Suburb Profile Report for Palmyra WA (6157)

Palmyra House: Median price $630,000, Annual capital growth 1.50%, Number of sales 103, Weekly median advertised rent $430

Palmyra Unit: Median price $440,000, Annual capital growth 1.21%, Number of sales 79, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Property investors who have had real estate in Palmyra, 6157 should be relatively pleased with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.61%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Palmyra has fallen somewhat when compared to the 5 year average annual rate.

At number 236th of WA’s most discounted properties, Palmyra is in the TOP 40% of the state/territory when listing in order of most discounted to least.

On average over the past year, suburb has had 8.58 sales per month, which equates to 103 per year.

Situated 12.10km from the CBD, Palmyra is one of Melville (C) localities in the postcode 6157.

If you compare the increase in value of investment property in Palmyra, 6157 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this WA suburb was 8.64%.

Comparing Palmyra,6157 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period

The most recent median price for Palmyra is $440000, with sellers offering an average of -6.93% off the asking price.

On average over the past year, suburb has had 6.58 sales per month, which equates to 79 per year.

Information supplied by:


July 2017

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Apartment hunters turn their eye to centrally located suburb
Median unit price: $441,000
Three-year growth: -4.03%
Rental yield: 4.07%

Roughly 10 minutes’ drive south of Leighton Beach is the suburb of Palmyra. In the midst of Perth’s downslide, this suburb is managing to maintain some growth in the apartment market.

Prices increased by 1.2% in the past year, and this positive growth was sustained in the April 2017 quarter. As a result, the median unit value broke through the $440,000 mark. Nonetheless, it remains an affordable suburb given the fact that it is less than 30 minutes from Perth. 

Some of the buyer demand could be coming from investors, who can obtain a reasonable yield of 4.1%. Palmyra is a well-stocked suburb that is home to a couple of schools, parks and a reserve. It is also bordered by Canning Highway. Thus, the area could appeal to prospective tenants.

Metrics i HOUSE UNIT
$630,000 $440,000
-2.70% 13.26%
1.61% 8.64%
1.50% 1.21%
$430 $350
103 79
3.55% 4.14%
56.3013698630137 67.9322033898305

Source: Monthly data update for Feb 2020 as supplied by CoreLogic. Data is reported to the period ending Nov 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Good (U)
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Demographics
Total population 6609
Median household income ($/weekly) 1304
Median age of persons 39
Median housing loan repayment ($/monthly) 2000
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 671 10.2
    25-34 years 1048 15.9
    35-44 years 1133 17.1
    45-54 years 893 13.5
    55-64 years 756 11.4
    Others 2108 31.9
    Age Group
    Census Count Percent(%)
    Not Married 2336 47.5
    Registered Married 1953 39.7
    Defacto Relationship 628 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 4446 72.0
    Papua New Guinea 213 3.5
    South Africa 65 1.1
    United Kingdom 725 11.7
    Other 233 3.8
    Others 490 7.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 98 1.7
    Christianity 3803 64.4
    Hinduism 28 0.5
    Islam 44 0.7
    No Religion 1904 32.2
    Others 28 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 247 9.4
    $400-$599 279 10.6
    $600-$799 216 8.2
    $1,500-$1,999 308 11.7
    $2,500-$2,999 330 12.6
    Others 1248 47.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2255 44.0
    Not in the labour force 1514 29.5
    Employed, worked part-time 1032 20.1
    Employed, away from work 208 4.1
    Unemployed, looking for work 118 2.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 409 11.7
    Professionals 1048 30.0
    Technicians & trades workers 505 14.5
    Community & personal service workers 335 9.6
    Clerical & administrative workers 555 15.9
    Others 640 18.3
    Occupation
    Census Count Percent(%)
    Pre-school 82 6.4
    Infants/Primary 441 34.3
    Secondary 274 21.3
    Technical or Further Educational Institution 134 10.4
    University or other Tertiary Institutions 315 24.5
    Others 39 3.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4518 74.5
    Semi-detached, row or terrace house, townhouse 986 16.3
    Flat, unit or apartment 563 9.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1030 36.1
    Fully owned 931 32.6
    Rented 881 30.9
    Other tenure type 11 0.4
    Tenure Type
Census 2011, ABS
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