At number 1403th in the list of Australian suburbs ordered by increase in median house value over the last year, Karrinyup, 6018 is in the top 40% with a property value increase of 3.20% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Karrinyup has fallen somewhat when compared to the 5 year average annual rate.
The most recent median price for Karrinyup is $801900, with sellers offering an average of -5.11% off the asking price.
Using the current median advertised rental of $545 and the average annual increase in value of a median property of 1.13%, investors should hope to achieve an overall return of 3.53%
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Suburb recovers as housing stock falls
Median house price: $807,500
Stock on market: -33.1% (houses from 114 to 74)
12-month growth: 3.1%
A short distance from Perth, the suburb of Karrinyup is looking at a potential resurgence as WA begins to stabilise.
The number of houses on the market decreased considerably from over 100 to just 74 over February 2017-2018. The limited supply could have helped to spur the slight price growth of 3.1% in this period.
A third of Karrinyup is composed of bushland, and there are two golf courses in the area that take advantage of this. Karrinyup Shopping Centre houses two department stores, the local community centre and a library. The bus station attached to the shopping centre provides access to the Stirling train station. Three state primary schools cater to families with children, and St Mary’s Anglican Girls School was relocated to Karrinyup in 1961.