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%
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.