Suburb Profile Report for Banksia Grove WA (6031)

Banksia Grove House: Median price $350,500, Annual capital growth 6.62%, Number of sales 130, Weekly median advertised rent $350

  • 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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  • House Report

With a capital gain of -4.37% for the last 12 months, Banksia Grove, 6031 has performed for property investments than its average annual 6.62% property growth over the last 5 years.

If we look at median property appreciation over just the last three months, Banksia Grove has given property investors a paper return of -0.57%. This puts Suburb as 265 on a list of fastest fasting appreciating suburbs in WA

Banksia Grove6031 is located in WA which offers an average discount of -8.00% to property investors. Banksia Grove itself is showing figures that indicate -5.30% is the average achievable by property buyers investing in the suburb.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 5.19%, without taking into account capital value appreciation, which has been averaging out at 6.62%.

Lisa Brake Information supplied by:

Lisa Brake
Benchmark – Specialist Property Managers

M 08 9301 1111
O 0432 847 940

Banksia Grove right up until the late 1990’s was known as Neerabup. In 2005 the Banksia Grove Joint Venture partnership was set up to revive and develop the suburb. This included a further 3500 homes to be built in the new development as well as a Large shopping village which is due to open in 2015, over 30 hectares  of parkland including a water park, amphitheatre and skate park. 2 new primary schools, a high school and much more! The completion of Banksia Grove is estimated for 2020.

Selling points: 
Banksia Grove is an up and coming suburb. The house prices are rising due to the planned facilities including an education precinct. Banksia Grove already has two primary schools: the Catholic school and Neerabup Primary school. It is a very family orientated suburb with lots of parks, 40 hectares of forever bushland, a proposed skate park, an amphitheatre which puts on regular movies, regular family days including breakfast in the park, Spring in the Grove and Carols by Candlelight. Joondalup is just 5km away, Perth CBD 27km, and 9km to the coast. Major bus routes are also dotted all around Banksia Grove transferring to Joondalup Train Station. Lastly the suburb has been well thought out with the 40 hectares of natural bushland which has water saving plants and wildlife, but also solar panels suggested for the house and land packages and a ‘Green passive Energy efficient Green smart demonstration home’

Most sought-after properties: 
Houses conducive to family living are most highly sought after: 4 bedrooms, 2 bathrooms with functional open style living, double garage, and air conditioning.

Top amenities: 
Everything you need is within a few km’s to Banksia grove including Carramar Golf Course, Wanneroo Golf Course, The Maze, Edith Cowan University Joondalup Campus, Arena Joondalup Sports & Leisure Club, Carramar Village Shopping Centre, Lakeside Joondalup Shopping centre, Mindarie Boat Harbour, Burns Beach, Neerabup primary School & Sporting Grounds, Banksia Grove Catholic Primary School, Wanneroo Raceway, Freeway & Currambine Train Station, Joondalup cinema, Lake Joondalup Nature reserve & Joondalup Health campus.

Recent changes: 
There have been many recent changes to Banksia Grove. In the last few months the bus route extended to Grandis Boulevard. The later stages of Banksia grove haven’t yet been built and are not due for completion until 2020. Land is still for sale in Banksia grove. The Pit Stop Park and water park have only just finished completion and the shopping centre has been set to open in 2015 which has a confirmed Coles and Liquor land.  The doctor’s surgery has nearly finished completion and the new child care centre is set to open in 2014. 

Best streets: 
The suburb is divided into two sections the ‘old’ Banksia grove and the ‘new’ Banksia grove. The older side has some lovely streets including but not limited to Mornington Drive & Sundowner Meander but also the new side is of great interest to the investors who are trying to get in before the facilities are built and the land prices goes up.

Public transport: 
Bus routes through Banksia Grove go to Joondalup train station/shopping centre. Or park and ride from Currambine or jump on the recently widened Mitchell Freeway from Burns Beach Road for a 30 minute drive into the CBD. 

Main arteries: 
Joondalup Drive goes right through the middle of Banksia Grove, Joseph Banks Elbow is the main run through for the new side & Mistletoe Avenue is the main run through for the older part. Wanneroo Road is just off Joondalup Drive and you also have Pinjar Road which has plans to be extended in the future to connect onto Neaves Road.
Metrics i HOUSE UNIT
$350,500 N/A
-0.57% N/A
-4.37% N/A
6.62% N/A
$350 N/A
130 N/A
5.19% N/A
78.8118811881188 N/A

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 : Good (H), Balanced (U)
Find a mortgage broker in Banksia Grove WA
Total population 4718
Median household income ($/weekly) 1555
Median age of persons 26
Median housing loan repayment ($/monthly) 2383
Average household size 3
  • Census Count Percent(%)
    0-4 years 556 11.8
    5-14 years 836 17.7
    20-24 years 445 9.4
    25-34 years 1089 23.1
    35-44 years 747 15.8
    Others 1045 22.1
    Age Group
    Census Count Percent(%)
    Registered Married 1309 42.5
    Not Married 1171 38.0
    Defacto Relationship 602 19.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2715 60.1
    Papua New Guinea 254 5.6
    South Africa 114 2.5
    United Kingdom 708 15.7
    Other 360 8.0
    Others 363 8.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 47 1.1
    Christianity 2613 61.1
    Islam 108 2.5
    Other Religious Groups 57 1.3
    No Religion 1408 32.9
    Others 41 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 120 8.9
    $1,250-$1,499 141 10.5
    $1,500-$1,999 271 20.1
    $2,000-$2,499 194 14.4
    $2,500-$2,999 122 9.1
    Others 499 37.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1540 48.6
    Not in the labour force 750 23.7
    Employed, worked part-time 567 17.9
    Employed, away from work 167 5.3
    Unemployed, looking for work 146 4.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 297 13.1
    Technicians & trades workers 483 21.2
    Community & personal service workers 245 10.8
    Clerical & administrative workers 363 16.0
    Labourers 266 11.7
    Others 619 27.2
    Census Count Percent(%)
    Pre-school 115 9.3
    Infants/Primary 566 45.9
    Secondary 274 22.2
    Technical or Further Educational Institution 97 7.9
    University or other Tertiary Institutions 160 13.0
    Others 22 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4410 97.7
    Flat, unit or apartment 58 1.3
    Semi-detached, row or terrace house, townhouse 48 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(%)
    Being purchased 1091 72.1
    Rented 345 22.8
    Fully owned 78 5.2
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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