Over the last year, property investments in Morley, 6062 have given investors a capital gain of -6.44%. This compares badly with the -1.92% for WA as a whole.
The five-year average increase in median property values for Morley,6062 has given property investors a potential capital gain of -13.74% across each of those five years.
Property investors looking for a bargain in Morley should be aiming for at least -7.73% off the asking price, which is the average vendor discount being achieved at the moment.
The WA suburb of Morley, 6062 is in the Bayswater (C) local government area.
Morley has had a very poor year for property investment returns compared to the rest of WA, giving investors a capital gain of -16.00% to date .
Over the longer term, Morley has seen property prices show investors a -25.24% return over the last 3 years. This is an improvement over the last 12 months
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.64% offered to property buyers. Sellers in Morley itself are offering an average vendor discount of -4.75% to real estate investors.
On average over the past year, suburb has had 2.25 sales per month, which equates to 27 per year.
Using the current median advertised rental of $340 and the average annual increase in value of a median property of -0.55%, investors should hope to achieve an overall return of 6.01%
In Perth’s north-east, Morley is seeing more activity than many of its neighbouring suburbs.Full summary
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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%.