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Hovea, WA 6071

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 Hovea, WA 6071 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.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

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 “Hovea, WA 6071”

  1. The total adult population (15 years or older) of Hovea 6071 WA is 606, with a median age of 51. Of those, 55.61% are married, 13.04% are divorced or separated, 27.89% are single and 3.80% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $11,548. The median monthly mortgage repayment for households in this suburb is $2,167 which is 18.77% of their earnings.

    Source: ABS Census Data (2021)

  2. Hovea 6071, located in Western Australia, hosts a modest number of around 285 households. With typical house prices sitting at approximately $924,531 in Q3 of 2023, the median weekly rental rate is estimated at $510, generating an indicative yield of 2.87%.

    The socio-economic position of the community is strongly established, as depicted by the IRSAD score of 1103 out of a possible 1217. The community is predominantly composed of homeowners, reflected in the low renter to owner ratio of 4%. The market is dominated by freestanding homes, confirmed by a units to houses ratio of 0%. However, it seems it may take some time for residents to reach full homeownership, with the affordability index marked at 31 years for houses, slightly above the national average.

    In terms of supply, the housing market appears neutral – the stock on market Percentage for houses is at a balanced 0.7%. This correlates with the inventory level for houses at a high of 8.0 months, indicating a robust market supply. New residential building also contributes to the property supply, with the building approvals Ratio at 2.11%, slightly higher than preferred.

    The demand side shows that houses in Hovea are on the market for 45 days on average, meaning the demand is somewhat average. The vacancy rate for both houses and units combined sits on a balanced level at 3.0%, indicating a healthy turnover of rental properties. Hovea does not seem to have high popularity among potential buyers, as reflected in the buy search index for houses at 3, which falls into the neutral range.

    Overall, the property market in Hovea has several indicators that can be appealing for potential investors considering the long-term potential and stability offered by the suburb. It is always prudent to consult authoritative sources or use advanced property market analysis tools like RCS offered by HtAG Analytics, and remember to analyse the current trend in each of these metrics over time before making a final investment decision.

    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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