Queens Park has had a quite poor year for property investment returns compared to the rest of WA, giving investors a capital gain of -6.03% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Queens Park has fallen somewhat when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -8.96% to buyers in Queens Park at the moment, which is less than average for the rest of WA.
Residents and property investors in Queens Park have been waiting around 77.8478 days to sell a property.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 1.30%, investors should hope to achieve an overall return of 4.71%
Over the last year, property investments in Queens Park, 6107 have given investors a capital gain of -21.15%. This compares very badly with the -6.92% for WA as a whole.
Queens Park,6107 was ranked 821 in Australia by increase in median property value over the quarter.
Queens Park, 6107’s gross rental yield is 8.04%
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Ray White Cannington principal Michael Smart says the area offers some of the largest blocks of land available within 11km of the CBD. “There are a lot of redevelopment opportunities within Queens Park, and is attracting many mums and dads investors and first home buyers. The area has good infrastructure and, for its location, it is good value.”
Smart says that with the recent amount of development in the area, the unit market is a little on the oversubscribed side, but that houses show good potential. “On the large blocks of land, demand from developers is good thanks to its close proximity to the CBD.”
Best street(s): Bargain hunters can find some of the cheapest properties along Reginald St, Dora St or Whitlock Road, while the more expensive houses are located along Treasure Road and Dowley Ct.