A steady increase in median property prices over a five-year period in the suburb translates to a -5.43% capital gain.
Property investors in SORRENTO enjoyed capital gains of 1.95% over the last 12 months translating to lower returns compared with its peers in the territory.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $915,000.
Profits due to an downward trend in home prices there averaged -1.81% per annum over a 3-year period.
Home owners selling their properties and realtors in SORRENTO usually have to wait an average of 68.3 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $590 mark, reflecting a 3.35% increase in returns based on the current median price in SORRENTO.
SORRENTO, 6020 places 260th in Australia based on median property value growth during the quarter.
Figures from the previous quarter show that capital gains for real estate buyers in SORRENTO are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $440 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $440 mark, reflecting a 8.47% increase in returns based on the current median price in SORRENTO.
SORRENTO, 6020 ranks 102nd in WA in terms of median property value increase and capital gains, based on year-to-date figures.
SORRENTO ranks 6th on the list of best yielding suburbs for rental properties in WA, posting a 8.47% return.
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