Suburb Profile Report for Koondoola WA (6064)

Koondoola House: Median price $265,000, Annual capital growth -1.14%, Number of sales 35, Weekly median advertised rent $280

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report

Investment property in Koondoola has done 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 -10.47%

If we look at median property appreciation over just the last three months, Koondoola has given property investors a paper return of -0.93%. This puts Suburb as 288 on a list of fastest fasting appreciating suburbs in WA

Property investors looking for a bargain in Koondoola should be aiming for at least -12.61% off the asking price, which is the average vendor discount being achieved at the moment.

With the median price for a house in Koondoola being $265000 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 5.49%

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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.

Metrics i HOUSE UNIT
$265,000 N/A
-0.93% N/A
-10.47% N/A
-1.14% N/A
$280 N/A
35 N/A
5.49% N/A
95.6 N/A

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 3897
Median household income ($/weekly) 947
Median age of persons 32
Median housing loan repayment ($/monthly) 1387
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 655 16.8
    25-34 years 560 14.4
    35-44 years 549 14.1
    45-54 years 447 11.5
    55-64 years 423 10.9
    Others 1263 32.4
    Age Group
    Census Count Percent(%)
    Not Married 1328 49.8
    Registered Married 1140 42.7
    Defacto Relationship 201 7.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 1977 55.0
    Papua New Guinea 83 2.3
    United Kingdom 232 6.5
    Viet Nam 210 5.8
    Other 631 17.6
    Others 459 12.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 279 8.0
    Christianity 2092 60.3
    Hinduism 23 0.7
    Islam 372 10.7
    No Religion 687 19.8
    Others 16 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 124 11.0
    $400-$599 144 12.8
    $600-$799 139 12.3
    $1,000-$1,249 125 11.1
    $1,500-$1,999 133 11.8
    Others 463 41.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1188 44.0
    Employed, worked full-time 861 31.9
    Employed, worked part-time 404 14.9
    Unemployed, looking for work 144 5.3
    Employed, away from work 106 3.9
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 232 17.0
    Community & personal service workers 160 11.7
    Clerical & administrative workers 168 12.3
    Machinery operators & drivers 200 14.6
    Labourers 268 19.6
    Others 340 24.9
    Occupation
    Census Count Percent(%)
    Pre-school 73 7.8
    Infants/Primary 369 39.3
    Secondary 241 25.6
    Technical or Further Educational Institution 134 14.3
    University or other Tertiary Institutions 97 10.3
    Others 26 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3423 93.4
    Semi-detached, row or terrace house, townhouse 218 6.0
    Flat, unit or apartment 22 0.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 532 43.5
    Rented 394 32.2
    Fully owned 294 24.0
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
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