Suburb Profile Report for East Victoria Park WA (6101)

East Victoria Park House: Median price $616,750, Annual capital growth 1.54%, Number of sales 145, Weekly median advertised rent $358

East Victoria Park Unit: Median price $380,000, Annual capital growth 0.93%, Number of sales 45, Weekly median advertised rent $299

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

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Unit Report
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East Victoria Park is an average performer in WA when comparing median price capital growth over the last year. East Victoria Park gave property investors a average capital gain figure when compared to the rest of the state, with -3.63%.

Across a shorter period, East Victoria Park, 6101 has seen a median price increase of -0.28% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that East Victoria Park is offering property investors an average of -8.09. This rate of discount on properties puts Suburb at number 238th in terms of most discounted suburbs in WA

At number 1962 in a list of fastest selling suburbs, East Victoria Park is just in the bottom half of suburbs in Australia with an average of days on market 74.35 for properties listed there.

Advertised rents are around the $357.5 mark per week – giving a return of 3.01% based on the median price in Suburb

Over the last year, property investments in East Victoria Park, 6101 have given investors a capital gain of -7.32%. This compares averagely with the -4.15% for WA as a whole.

While East Victoria Park,6101 ranked number 25th in WA for increase in median house value (annualised) increase, it is ranked 56th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that East Victoria Park is offering property investors an average of -9.08. This rate of discount on properties puts Suburb at number 7th in terms of most discounted suburbs in WA

East Victoria Park, 6101’s gross rental yield is 4.09%

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 growth over the past five yearsFull summary 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”.Close

Metrics	HOUSE	UNIT
Median price	$616,750	$380,000
Quarterly growth	-0.28%	2.01%
12-month growth	-3.63%	-7.32%
Average Annual Growth	1.54%	0.93%
Weekly median advertised rent	$358	$299
Number of sales	145	45
Gross rental yield	3.01%	4.09%
Days on market	74.35	115.46

Source: CoreLogic

DSR Score for property investment : Above average (H), Below average (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