2015 Property Grand Final
AFL bragging rights will go to either the country’s east or west coasts on Saturday, but who would take home the silverware in the property stakes?
Analysis of the Hawthorn and Subiaco (home of the West Coast Eagles’ Domain Stadium) house markets by LJ Hooker shows an even contest across a range of metrics.
“They’re both inner-city suburbs: Hawthorn about eight kilometres from the CBD and Subiaco four kilometres from the CBD,’’ said Mathew Tiller, LJ Hooker’s National Research Manager.
“Coincidentally, the average time taken to sell a house in the inner-city markets is near identical at 67.6 for Subiaco and 67.7 days for Hawthorn, respectively.
“Perth has been in a subdued market over the past year while Melbourne has performed very strongly, only behind Sydney in terms of median price growth.
“As expected, Hawthorn had the higher median sale price ($1.44m) and triple the combined value of homes sold over the year ($375m), and more than double the number of properties sold (224).
“Hawthorn residents (13.8 years) were also likely to stay put longer than Subiaco locals (9.9).
“However, while Subiaco’s median house price ($1.2m) dropped 1.8% over the 12 months, it still held its own better than Hawthorn’s (-2%).
“And if you’re landlord, you’d be happier in Subiaco with weekly rents some $100 more and a gross rental yield of 3.3%.”