WA has seen average median house prices change by 1.94% which means that Koondoola, 6064 has done well for property investors by showing a capital gain of 13.67% over the last year
A -26.93% growth in median value for property investors in Koondoola,6064 puts this suburb at number 187th in terms of best performing suburbs in WA
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.58% offered to property buyers. Sellers in Koondoola itself are offering an average vendor discount of -3.25% to real estate investors.
A $280 per week rent on the median house gives suburb investors a gross yield of circa 4.74%, without taking into account capital value appreciation, which has been averaging out at -0.16%.
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Some 15km north of the Perth CBD, Koondoola is a small suburb, relative to its neighbours. It also has much smaller prices. Nearby Alexander Heights’s median price is $90,000 more expensive ($425,000), as are median prices in other neighbours: Wanneroo ($405,000) and Landsdale ($504,000).
Offering similar sized properties in the same region of Perth, certain figures indicate that buyers may be noticing the relative affordability of Koondoola within the region. Auction clearance rates are at 100%, indicating that properties that come into the market are well sought after. Vacancy rates are exceptionally tight at 0.25%, and properties in the area are well held onto – just 0.53% of the properties within the suburb are up for sale.
The favourable supply and demand situation aside, the area offers advantages that extent far beyond just being next door to less affordable neighbours. The CBD is easily accessible and the area is home to a mixture of modern and older houses – the latter set onto fairly larger blocks.
Memet Demiroski of Professionals Real Estate Group says re-zoning plans within the larger north Perth region may change the supply and demand landscape for suburbs such as Koondoola in a favourable way. He estimates property values to double over the next five years. “Koondoola is a fantastic entry point to get into the real estate market,” he says.