Property value increases in Two Rocks have tracked just higher than the WA average of -1.78% over the last 12 months.
Comparing Two Rocks,6037 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
LACK OF BUYER INTEREST may well be the reason that Two Rocks is offering property investors an average of -7.91. This rate of discount on properties puts Suburb at number 63th in terms of most discounted suburbs in WA
On average over the past year, suburb has had 4.42 sales per month, which equates to 53 per year.
With the median price for a house in Two Rocks being $380000 and the advertised rent reaching $325 the gross rental yield for property investors calculates out to be 4.45%
Information supplied by:
House stock takes a fall
Median house price: $385,000
Stock on market: -43.6%
12-month growth: 6.9%
Named for the two rocks that are located offshore from Wreck Point, the suburb of Two Rocks is one of the few suburbs to see some positivity in the midst of Western Australia’s difficult market. It is situated on the outskirts of Perth, which is accessible by taking the 490 bus from Butler Railway Station.
While much of the state is facing a state of oversupply and high vacancy rates, Two Rocks saw housing supply plummet from 148 in November 2016 to only 84 in the following year, representing a fall of 43.6%. This has caused the average vacancy rate to nosedive from 4.6% to just 2.8%.
Houses in Two Rocks are very affordable at a median price of $385,000, despite an increase of 6.9% in values.