Cannington (postcode 6107) is a medium-sized suburb in Western Australia within the Canning local government area. The area has roughly 6,875 residents and a young professional demographic, with a median age of 30. Households earn a median income of $81K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.5% 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, community & personal service, technicians & trades. Employment in the area leans toward accommodation & food and healthcare. The top ancestries reported are Chinese, English, Australian.
The median house price in Cannington is $600,000, having risen steeply by 17.9% over the past year. Units have a median price of $411,000 (+8.2% YoY). The current median weekly rent is $750. This gives a gross rental yield of approximately 6.5%. The median monthly mortgage repayment is $1,512.
Cannington is served by 3 schools, including 1 secondary, 1 combined, 1 special. The average ICSEA score is 977, which is around the national average of 1,000. Public transport access includes 2 rail stations, 2 ferry wharfves, 31 bus stops. Healthcare facilities include 1 private hospital.
Looking at the investment signals, The gross rental yield works out to roughly 6.5%, which reads as high yield. Property prices sit below the state median ($600K/$951K), which can point to relative value. The price-to-income ratio of 7.4x is considered moderate. House prices have moved +17.9% year-on-year. Population growth of +1.5% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.