5 key changes sought to drive WA property market
Politicians are being urged to make real estate a key focus of elections, in a bid to create a fairer and more prosperous market. ...
The suburb’s capital gain of 3.06% for the past year is higher than average compared to its -11.9% growth within a five-year period.
Also in YANCHEP, the median home price is sitting at $370,000, and the average rent at $320, this suggests property owners could potentially earn a 4.5% increase in gross rental yield.
Property investors have seen a 2.78% gain in YANCHEP based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 0.06% growth over a ten-year period. It ranks 3808th on our list of suburbs that property investors should look into.
Yanchep is an outer suburb that lies 56 kilometres north of the Perth CBD. It is dubbed as the fastest growing suburb in the capital, adding thousands to its population every year.
In light of the area's swelling population, Yanchep’s council has taken steps to address the growing demands for housing and infrastructure in the suburb. There are ongoing construction projects that include a Metronet railway and a highway link connecting a major highway and a freeway. The suburb is expecting to accommodate 1 million people once the transport links are completed.
Recent Yanchep land sales involved large lots that were released for rezoning. A number of housing estates, including a golf estate, are soon to rise in the suburb. Beachside lots are also a big hit and make up a portion of the land sales in the area. Realtors agree that what makes Yanchep attractive to families and professionals tired of the rat race is its natural wonders and amenities within reach.
Popular landmarks
Yanchep is popular among tourists for its Yanchep National Park, a nice, relaxing reserve perfect for holding family picnics and interacting with Australia's koalas and western grey kangaroos. Its lagoon is also a favourite hangout among tourists and locals for its unspoilt white-sand beaches harbouring glistening, azure waters.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $370,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 2.78% | N/A |
| Median 12 month | 3.06% | N/A |
| Median 3 years | -1.6% | N/A |
| Median 5 years | -11.9% | N/A |
| 10 years average annual | 0.06% | N/A |
| Weekly media advert. rent | $320 | N/A |
| Time on Market | 88.8 days | N/A |
| Gross Rental Yield Percent | 4.5% | N/A |
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