Property value increases in Cannington have tracked lower than the WA average of -2.18% over the last 12 months.
Taking the average capital gain, or increase in median house value, Cannington,6107 has racked up an average of -10.44% over the period. This ranks it number 3881th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Cannington are currently offering property investors an average price cut of -9.44% below the asking price at the moment.
Residents and property investors in Cannington have been waiting around 103.979 days to sell a property.
Property value increases in Cannington have tracked just higher than the WA average of -7.26% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cannington has fallen somewhat when compared to the 5 year average annual rate.
At number 53th of WA’s most discounted properties, Cannington is in the TOP 30% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Cannington have been waiting around 133.455 days to sell a property.
A $330 per week rent on the median house gives suburb investors a gross yield of circa 5.16%, without taking into account capital value appreciation, which has been averaging out at -0.10%.
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Cannington is just 13km from the Perth CBD and close to both the Perth Airport and Fremantle.
Transport to all these areas is relatively easy, thanks to the suburb’s proximity to major roads (such as the Albany Highway) and the Cannington, Beckenham and Queens Park railway stations.
Within the suburb is one of Perth’s largest shopping complexes, Westfield Carousel.
Cannington is also not far from Bentley Hospital, Curtin University and quality schools.
This suburb is therefore popular with a wide demographic, including families, professionals and students.
It also helps that it’s generally green and serene.
Even though there a few areas that are somewhat affected by aircraft noise, this is something many residents are not too concerned about.
This year, a plan was put forward for a proposed third runway and a new terminal, potentially creating many more employment opportunities for the area.
Perth Airport already provides 17,800 jobs and contributes $2.61bn to the gross regional product of WA.
There are also industrial areas nearby in suburbs such as Welshpool and Kewdale which provide excellent opportunities for Cannington’s residents.
Houses on Crawford Street are close to buses, trains, Westfield Carousel and Curtin University.
Three-bedroom houses can be bought there for less than $500,000.