Morley is in the bottom 40% in WA when comparing median price capital growth over the last year. Morley gave property investors a disappointing capital gain figure when compared to the rest of the state, with -4.04%.
When looking at the potential capital gains offered to property investors over the last 3 years, Morley comes in at number 282th in WA.
Property buyers and investors in Morley 6062 should be seeing an average reduction in asking price of around -7.57% . This means that Morley is holding prices well when compared to other suburbs in WA.
With the median price for a house in Morley being $475000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.72%
Investment property in Morley has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -2.29%
While Morley,6062 ranked number 85th in WA for increase in median house value (annualised) increase, it is ranked 57th over the last 5 years.
Property investors looking for a bargain in Morley should be aiming for at least -7.85% off the asking price, which is the average vendor discount being achieved at the moment.
In Perth’s north-east, Morley is seeing more activity than many of its neighbouring suburbs.Full summary
Information supplied by:
In Perth’s north-east, Morley is seeing more activity than many of its neighbouring suburbs.Close
Around 10km from Perth’s CBD, more than 350 houses in Morley have been sold over the past 12 months and the average period of 64 days that houses in Morley are on the market for is shorter than many nearby suburbs as well.
Morley is also outperforming its neighbours in terms of capital growth, with the median house price having increased by 19% over the last three years – increased buying could have something to do with people looking to get into the area before the median price rises much more above its current $560,000.
It could also be the result of people looking to take advantage of what Morley has to offer.
The suburb is dotted with parklands and is home to a number of quality schools.
There is great shopping available along Russell St and it is a short drive to Perth Airport.
Morley’s vacancy rate currently sits at 1.53%.