With a capital gain of -28.50% for the last 12 months, Derby, 6728 has performed for property investments than its average annual -4.96% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Derby has given property investors a paper return of 14.86%. This puts Suburb as 19 on a list of fastest fasting appreciating suburbs in WA
In the last year 24 properties changed hands in Derby, which puts it as the 333th most active market in WA when comparing the number of sales per suburb.
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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.