Gelorup is a smaller residential area in Western Australia within the Capel local government area (postcode 6230). The area has roughly 2,255 residents and a settled, mature resident base, with a median age of 46. Households earn a median income of $121K per year, with an average household size of 2.9 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +2.1% 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, technicians & trades, clerical & administrative. Employment in the area leans toward healthcare and construction. The top ancestries reported are English, Australian, Scottish.
Gelorup has a median house price of $833,000, which has jumped by 15.6% year-on-year. The current median weekly rent is $600. This gives a gross rental yield of approximately 3.7%. The median monthly mortgage repayment is $2,000.
Gelorup is served by 1 school, including 1 combined. The average ICSEA score is 1100, which is well above the national average of 1,000.
Looking at the investment signals, The gross rental yield works out to roughly 3.7%, which reads as moderate yield. Property prices are near the state median ($833K/$951K). The price-to-income ratio of 6.9x is considered moderate. House prices have moved +15.6% year-on-year. Population growth of +2.1% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.