According to our buyer’s agents and property management team, Cannington is becoming a hot market for Perth property investors. Cannington’s median house price is still $50,000 below its mining boom peak but the rental market is strong, producing above-average rental income.
By the Numbers
Currently, the median price of a house in Cannington is $405,000 while the median advertised weekly rent is $418 for a gross rental yield of 5.36%. There were 115 sales and the annual capital growth is at 9.22%. The average home spent 73.03 days on the market.
The median price of a unit is $383,000 while the median advertised weekly rent is $400 for a gross capital yield of 5.43%. There were 36 sales with an annual capital growth of 10.47%. The average unit spent 78.2 days on the market.
Some other numbers: A total of 52.2% of Cannington residents are single; 41.3% are between 20 and 34 years of age, which is a prime renting age; and the median age in Cannington was 30 at the time of the 2011 Census.
Interpreting the Numbers
We like the rental returns in Cannington and believe the suburb is poised for growth. Renters have traditionally made up about half of Cannington’s population and this suburb provides easy access to the Perth CBD and airport due to great transport facilities. Cannington is also close to Bentley hospital, schools, recreation areas, sporting facilities and the Curtin University of Technology.
Land in Cannington has a recent history of friendly zoning that allows for subdividing, making Cannington a place where it is possible to enhance the value of many investment properties in this Perth suburb. We are seeing a lot of movement and a lot of development in Cannington, making it a great place to invest.
Let Investors Edge Find You a Great Property in Cannington
At Investors Edge, we do nothing but take care of investment properties. We work in Perth and 105 suburbs to ensure that you make the right choice with your investment dollars. Our property management team and buyer’s agents feel that Cannington is one of the best opportunities in the Perth market at this time.
Call 1300 472 427 today for a discussion of your situation and your options. Nobody knows Perth suburbs like Investors Edge.