Suburb Profile Report for East Victoria Park WA (6101)

East Victoria Park House: Median price $600,000, Annual capital growth 2.18%, Number of sales 141, Weekly median advertised rent $395

East Victoria Park Unit: Median price $385,826, Annual capital growth 0.78%, Number of sales 51, Weekly median advertised rent $330

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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WA has seen average median house prices change by -2.74% which means that East Victoria Park, 6101 has not done well for property investors by showing a capital gain of 1.69% over the last year

East Victoria Park,6101 was ranked 3459 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that East Victoria Park is offering property investors an average of -8.58. This rate of discount on properties puts Suburb at number 125th in terms of most discounted suburbs in WA

Using the current median advertised rental of $395 and the average annual increase in value of a median property of 2.18%, investors should hope to achieve an overall return of 3.42%

East Victoria Park has had a pretty good year for property investment returns compared to the rest of WA, giving investors a capital gain of 0.21% to date .

Across a shorter period, East Victoria Park, 6101 has seen a median price increase of -1.49% over the last quarter.

Property investors looking for a bargain in East Victoria Park should be aiming for at least -8.70% off the asking price, which is the average vendor discount being achieved at the moment.

Often selling an investment property can take time, and in East Victoria Park the average time real estate has been on the market is 94.8438 days.

East Victoria Park is 82th on a list of best yielding suburbs for rents in WA with a 4.45% return

Information supplied by:

YIP MAG
February 2016

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Values in surrounding suburbs may have stagnated of late,but East Victoria Park in WA has experienced steady growthover the past five years, says Shane Vasile, licensee/director of Acton Victoria Park.

Just 4km from the Perth CBD, with good public transport links and proximity to Swan River and Perth’s largest university, East Victoria Park is a suburb boasting a soughtafter location and solid infrastructure. But Shane says it’s the gentrification of this inner-city suburb that has been the real drawcard for buyers.

“The amazing new high street cafe strip and restaurants have attracted people to the area,” says Vasile.

“There’s a much younger demographic now moving in, and with a lot of new apartments and mixed housing it’s still quite affordable. They want to live here; it’s somewhere that’s desirable to be.”

Demand in the neighbourhood is consistent, with a balanced mix of investors and owner-occupiers competing to get into the market.

“We’ve had a bit of a downturn across the board here, but East Victoria Park is the exception. It’s thriving,” Shane explains.

He adds that most of the blocks are subdividable, and if investors keep the older-style, 1920s workers’ cottages on the front, they then also have the option to build a new home at the rear, “which adds value”.

Metrics	HOUSE	UNIT
Median price	$600,000	$385,826
Quarterly growth	-3.77%	-1.49%
12-month growth	1.69%	0.21%
Average Annual Growth	2.18%	0.78%
Weekly median advertised rent	$395	$330
Number of sales	141	51
Gross rental yield	3.42%	4.45%
Days on market	85.4036697247707	94.84375

DSR Score for property investment : Balanced (H), Balanced (U)

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Demographics

Total population	9031
Median household income ($/weekly)	1503
Median age of persons	33
Median housing loan repayment ($/monthly)	2167
Average household size	2.3

Census	Count	Percent(%)
5-14 years	833	9.2
20-24 years	939	10.4
25-34 years	1992	22.1
35-44 years	1555	17.2
45-54 years	1091	12.1
Others	2620	29.0

Age Group

Census	Count	Percent(%)
Not Married	3314	48.5
Registered Married	2699	39.5
Defacto Relationship	825	12.1

Social Marital Status

Census	Count	Percent(%)
Australia	4977	58.5
Indonesia	362	4.3
Papua New Guinea	278	3.3
United Kingdom	688	8.1
Other	719	8.4
Others	1487	17.5

Country of Birth

Census	Count	Percent(%)
Buddhism	312	3.9
Christianity	4421	54.7
Hinduism	230	2.8
Islam	419	5.2
No Religion	2551	31.6
Others	152	1.9

Religious Affiliation

Census	Count	Percent(%)
$600-$799	278	8.5
$1,250-$1,499	242	7.4
$1,500-$1,999	402	12.3
$2,000-$2,499	291	8.9
$2,500-$2,999	419	12.8
Others	1638	50.1

Gross Household Income (Weekly)

Census	Count	Percent(%)
Employed, worked full-time	3176	44.5
Not in the labour force	1895	26.6
Employed, worked part-time	1493	20.9
Employed, away from work	307	4.3
Unemployed, looking for work	260	3.6

Person Characteristics

Census	Count	Percent(%)
Managers	570	11.5
Professionals	1493	30.0
Technicians & trades workers	664	13.3
Community & personal service workers	452	9.1
Clerical & administrative workers	686	13.8
Others	1112	22.3

Occupation

Census	Count	Percent(%)
Pre-school	122	5.4
Infants/Primary	601	26.5
Secondary	323	14.2
Technical or Further Educational Institution	284	12.5
University or other Tertiary Institutions	859	37.8
Others	81	3.6

Type of Educational Institution Attending

Census	Count	Percent(%)
Separate house	6478	76.9
Semi-detached, row or terrace house, townhouse	1134	13.5
Flat, unit or apartment	804	9.5
Caravan, cabin, houseboat	7	0.1
Improvised home, tent, sleepers out	0	0.0
Others	0	0.0