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Property investors enjoyed capital gains of 10.38% over the last 12 months in KINROSS, translating to lower returns compared with its peers in WA.
Figures from the previous quarter show that capital gains for real estate buyers in KINROSS are low, as opposed to average gains per annum over the past five years.
The suburb posted a 52.89% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $750 based on current median home prices for the suburb.
On average, rents on listings have reached the $750 mark, reflecting a 4.22% increase in returns based on the current median price in KINROSS.
KINROSS, 6028 ranks 351st in WA in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 229th on the list of best yielding suburbs for rental properties in WA, posting a 4.22% return.
Kinross, located approximately 32 kilometres north of Perth's central business district, is a suburb within the City of Joondalup in Western Australia. Established in the early 1990s, the suburb spans an area of about 2.8 square kilometres and is bordered by Burns Beach to the west, Tamala Park to the north, Neerabup to the east, and Currambine to the south.
As of the 2021 census, Kinross had a population of 6,988 residents, with a median age of 36. The community comprises a mix of families, professionals, and retirees, contributing to a diverse demographic profile.
Public transportation in Kinross includes several bus routes connecting to the Joondalup Line via Currambine and Clarkson railway stations, facilitating access to Perth and surrounding areas. Major bus routes serving the suburb include 471, 473, and 474.
The suburb offers essential amenities, including the Kinross Central Shopping Centre, which features a variety of stores such as a supermarket, pharmacy, and dining establishments. Residents can access the nearby Currambine Central Shopping Centre and Lakeside Joondalup Shopping City for more extensive shopping needs. Educational facilities within Kinross include Kinross Primary School and Kinross College, catering to students from kindergarten to year ten.
Recreational activities are a highlight of Kinross, notably the numerous parks and green spaces such as MacNaughton Park, which offers playgrounds, sports fields, and a community centre. The suburb is also home to the Westside Soccer Club, providing opportunities for local sporting engagement. Additionally, the nearby coastline offers easy access to beaches like Burns Beach, famous for swimming and picnicking.
Kinross's combination of suburban tranquillity, accessibility, and community amenities contributes to its reputation as a desirable suburb within the Perth metropolitan area.