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Canning Vale, WA 6155

Home » WA Real Estate Data » City of Canning, WA » Canning Vale, WA 6155

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Canning Vale, WA 6155 located in Perth to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Yield 

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Buy 

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Canning Vale, WA 6155”

  1. The total adult population (15 years or older) of Canning Vale 6155 WA is 27,814, with a median age of 37. Of those, 57.92% are married, 7.34% are divorced or separated, 31.64% are single and 3.12% are widowed.

    The average household size is 3.1 people per dwelling, and the median household monthly income is estimated to be $9,504. The median monthly mortgage repayment for households in this suburb is $2,000 which is 21.04% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Canning Vale, with the postal code 6155, is comfortably situated in Western Australia and is home to approximately 13,159 households. As we move into Q3 of 2023, statistics show that average house prices in this suburb are priced at $741,539. Meanwhile, the median weekly rent stands at $547, which generates an indicative yield of 3.84%.

    Diving deeper into the socio-economic aspects of this area, Canning Vale boasts an IRSAD score of 1052 out of 1217. This relatively high score reflects a good socio-economic status among the residents, indicating access to better economic resources, high income levels, and skilled professions.

    Looking at housing demographics, the suburb exhibits a healthy renter to owner ratio of 18%, suggesting that the majority of the residents are homeowners. This is beneficial for investors since markets dominated by homeowners typically yield better investment returns and maintain a more stable and desirable neighbourhood atmosphere. Additionally, the units to houses ratio is a mere 1%, signifying a market lean towards houses rather than units, potentially contributing to increased rental yields due to reduced competition.

    Affordability is slightly on the higher side in Canning Vale, with the affordability index sitting at 31 years. This figure indicates the estimated duration required for a resident to fully own a property in this area, with the assumption of a standard 30-year mortgage. Despite the slightly higher time frame, investors can feel confident about the market’s stability and long-term growth potential.

    In terms of supply, the stock on market Percentage for houses rests at a favourable 0.32%, below the 0.4% ideal limit. The inventory level for these residences trends towards a favourable low supply scenario at 1.24 months—indicating swift market absorption rates for houses hitting the market. Furthermore, the building approvals Ratio remains delightfully low at 0.04%, suggesting a lack of upcoming competition from new developments.

    The average days on market for houses in Canning Vale is 33. This suggests a high demand where properties are typically sold shortly after listing, which is a positive sign for prospective investors seeking reliable turnover. Moreover, the vacancy rate (combining house and units) stands at a truly optimal 0.81%, underscoring high demand and potentially higher rents. However, the buy search index for houses is just within the neutral range at 3, indicating average interest from prospective buyers in the area.

    In conclusion, while some indicators seem to hover along the borderline, overall the suburb of Canning Vale demonstrates favourable traits for property investment. Nonetheless, it remains essential for investors to track market trends, monitor potential changes, and utilise tools like the RCS (Relative Composite Score) by HtAG Analytics to inform their investment strategies.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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