Investment property in Derby has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.11%
If we look at median property appreciation over just the last three months, Derby has given property investors a paper return of 2.56%. This puts Suburb as 66 on a list of fastest fasting appreciating suburbs in WA
Vendor discounting in Derby is giving property investors an average Vendor Discount of around -17.83%. This puts suburb at number 4th in WA when ranking the most discounted suburbs.
At number 2913 in a list of fastest selling suburbs, Derby is in the bottom 30% of suburbs in Australia with an average of days on market 100.43 for properties listed there.
With the median price for a house in Derby being $200000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 7.80%
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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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