Investment property in Derby 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 -14.19%
When looking at the potential capital gains offered to property investors over the last 3 years, Derby comes in at number 435th in WA.
Property buyers and investors in Derby 6728 should be seeing an average reduction in asking price of around -15.68% . This means that Derby is holding prices well when compared to other suburbs in WA.
Residents and property investors in Derby have been waiting around 109.24 days to sell a property.
Information supplied by:
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.