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%.
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
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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.
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.