (6018)

Gwelup House: Median price $830,000, Annual capital growth 2.30%, Number of sales 52, Weekly median advertised rent $583

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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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:


May 2017

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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.

Metrics i HOUSE UNIT
$830,000 N/A
1.84% N/A
-0.60% N/A
2.30% N/A
$583 N/A
52 N/A
3.65% N/A
58.1777777777778 N/A

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 3923
Median household income ($/weekly) 2040
Median age of persons 40
Median housing loan repayment ($/monthly) 2383
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 623 15.9
    25-34 years 321 8.2
    35-44 years 737 18.8
    45-54 years 525 13.4
    55-64 years 440 11.2
    Others 1277 32.6
    Age Group
    Census Count Percent(%)
    Registered Married 1714 65.7
    Not Married 703 27.0
    Defacto Relationship 190 7.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2777 74.5
    Japan 69 1.8
    Papua New Guinea 77 2.1
    United Kingdom 340 9.1
    Other 108 2.9
    Others 359 9.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 38 1.0
    Christianity 2647 73.1
    Hinduism 26 0.7
    Islam 26 0.7
    No Religion 865 23.9
    Others 18 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 149 12.7
    $2,000-$2,499 111 9.4
    $2,500-$2,999 182 15.5
    $3,000-$3,499 132 11.2
    $4,000 or more 101 8.6
    Others 502 42.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1134 40.3
    Not in the labour force 901 32.0
    Employed, worked part-time 630 22.4
    Employed, away from work 97 3.4
    Unemployed, looking for work 54 1.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 312 16.7
    Professionals 532 28.6
    Technicians & trades workers 226 12.1
    Clerical & administrative workers 365 19.6
    Sales 154 8.3
    Others 274 14.7
    Occupation
    Census Count Percent(%)
    Pre-school 88 9.5
    Infants/Primary 437 47.0
    Secondary 226 24.3
    Technical or Further Educational Institution 37 4.0
    University or other Tertiary Institutions 127 13.7
    Others 14 1.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3376 94.1
    Semi-detached, row or terrace house, townhouse 151 4.2
    Caravan, cabin, houseboat 60 1.7
    Flat, unit or apartment 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 605 46.9
    Fully owned 494 38.3
    Rented 140 10.9
    Other tenure type 50 3.9
    Tenure Type
Census 2011, ABS
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