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 4.23%
Scarborough,6019 was ranked 2117 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -4.55% to buyers in Scarborough at the moment, which is less than average for the rest of WA.
On average over the past year, suburb has had 18.42 sales per month, which equates to 221 per year.
A $530 per week rent on the median house gives suburb investors a gross yield of circa 3.72%, without taking into account capital value appreciation, which has been averaging out at 0.03%.
Property investors who have had real estate in Scarborough, 6019 should be relatively unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.67%
While Scarborough,6019 ranked number 102th in WA for increase in median house value (annualised) increase, it is ranked 31th over the last 5 years.
Sellers are offering property buyers an average discount of -4.51% to buyers in Scarborough at the moment, which is less than average for the rest of WA.
On average over the past year, suburb has had 25.00 sales per month, which equates to 300 per year.
Scarborough is 104th on a list of best yielding suburbs for rents in WA with a 4.55% return
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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.