If you compare the increase in value of investment property in Queens Park, 6107 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was 4.94%.
A -7.86% growth in median value for property investors in Queens Park,6107 puts this suburb at number 276th in terms of best performing suburbs in WA
Property investors looking for a bargain in Queens Park should be aiming for at least -5.30% off the asking price, which is the average vendor discount being achieved at the moment.
At number 2550 in a list of fastest selling suburbs, Queens Park is in the bottom 40% of suburbs in Australia with an average of days on market 66.7101 for properties listed there.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 4.77%, without taking into account capital value appreciation, which has been averaging out at 0.63%.
Investment property in Queens Park has done pretty 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 1.63%
Taking the average capital gain, or increase in median house value, Queens Park,6107 has racked up an average of 1.63% over the period. This ranks it number 1622th in the whole country for real estate investors looking at median house price increases.
Situated 10.16km from the CBD, Queens Park is one of Canning (C) localities in the postcode 6107.
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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.