WA has seen average median house prices change by 12.86% which means that Orelia, 6167 has done well for property investors by showing a capital gain of 0.00% over the last year
Orelia,6167 was ranked 12 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Orelia should be aiming for at least -7.20% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 14.78%, investors should hope to achieve an overall return of 6.79%
Property investors who have had real estate in Orelia, 6167 should be 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 42.01%
While Orelia,6167 ranked number 4th in WA for increase in median house value (annualised) increase, it is ranked 100th over the last 5 years.
Property buyers and investors in Orelia 6167 should be seeing an average reduction in asking price of around 0.00% . This means that Orelia is holding prices well when compared to other suburbs in WA.
Orelia is 71th on a list of best yielding suburbs for rents in WA with a 0.00% return
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The last time Orelia racked up double digit growth was in 2007 when it notched up a staggering 20% annual growth. Since then, it’s been mostly downhill for the suburb with the exception of 2010 when it recorded a modest 4% increase in median value according to Residex. However, there are now indications that the worst is over for the suburb.
Local agent Sam Winmar says Orelia has a good mix of older and newer properties that is beginning to attract first-time homebuyers and investors looking for some of the region’s best rental yields. This lower priced suburb became a much more viable to option to young professionals following the opening of the nearby Kwinana rail station, which will get commuters to the CBD in 30 minutes. The Kwinana government is investing heavily in local infrastructure, and work has already begun to improve the nearby major shopping centre.
Best Street(s): Nottingham Parkway has several stately homes and faces the wildflower reserve, yet is just a short walk to the new Kwinana rail station.