Property value increases in Scarborough have tracked close to the WA average of 4.03% over the last 12 months.
Taking the average capital gain, or increase in median house value, Scarborough,6019 has racked up an average of 2.53% over the period. This ranks it number 3119th in the whole country for real estate investors looking at median house price increases.
Scarborough6019 is located in WA which offers an average discount of -5.56% to property investors. Scarborough itself is showing figures that indicate -4.68% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $520 and the average annual increase in value of a median property of -0.11%, investors should hope to achieve an overall return of 3.70%
If you compare the increase in value of investment property in Scarborough, 6019 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this WA suburb was 5.31%.
Scarborough,6019 was ranked 1298 in Australia by increase in median property value over the quarter.
At number 60th of WA’s most discounted properties, Scarborough is in the TOP 20% of the state/territory when listing in order of most discounted to least.
With the median price for a house in Scarborough being $466000 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 4.41%
Information supplied by:
Housing stock is boosted
Median house price: $742,000
Stock on market: 24.6%
12-month growth: -1.1%
The large suburb of Scarborough is a popular coastal spot made to maximise visitors and water sports enthusiasts to Scarborough Beach, which became the site of the Australian Surf Life Saving Championships for four years.
Named for a beach resort in England’s North Yorkshire, Scarborough is home to restaurants, cafes and a thriving nightlife scene. One of its most well-known landmarks is the Rendezvous Observation City, which was built in 1986. In addition to the focus on entertainment, Scarborough also houses Scarborough Primary School.
In September 2017, this suburb recorded 132 houses on the market – 12 months on, this number has skyrocketed to nearly 200. In the same period, house values stumbled by 1.1% to continue a negative trend observed in 2015, when prices dropped by 4.9%. By contrast, however, unit stock fell from 79 to 67.