Derby is in the TOP 10% in WA when comparing median price capital growth over the last year. Derby gave property investors a very good capital gain figure when compared to the rest of the state, with 10.29%.
At number 1st of WA’s most discounted properties, Derby is in the bottom 10% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Derby have been waiting around 135.95 days to sell a property.
A $300 per week rent on the median house gives suburb investors a gross yield of circa 8.32%, without taking into account capital value appreciation, which has been averaging out at -4.29%.
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While the bulk of Western Australia’s recent successes on the property front have been in the Pilbara region, Kimberley has been making a name for itself of late, and Derby is most certainly one to watch there.Full summary
While the bulk of Western Australia’s recent successes on the property front have been in the Pilbara region, Kimberley has been making a name for itself of late, and Derby is most certainly one to watch there.
What it’s got going for it, says Crawford Realty sales consultant Morgan Crawford, is a whole slew of government and resource related projects that are in the pipeline.
“There are quite a few government projects that have been proposed – a new prison for example. And if you have a look at RP Data you’ll notice that the rental market has tightened up hugely, and rental prices have jumped up 10-15% in the last six months,” he says.
Fuelling this rental growth is an extremely low vacancy rate. In fact, Derby’s vacancy rate has been at 0% for more than two years according to SQM Research figures.
As well as the construction of the $150m Derby Regional Prison, Derby’s property market is expected to benefit from the expansion of the Kimberley diamond and iron ore mines on Koolan and Cockatoo Islands, the proposed $550m Deep Water Port Facility at Point Torment, the proposed Browse Basin Gas Project and resource giant Inpex's $25bn Ichthys LNG venture.
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