Property investors who have had real estate in Stirling, 6021 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 decrease in value by -5.37%
While Stirling,6021 ranked number 321th in WA for increase in median house value (annualised) increase, it is ranked 269th over the last 5 years.
Vendor discounting in Stirling is giving property investors an average Vendor Discount of around -9.68%. This puts suburb at number 92th in WA when ranking the most discounted suburbs.
Property investors should expect to get $495 weekly from the median priced house in this suburb.
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Drop in house supply inspires price growth
Median house price: $815,000
Stock on market: -41.7%
12-month growth: 1.9%
Decreasing housing stock could be enabling the suburb of Stirling, a regional centre of Perth that can be found along the Mitchell Highway, to see some growth in the difficult WA market.
Following a steep decline of over 40% in house supply in the year leading up to July 2017, Stirling recorded 1.9% growth, with the July 2017 quarter logging a 0.6% increase in prices. This could be attributed to Stirling being quite rich in amenities like Osborne Park community general hospital, Stirling Village shopping centre, and many sports grounds. While Stirling does not have its own school, surrounding suburbs like Gwelup and Balcatta provide access to a high school and several primary schools. By taking the train from the local station, the Perth CBD is less than 10 minutes away.