If you compare the increase in value of investment property in Norseman, 6443 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -10.77%.
If we look at median property appreciation over just the last three months, Norseman has given property investors a paper return of -12.51%. This puts Suburb as 446 on a list of fastest fasting appreciating suburbs in WA
In the last year 16 properties changed hands in Norseman, which puts it as the 393th most active market in WA when comparing the number of sales per suburb.
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The suburb of Norseman is situated in the last Western Australian town before the border of South Australia. In the past couple of years, house prices have fallen considerably to reach a median value of less than $100,000.
It is primarily supported by the mining and tourism industries. While the mining downturn could account for Norseman’s decline, tourists may help keep the suburb afloat. Popular sites include the Beacon Hill Lookout, Woodlands Walk and Mount Jimberlana.
Nonetheless, residents still have the convenience of a local high school, a shopping district, a hospital and a business area, which could help reinvigorate the suburb’s appeal. Although Perth is a considerable distance away, buses run through the suburb all the way to the capital.