Scarborough has had a pretty good year for property investment returns compared to the rest of WA, giving investors a capital gain of 4.43% to date .
While Scarborough,6019 ranked number 148th in WA for increase in median house value (annualised) increase, it is ranked 117th over the last 5 years.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.77% offered to property buyers. Sellers in Scarborough itself are offering an average vendor discount of -5.34% to real estate investors.
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 5.32%.
While Scarborough,6019 ranked number 24th in WA for increase in median house value (annualised) increase, it is ranked 21th over the last 5 years.
Our latest figures would indicate that property sellers in Scarborough are currently offering property investors an average price cut of -4.15% below the asking price at the moment.
Property investors should expect to get $380 weekly from the median priced house in this 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.