Located in Western Australia within the Melville local government area, Applecross is a medium-sized suburb (postcode 6153). The area has roughly 7,228 residents and a settled mid-life population, with a median age of 44. Households earn a median income of $128K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.8% year-on-year at the LGA level. WA employment has moved +1.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. WA also had 31 Commonwealth-backed major projects under construction, 7 underway, and 16 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Chinese.
The median house price in Applecross is $1.9 million, having climbed sharply by 27% over the past year. Units have a median price of $750,000 (+4.9% YoY). The current median weekly rent is $860. This gives a gross rental yield of approximately 2.3%. The median monthly mortgage repayment is $2,800.
Applecross is served by 2 schools, including 2 primary. The average ICSEA score is 1154, which is well above the national average of 1,000. Public transport access includes 34 bus stops.
From an investment perspective, The gross rental yield works out to roughly 2.3%, which reads as low yield. Property prices are above the state median ($1.9M/$951K), placing it in the premium segment. The price-to-income ratio of 15.3x is considered stretched. House prices have moved +27.0% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.