All About Palmyra, Melville, WA, 6157

Palmyra, located in the City of Melville, Western Australia, is a well-regarded suburb that has generated considerable interest in the housing market due to its attractive lifestyle offerings and strategic location. In recent years, Palmyra has witnessed a stable growth in property values, underscoring its desirability among families, young professionals, and retirees alike. The suburb's blend of established homes, often on generous blocks, and newer developments provides diverse options for buyers. With the real estate market in Perth generally experiencing an upward trend, Palmyra benefits from this buoyancy, though it remains more affordable compared to some of its more central or coastal neighbor suburbs. Buyers are particularly drawn to the suburb's charming character homes, thriving community spirit, and the potential for property appreciation, all of which contribute to its appeal as a stable investment.

Living in Palmyra offers a pleasant suburban experience with a variety of conveniences and amenities close at hand. Residents enjoy the family-friendly atmosphere, with a range of parks, recreational facilities, and reputable schools contributing to a wholesome community environment. The suburb's proximity to Fremantle provides easy access to vibrant cultural, dining, and shopping experiences, while the nearby Swan River offers scenic spots for outdoor activities. Palmyra is well-served by public transport, making commuting straightforward for those working in Perth's city center or surrounding areas. The local community is tight-knit and diverse, fostering a friendly neighborhood vibe that is welcoming to newcomers. Overall, Palmyra delivers a harmonious balance between the tranquility of suburban life and the conveniences of urban amenities, making it an attractive place to settle down.

Palmyra Real Estate Market Outlook

Thinking about buying in Palmyra? Now could not be a better time, with 5354 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $820,000 with prices in this suburb ranging from $164,000 to $2,825,000. Palmyra is located fairly close to the coast at just 2Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. High average incomes in Palmyra ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. A mix of professions and above average income earners in Palmyra provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Palmyra requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Instant Property Valuation

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Public Transport

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General Points of Interest

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