WA has seen average median house prices change by -2.74% which means that Palmyra, 6157 has not done well for property investors by showing a capital gain of 6.39% over the last year
While Palmyra,6157 ranked number 77th in WA for increase in median house value (annualised) increase, it is ranked 78th over the last 5 years.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.58% offered to property buyers. Sellers in Palmyra itself are offering an average vendor discount of -7.49% to real estate investors.
Palmyra, 6157’s gross rental yield is 3.41%
Investment property in Palmyra 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 -5.13%
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.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -9.70% offered to property buyers. Sellers in Palmyra itself are offering an average vendor discount of -9.17% to real estate investors.
Palmyra, 6157’s gross rental yield is 4.69%
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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.