Suburb Profile Report for Sorrento WA (6020)

Sorrento House: Median price $917,500, Annual capital growth 0.96%, Number of sales 110, Weekly median advertised rent $650

Sorrento Unit: Median price $393,500, Annual capital growth 1.61%, Number of sales 18, Weekly median advertised rent $363

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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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%

Information supplied by:


September 2017

M
O

W
E

Affluent suburb maintains its ground

Postcode: 6020

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.

Metrics i HOUSE UNIT
$917,500 $393,500
-1.61% 4.93%
-0.81% 6.06%
0.96% 1.61%
$650 $363
110 18
3.68% 4.79%
65.7831325301205 93

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Balanced (U)
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Demographics
Total population 7371
Median household income ($/weekly) 2065
Median age of persons 43
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 944 12.8
    35-44 years 880 11.9
    45-54 years 1251 17.0
    55-64 years 1283 17.4
    65-74 years 661 9.0
    Others 2352 31.9
    Age Group
    Census Count Percent(%)
    Registered Married 3329 60.1
    Not Married 1925 34.7
    Defacto Relationship 286 5.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 4805 68.7
    Papua New Guinea 146 2.1
    South Africa 250 3.6
    United Kingdom 898 12.8
    Other 244 3.5
    Others 654 9.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 69 1.0
    Christianity 5172 76.7
    Hinduism 43 0.6
    Islam 47 0.7
    No Religion 1371 20.3
    Others 43 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 212 9.6
    $2,000-$2,499 194 8.8
    $2,500-$2,999 336 15.3
    $3,000-$3,499 242 11.0
    $4,000 or more 238 10.8
    Others 978 44.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2186 37.9
    Not in the labour force 1763 30.5
    Employed, worked part-time 1473 25.5
    Employed, away from work 232 4.0
    Unemployed, looking for work 120 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 649 16.7
    Professionals 1078 27.7
    Technicians & trades workers 450 11.6
    Clerical & administrative workers 628 16.1
    Sales 414 10.6
    Others 675 17.3
    Occupation
    Census Count Percent(%)
    Pre-school 81 4.4
    Infants/Primary 625 33.8
    Secondary 534 28.9
    Technical or Further Educational Institution 110 5.9
    University or other Tertiary Institutions 476 25.7
    Others 24 1.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6324 92.2
    Flat, unit or apartment 460 6.7
    Semi-detached, row or terrace house, townhouse 76 1.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1194 47.8
    Being purchased 930 37.2
    Rented 367 14.7
    Other tenure type 9 0.4
    Tenure Type
Census 2011, ABS
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