Ongerup WA Property Investment

CAUTION — 8.3% gross yield on a $85,000 (pending peer validation) median.

Median house price in Ongerup sits at $85,000 (pending peer validation) with 45 days on market and a 3.0% vacancy rate. This is a tenant-favourable market right now.

• Median house: $85,000 (pending peer validation) | Units: $0
• Gross yield: 8.3% | Net yield: 6.8%
• 5yr price CAGR: -0.2%/yr | 3yr forecast: 13.5%/yr
• Population: 114 | Owner-occupier rate: 59% | Affluence: Above Average

• Supply pipeline: Low — Price growth outpacing new supply, limited development pipeline

• Vacancy: 3.0% (stable) | Rental demand: Moderate
• Median weekly rent: $135/wk | Days on market: 45 (stable)
• Tenant market — vacancy elevated, negotiate hard on rent.

• Median nightly rate: $588/night | Occupancy: 37%
• Estimated annual STR gross: ~$79,350/yr
• vs long-term rent: $7,020/yr (+1030% STR premium — factor in higher management costs)

• No major confirmed infrastructure projects on record.
• Transport: Pingrup (Historical) station 48.0km away

If Ongerup maintains 3%+ annual growth and vacancy stays below 2.1%, median prices could reach $97,750 within 3 years with yields compressing slightly as capital values rise.

A market correction or interest rate shock could see prices in Ongerup pull back 10-15% from $85,000, with vacancy rising to 5.0% and rental yields softening as tenants gain leverage.

• Distance from CBD may limit long-term capital growth potential

• Kondinin (WA): $87,000 median, 7.2% yield, 20.8% 1yr growth
• Wyndham (WA): $100,000 median, 6.4% yield, 25.0% 1yr growth
• Miling (WA): $80,000 median, 9.0% yield, 0.0% 1yr growth

Ongerup carries elevated risk that outweighs potential returns at current levels. A recovery market combined with moderate vacancy risk warrants caution. Avoid new acquisitions unless significant discount to median pricing is achievable. Re-evaluate if vacancy falls below 2.5% or annual price growth exceeds 3%.

• Entry range: $76,500 – $93,500
• Minimum gross yield to target: 8.6%
• Watch signal: vacancy dropping below 2% and days on market falling below 35

This analysis is for informational purposes only and does not constitute financial, legal, or investment advice. Seek professional advice before making investment decisions.