Westminster

POSTAL CODE: WA, 6061

HOUSE

UNIT

Property investors have seen a 5.34% gain in WESTMINSTER based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on WESTMINSTER, 6061 can rest assured about this WA suburb's performance. The suburb saw median home prices rise by 16.1%.

Based on its average 5-year and quarterly capital gains WESTMINSTER, 6061 saw average growth in the long term.

The WA suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $750,000

Profits averaged 26.67% per annum over a 3-year period, due to an upward trend in home prices in WESTMINSTER, 6061.

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

The gross rental yield in WESTMINSTER, 6061 is 4.85%.

An average of 11.75 real estate transactions take place per month in WESTMINSTER which translates to 141 per annum.

Property investments in WESTMINSTER fare well against the rest of the country last year, registering a median home price increase of 7.18%.

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

Based on its average 5-year and quarterly capital gains WESTMINSTER, 6061 saw average growth in the long term.

This means, real estate investors could earn a rental income of $650 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In WESTMINSTER, homes and units usually stay on listing for an average of 24.6 days.

the WA suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $627,000

Investors saw the median home price rise to $627,000.

WESTMINSTER ranks 80th on the list of best yielding suburbs for rental properties in WA, posting a 5.39% return.

Surburb overview

Westminster, located approximately 11 kilometres north of Perth's central business district, is a suburb within the City of Stirling. Formerly part of Balga, it was renamed Westminster in 1995 at the residents' request, adopting the name of the original estate that existed before the residential subdivision.

As of the 2021 census, Westminster had a population of 7,042, with a median age of 34. Households primarily consist of couples with children, and the suburb features a mix of housing types, including separate houses and semi-detached dwellings.

Westminster is served by several Transperth bus routes, providing residents with access to Perth's CBD and surrounding areas. Major roads such as Wanneroo Road and Mirrabooka Avenue enhance connectivity to neighbouring suburbs.

The suburb offers various amenities, including the Stirling Central Shopping Centre, for daily needs. Healthcare services are accessible in neighbouring areas. Educational institutions within Westminster include Westminster Primary School and St Gerard's Catholic Primary School, catering to the local community's academic requirements.

Westminster features several parks and recreational facilities, providing residents with spaces for outdoor activities and community events.

The median house price in Westminster is approximately $600,750, with a compound growth rate of 29.2% for units over the past year. The median house rent is around $650 per week, reflecting an 18.2% increase over the last 12 months.

Westminster combines suburban living with convenient access to Perth's CBD, offering residents a multicultural and peaceful neighbourhood with essential amenities and recreational opportunities. Its ongoing development and community facilities contribute to its appeal as a residential suburb within the Perth metropolitan area.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$750,000	$627,000
Growth Report
Median Quarterly	5.34%	4.5%
Median 12 month	16.1%	7.18%
Median 3 years	80.07%	68.32%
Median 5 years	117.39%	109%
10 years average annual	6.34%	6.68%
Weekly media advert. rent	$700	$650
Time on Market	24 days	24.6 days
Gross Rental Yield Percent	4.85%	5.39%

Demographics (Median Values)*

Total Population 38563

Weekly Household Income 1225

Household Size 2.50

Average Age 32

Monthly Loan Repayment 1733

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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