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:
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.