Morley (6062) is a suburb in Western Australia that continues to attract attention from both homeowners and investors. Located approximately 8km from the Perth CBD, the suburb is serviced by 6 schools and benefits from solid transport and amenity access.
Morley has a population of approximately 22,539, a median age of 37, a median weekly household income of $1,765. With 69% owner-occupier rate, this is predominantly a homeowner market, which supports long-term price stability. Across the broader LGA, 45.9% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (14.3%), Professional, Scientific and Technical Services (9.5%), Education and Training (9.0%).
The current median house price in Morley is $882,000. The suburb has delivered strong average annual growth of 13.5% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 13%.
Properties in Morley spend an average of 11 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.19%. With inventory levels at just 0.52 months, supply is tight relative to demand. The average vendor discount is -3.3%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Morley is $730. Gross rental yield is 4.3%, providing a solid income return. The vacancy rate of 0.86% signals very strong rental demand. Rents have grown 5.04% over the past 12 months.
The broader local government area is forecast to grow from 69,517 to 70,961 residents by 2031 (2.1% growth).
Explore other suburb profiles in the area: Noranda, WA, Balga, WA, Mirrabooka, WA, Nollamara, WA, Westminster, WA.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Morley or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.