Property investors who have had real estate in Scarborough, 6019 should be ok 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 3.55%
If we look at median property appreciation over just the last three months, Scarborough has given property investors a paper return of 0.00%. This puts Suburb as 189 on a list of fastest fasting appreciating suburbs in WA
At number 164th of WA’s most discounted properties, Scarborough is in the middle of the state/territory when listing in order of most discounted to least.
A $500 per week rent on the median house gives suburb investors a gross yield of circa 3.56%, without taking into account capital value appreciation, which has been averaging out at -0.13%.
Giving property investors a an average capital gain of 2.20% for the last year, Scarborough, 6019 is the 740th highest performer in Australia in this respect.
Scarborough,6019 was ranked 321 in Australia by increase in median property value over the quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.49% offered to property buyers. Sellers in Scarborough itself are offering an average vendor discount of -4.75% to real estate investors.
On average over the past year, suburb has had 18.25 sales per month, which equates to 219 per year.
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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.