Property value increases in Nollamara have tracked just lower than the WA average of -2.74% over the last 12 months.
Across a shorter period, Nollamara, 6061 has seen a median price increase of -0.75% over the last quarter.
Nollamara, 6061 is offering WA ‘s 130th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this WA.
Residents and property investors in Nollamara have been waiting around 78.2348 days to sell a property.
Advertised rents are around the $330 mark per week – giving a return of 4.70% based on the median price in Suburb
Over the last year, property investments in Nollamara, 6061 have given investors a capital gain of 1.96%. This compares favourably with the -6.57% for WA as a whole.
The five-year average increase in median property values for Nollamara,6061 has given property investors a potential capital gain of -23.78% across each of those five years.
Sellers are offering property buyers an average discount of -10.83% to buyers in Nollamara at the moment, which is less than average for the rest of WA.
Using the current median advertised rental of $310 and the average annual increase in value of a median property of -1.29%, investors should hope to achieve an overall return of 5.16%
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Lowered supply could boost demand
Median house price: $385,000
Stock on market: -15.1%
12-month growth: -3.8%
Named for the Kangaroo Paw plant, the suburb of Nollamara enjoys a premium location just around 10km from the Perth CBD and 15km from Trigg Beach.
While it got its start as a low-income suburb, Nollamara has since experienced a lot of gentrification. Newly constructed houses have taken the place of old established properties, attracting young families and professionals. In addition, Nollamara is bordered by hip (more expensive) hangouts like Leederville and Subiaco.
Prices are dropping in line with WA’s overall status, but the decline seems to slowing for Nollamara. Moreover, the number of houses on the market went down from over 170 to less than 140 in the span of 12 months (August 2017-2018). This tightening of supply could serve to increase demand and inspire positive growth in combination with the low price tag.