Banksia Grove

POSTAL CODE: WA, 6031
HOUSE

Property investments in BANKSIA GROVE fare well against the rest of the country last year, registering a median home price increase of 13.85%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains BANKSIA GROVE, 6031 saw average growth in the long term.

Real estate investors could earn a rental income of $700 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 17.7 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $740,000.

BANKSIA GROVE ranks 100th on the list of best yielding suburbs for rental properties in WA, posting a 4.92% return.

Surburb overview

Banksia Grove, located approximately 29 kilometres north of Perth's central business district, is a suburb within the City of Wanneroo in Western Australia. Established in the early 1990s, it covers an area of about 4.7 square kilometres and is bordered by Neerabup to the north, Carramar to the east, Tapping to the south, and Mariginiup to the west. 

As of the 2021 census, Banksia Grove had a population of 11,354 residents, with a median age of 30. The community comprises a mix of families, professionals, and retirees, contributing to a diverse demographic profile. 

The suburb predominantly features separate houses, with an average home owned with a mortgage by couples with children. The median house price in Banksia Grove is approximately $620,000, reflecting a 21.9% sales growth. Rental prices have also seen a 14.0% growth, with a median rental price of $650 per week. 

Banksia Grove offers essential amenities, including the Banksia Grove Village Shopping Centre, which features a variety of stores, such as a supermarket, pharmacy, and dining establishments. Residents can access the nearby Joondalup Shopping Centre for more extensive shopping needs. The suburb contains several parks, with Discovery Park being the largest, featuring playgrounds, sports fields, and walking trails. 

Educational facilities within Banksia Grove include Banksia Grove Primary School, Grandis Primary School, and St John Paul II Catholic Primary School, which cater to students from kindergarten to year six. Secondary education options are available at Joseph Banks Secondary College, which caters to students from year seven to twelve. 

Public transportation in Banksia Grove includes several bus routes connecting to the Joondalup Line via Joondalup railway station, facilitating access to Perth and surrounding areas. Major bus routes serving the suburb include routes 390 and 391. 

Banksia Grove's combination of suburban tranquillity, accessibility, and community amenities contributes to its reputation as a desirable suburb within the Perth metropolitan area. 

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