At number 2396th in the list of Australian suburbs ordered by increase in median house value over the last year, Cable Beach, 6726 is in the BOTTOM 50% with a property value increase of 2.62% recorded in median house prices.
If we look at median property appreciation over just the last three months, Cable Beach has given property investors a paper return of 1.95%. This puts Suburb as 170 on a list of fastest fasting appreciating suburbs in WA
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Cable Beach, 6726. Typically our figures indicate that -6.40% is being offered, which puts this WA suburb at 387th most discounted overall in Australia.
Using the current median advertised rental of $620 and the average annual increase in value of a median property of -3.30%, investors should hope to achieve an overall return of 6.86%
Investment property in Cable Beach has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -12.73%
If we look at median property appreciation over just the last three months, Cable Beach has given property investors a paper return of -4.00%. This puts Suburb as 96 on a list of fastest fasting appreciating suburbs in WA
Property investors looking for a bargain in Cable Beach should be aiming for at least -6.78% off the asking price, which is the average vendor discount being achieved at the moment.
A $385 per week rent on the median house gives suburb investors a gross yield of circa 13.90%, without taking into account capital value appreciation, which has been averaging out at -8.59%.
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Information supplied by:
Nicole Smyth
PRD Nationwide - Broome
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0459329290
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www.prdbroome.com.au
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[email protected]
Cable Beach WA 6726
Main selling points:
Cable Beach is one of the most popular suburbs in Broome. It is close to the iconic Cable Beach with many of the homes within walking distance. It is close to great services, walkways, parks, restaurants and bars.
Properties most in demand:
4 bed, 2 bath home with shed and pool
Typical homes:
Steel framed custom orb homes. There are a number of two storey homes that line streets with views of the sands dunes but most are only one-storey.
Suburb amenities:
Beach, Broome Recreation and Aquatic Centre, close proximity to shopping Facilities, Local Public Primary and Secondary School, Catholic Primary and Secondary School, Resorts, Bars, Cafes and Restaurants
Major businesses and employers:
Tourism, building, health, education, public service and mining
Recent changes:
Six Seasons Janaburu development by Landcorp saw a release of land parcels in stages. This has led to many new homes being built.
Best areas and streets:
Sunset Park, Sunset Rise area or Six Seasons overlooking the sand dunes. Due to the proximity to the beach and local cafes and restaurants
Public transport:
The Broome town bus travels through the area which is every half an hour during the tourist season but only every hour during the off season. This is a great service but it is limited and doesn’t service some of the newer estates in Cable Beach such as the Six Seasons.
Access to attractions:
The beach is either a walk or short drive away – 5 mins drive max