Giving property investors a an unimpressive capital gain of -3.95% for the last year, Nollamara, 6061 is the 2603th highest performer in Australia in this respect.
Nollamara,6061 was ranked 1472 in Australia by increase in median property value over the quarter.
At number 135th of WA’s most discounted properties, Nollamara is in the bottom 40% of the state/territory when listing in order of most discounted to least.
In the last year 169 properties changed hands in Nollamara, which puts it as the 21th most active market in WA when comparing the number of sales per suburb.
A $330 per week rent on the median house gives suburb investors a gross yield of circa 4.70%, without taking into account capital value appreciation, which has been averaging out at -0.40%.
At number 1373th in the list of Australian suburbs ordered by increase in median house value over the last year, Nollamara, 6061 is in the BOTTOM 10% with a property value increase of -14.29% recorded in median house prices.
Comparing Nollamara,6061 ‘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 Nollamara is offering property investors an average of -9.28. This rate of discount on properties puts Suburb at number 14th in terms of most discounted suburbs in WA
Using the current median advertised rental of $320 and the average annual increase in value of a median property of -2.18%, investors should hope to achieve an overall return of 6.16%
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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.