If you compare the increase in value of investment property in Morley, 6062 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -4.90%.
While Morley,6062 ranked number 242th in WA for increase in median house value (annualised) increase, it is ranked 194th over the last 5 years.
Vendor discounting in Morley is giving property investors an average Vendor Discount of around -7.46%. This puts suburb at number 201th in WA when ranking the most discounted suburbs.
WA has seen average median house prices change by -4.77% which means that Morley, 6062 has not done well for property investors by showing a capital gain of -4.90% over the last year
Morley,6062 was ranked 1205 in Australia by increase in median property value over the quarter.
At number 43th of WA’s most discounted properties, Morley is in the middle of the state/territory when listing in order of most discounted to least.
A $300 per week rent on the median house gives suburb investors a gross yield of circa 4.59%, without taking into account capital value appreciation, which has been averaging out at 1.00%.
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%.