Giving property investors a an unimpressive capital gain of 8.33% for the last year, Fremantle, 6160 is the 2971th highest performer in Australia in this respect.
While Fremantle,6160 ranked number 130th in WA for increase in median house value (annualised) increase, it is ranked 158th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Fremantle is offering property investors an average of -4.59. This rate of discount on properties puts Suburb at number 239th in terms of most discounted suburbs in WA
Property investors should expect to get $605 weekly from the median priced house in this suburb.
At number 869th in the list of Australian suburbs ordered by increase in median house value over the last year, Fremantle, 6160 is in the BOTTOM 50% with a property value increase of 6.12% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Fremantle comes in at number 24th in WA.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.09% offered to property buyers. Sellers in Fremantle itself are offering an average vendor discount of -3.94% to real estate investors.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 4.30%, without taking into account capital value appreciation, which has been averaging out at 2.79%.
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While Perth is expected to see an increase in fly-in, fly-out (FIFO) tenants as the WA resources sector picks up over the next year or so, Fremantle too is getting its fair share of interest from the FIFO crowd.
“We have recently received a lot of applications for rental properties from eastern states and ‘fly-in, fly-out’ tenants, and this usually translates to a corresponding increase in home sales,” says Raine & Horne Fremantle principal John O’Neil.
“However, we will need to wait until the FIFO’s start earning money from their work in the resources sector before this happens.”
In terms of where’s hot in Fremantle at the moment, O’Neil points to Hilton as one suburb that’s performing especially well given the current subdued market conditions thanks to its level of affordability.
“Homebuyers have been chasing homes in Hilton, on the outskirts of Fremantle, where you can buy three-bedroom homes in the low $400,000s,” he says.