WA has seen average median house prices change by -1.74% which means that Sorrento, 6020 has not done well for property investors by showing a capital gain of -0.81% over the last year
The five-year average increase in median property values for Sorrento,6020 has given property investors a potential capital gain of -9.16% across each of those five years.
The most recent median price for Sorrento is $917500, with sellers offering an average of -4.32% off the asking price.
Sorrento, 6020’s gross rental yield is 3.68%
Over the last year, property investments in Sorrento, 6020 have given investors a capital gain of 6.06%. This compares very favourably with the -4.63% for WA as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Sorrento comes in at number 22th in WA.
Often selling an investment property can take time, and in Sorrento the average time real estate has been on the market is 93 days.
Using the current median advertised rental of $362.5 and the average annual increase in value of a median property of 1.61%, investors should hope to achieve an overall return of 4.79%
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Affluent suburb maintains its ground
Median house price: $891,500
Stock on market: -20.7%
12-month growth: -2.5%
Located in the northern coast of Perth, the suburb of Sorrento is aiming to stem a downturn by reducing house and unit stock by 20.7%.
This initiative seems to have helped the housing market as prices inched upwards by nearly 2% in the June 2017 quarter, although growth was still negative for the 12-month period leading up to July 2017.
Sorrento is fairly rich in amenities, making it a popular residential area. Several parks have been established here for recreational use, including the Marmion Marine Park. Sorrento Quay is packed with shops and restaurants, although residents can also do their shopping at nearby Seacrest Village shopping centre, Whitford City and Centro Warwick. The suburb is also home to Sorrento Primary School and Sacred Heart College.