If you compare the increase in value of investment property in Bibra Lake, 6163 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -5.56%.
A -14.00% growth in median value for property investors in Bibra Lake,6163 puts this suburb at number 401th in terms of best performing suburbs in WA
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 Bibra Lake itself are offering an average vendor discount of -6.49% to real estate investors.
Advertised rents are around the $410 mark per week – giving a return of 4.18% based on the median price in Suburb
At number 1179th in the list of Australian suburbs ordered by increase in median house value over the last year, Bibra Lake, 6163 is in the BOTTOM 30% with a property value increase of -9.37% recorded in median house prices.
While Bibra Lake,6163 ranked number 7th in WA for increase in median house value (annualised) increase, it is ranked 30th over the last 5 years.
With the median price for a house in Bibra Lake being $295000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 6.17%
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On the surface, Bibra Lake would seem like a fish out of the water. Its $460,000 median house price is almost belittled by its direct neighbours such as Leeming, Murdoch and Jandakot, which are all priced above $600,000.
Delve a little closer to Bibra Lake’s shores and the difference becomes even more remarkable. Some 15km from the Perth CBD, Bibra Lake houses are not substantially smaller or worse placed than any neighbouring areas. There are no landfill sites, noisy thoroughfare traffic or public housing to justify the gapping difference in prices – at least not anymore. Once a light industrial area, the suburb’s industry is being scaled back and in its place a popular residential suburb is emerging. Lately, houses are being sold fairly quickly here – just 71 days on the market. Those properties that are within the hands of owners are tightly held, only 0.12% of properties in the suburb are on the market.
The real kicker for the suburb is that, despite being cheaper than its neighbours, it is actually closer to the majority of recreational facilities within this region of Perth. Bibra Lake is the location for several major private recreation facilities, including Adventure World Theme Park, a bungee jumping tower, an ice arena, paintball and laser tag operations and, not least of all, a lake with a surrounding green area popular with families.
Greg Chapman, a real estate agent within the area, says another thing to consider is that the area will soon be the location of the new Fiona Stanley Hospital – which he says should be enough to get investors excited as hospital staff search for properties close to their workplace.
Popular recreational area
Soon to be built hospital