Investment property in Scarborough has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -4.31%
Scarborough,6019 was ranked 2332 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Scarborough is offering property investors an average of -8.58. This rate of discount on properties puts Suburb at number 326th in terms of most discounted suburbs in WA
Property investors should expect to get $527.5 weekly from the median priced house in this suburb.
Investment property in Scarborough has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -8.63%
Over the longer term, Scarborough has seen property prices show investors a -10.00% return over the last 3 years. This is an improvement over the last 12 months
Our latest figures would indicate that property sellers in Scarborough are currently offering property investors an average price cut of -7.73% below the asking price at the moment.
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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.