Investment property in Orelia has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.72%
While Orelia,6167 ranked number 191th in WA for increase in median house value (annualised) increase, it is ranked 246th over the last 5 years.
At number 175th of WA’s most discounted properties, Orelia is in the middle of the state/territory when listing in order of most discounted to least.
Renters in Suburb are facing rents around $3360 per annum or $280 every week.
At number 1349th in the list of Australian suburbs ordered by increase in median house value over the last year, Orelia, 6167 is in the BOTTOM 30% with a property value increase of -3.75% recorded in median house prices.
Orelia,6167 has offered an average of -3.75% return per annum in house price rises to property investors over the last three years.
Orelia, 6167 is offering WA ‘s 21th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this WA.
Property investors should expect to get $200 weekly from the median priced house in this suburb.
Orelia has a good mix of older and newer properties that is beginning to attract first homebuyers and investors looking for some of the region’s best rental yieldsFull summary
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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.