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- The Suburb No One Talks About
The Suburb No One Talks About
The buyers agents that you watch on YouTube aren't talking about this suburb but are buying there :)
Finding Investment Suburbs For Under 450K
Suburb Details:
Suburb | State | Postcode |
|---|---|---|
Orana (Albany) | Western Australia | 6330 |
Since the end of 2022 Perth has been booming and nestled in the outback of Western Australia there is an extremely fast growing regional hub handing out strong returns. In Orana Albany you can find properties for under $500k that are rapidly being snatched up. Properties here are selling like hotcakes and the high quality properties are being snapped up within 24 hours of listing. It is most certainly a hot market gaining about $3-5k per month however it is not as hot as a Perth or regional Queensland. I know some buyers agent's buying in this area but mainstream media have not caught onto this location. It is important to note that Albany as a whole is not booming, it is markets within markets. Read the article below to know my thoughts.
Key Data Metrics
Metric | Actual | Trending |
|---|---|---|
Days On Market | 43 | Steady |
Stock On Market | 0.61% | Trending Down |
Vacancy Rate | 0.2% | Flat |
Gross Rental Yield | ~5.5% | Steady |
Online Interest | 29 | Increasing |
Vendor Discounting | -3.85% | Trending Down |
Proportion Of Renters | 39.1% | Flat |
Current Population | 2,035 | Steady |
*Note: Data derived from either DSR, Suburbs Finder or HTAG depending on reliability and availability of metrics. This is only a guide and best to cross-reference with other sources.
Location & Infrastructure
Orana is a suburb of Albany in Western Australia, located approximately 3 kilometers north of the Albany city center. It is primarily a residential area, with a mix of older homes and newer developments. Key infrastructure includes the Orana Shopping Centre, which provides access to essential retail stores, supermarkets, and services. The suburb is well-connected by public transport, with bus services linking it to central Albany and other nearby suburbs. Orana is home to several educational institutions, including Albany Senior High School and North Albany Senior High School. The suburb also has access to healthcare facilities through local medical clinics and the nearby Albany Health Campus. Additionally, Orana offers various parks and recreational facilities, making it a convenient and family-friendly area for residents.
Other Important Factors:
The low days on market and low stock on market is creating strong house price pressure and forcing them upwards at a steady rate. As the stock continues to deplete this will further drive up demand. Albany also has extremely strong internal migration from Perth and people are moving to settle there.
Albany in itself is an extremely diverse regional hub with healthcare, retail trade, education and construction being its biggest sectors. Contrary to many individuals beliefs Albany is not a mining town and has no dependence on that industry. Tourism is also a strong industry within Albany compared to other regional hotspots in WA.
Orana provides strong rental returns where a 3 bed, 1 bathroom brick and tile home can rent for close to $500. It is important to note that council and water rates are high sitting around the $4k amount in total. Factor this into your calculations.
Nearby Major Projects:
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Example Property:
Metric | |
|---|---|
8 Salvado Road, Orana WA 6330 | |
Purchase Price | $449,000 |
Stamp Duty | <$15,000 |
10% Deposit | $45,000 |
Expected Rental Price | $500/Week |
Expected Gross Rental Yield | ~5.5% |
*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.
Pro’s Of Investing In Orana
Extremely low days on market and low stock on market → Strong Demand.
High quality “brick & tile” investment properties available for under $500k
Orana is in its ideal window in its market cycle to purchase property.
Strong rental yields with strong future capital growth.
Extremely diverse regional hub with a growing population.
Con’s Of Investing In Orana
Large sections of developable land, companies selling plots of land.
Higher council and water rates (close to $4000 in total). Impacts net yields.
Smaller population size of 40,000.
Ultimate Verdict
Orana in Albany has some of the strongest metrics that indicate capital growth will grow strongly for the foreseeable future (1-2 years). This would be an ideal investment for first time investors or investors on their second or third property. With low days on market and low stock on market properties are selling within hours of it coming on domain and realestate. I would also suggest to look at other suburbs within Albany (I will review them) that have similar characteristics as it is getting difficult to secure property within Orana.
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Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organization. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.
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