If you compare the increase in value of investment property in Koondoola, 6064 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -12.17%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Koondoola has fallen somewhat when compared to the 5 year average annual rate.
The most recent median price for Koondoola is $263500, with sellers offering an average of -11.09% off the asking price.
Koondoola is 94th on a list of best yielding suburbs for rents in WA with a 5.53% return
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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.