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 -2.92%.
Across a shorter period, Scarborough, 6019 has seen a median price increase of 0.70% over the last quarter.
Property investors looking for a bargain in Scarborough should be aiming for at least -6.18% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1537 in a list of fastest selling suburbs, Scarborough is just in the top half of suburbs in Australia with an average of days on market 73.8981 for properties listed there.
Scarborough, 6019 ranked 57th in WA when comparing growth in median property values or capital gain over the last 12 months. Scarborough is one of 1662 in our list for WA
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Scarborough has fallen somewhat when compared to the 5 year average annual rate.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Scarborough, 6019. Typically our figures indicate that -7.78% is being offered, which puts this WA suburb at 268th most discounted overall in Australia.
Advertised rents are around the $400 mark per week – giving a return of 4.62% based on the median price in Suburb
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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.