Property value increases in Orelia have tracked lower than the WA average of -2.31% over the last 12 months.
Comparing Orelia,6167 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Vendor discounting in Orelia is giving property investors an average Vendor Discount of around -11.23%. This puts suburb at number 51th in WA when ranking the most discounted suburbs.
With the median price for a house in Orelia being $230000 and the advertised rent reaching $275 the gross rental yield for property investors calculates out to be 6.22%
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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.