Spencer Park WA Property Investment
Albany · 6330 · Score: 53/100 · Hold
Spencer Park Short-Term Rental (Airbnb) Market
Spencer Park WA Investment Brief
HOLD — 5.7% gross yield on a $640,000–$718,000 (sources disagree, range shown — do NOT quote a single number) median.
THE MARKET
Spencer Park has compounded at 2.1%/yr over 5 years. Median sits in the $640,000–$718,000 (sources disagree, range shown — do NOT quote a single number) band today. Properties are sitting on market for 45 days (roughly balanced conditions).
- Median house: $640,000–$718,000 (sources disagree, range shown — do NOT quote a single number) | Units: $503,159
- Gross yield: 5.7% | Net yield: 4.2%
- 5yr price CAGR: 2.1%/yr | 3yr forecast: 13.5%/yr
- Population: 3,445 | Owner-occupier rate: 70% | Affluence: Average
- Supply pipeline: Low — Price growth outpacing new supply, limited development pipeline
RENTAL SNAPSHOT
- Vacancy: 3.0% (stable) | Rental demand: Moderate
- Median weekly rent: $785/wk | Days on market: 45 (stable)
- Tenant market — vacancy elevated, negotiate hard on rent.
SHORT-TERM RENTAL
Insufficient STR data for this suburb. Run a specific address analysis for property-level STR projections.
INFRASTRUCTURE & CATALYSTS
- No major confirmed infrastructure projects on record.
- Transport: Albany station 2.4km away
BULL CASE
If Spencer Park maintains 3%+ annual growth and vacancy stays below 2.1%, median prices could reach $828,000 within 3 years with yields compressing slightly as capital values rise.
BEAR CASE
A market correction or interest rate shock could see prices in Spencer Park pull back 10-15% from $720,000, with vacancy rising to 5.0% and rental yields softening as tenants gain leverage.
KEY RISKS
- Distance from CBD may limit long-term capital growth potential
COMPARABLE MARKETS
- Mandurah (WA): $746,319 median, 3.8% yield, 16.5% 1yr growth
- Balga (WA): $750,000 median, 5.0% yield, 14.1% 1yr growth
- Girrawheen (WA): $775,000 median, 4.4% yield, 16.5% 1yr growth
THE PLAY
Spencer Park offers balanced fundamentals but does not present an urgent buying signal. The market is in a recovery phase with moderate vacancy risk. Monitor vacancy trends and price movements over the next 6-12 months. Only enter if a property can be acquired at or below median pricing with yields exceeding 6.2%.
- Entry range: $648,000 – $792,000
- Minimum gross yield to target: 6.0%
- 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.
Gentrification Index
Growth Forecast
high confidenceBasis: 5yr CAGR 2.1% + 10yr CAGR 3.9%
- −High supply pipeline (1147 new approvals) — may cap price growth
Suburb Metric Thresholds
Macro Environment
Macro Indicators
Cash Rate
4.35%
▲ 0.25%Cash rate as at 2026-05-06 · Credit data 2026-04
Suburb Supply & Demand
Suburb Supply Pipeline — New Dwelling Approvals
156
2020
370
2021
173
2022
206
2023
242
2025
New dwelling approvals — higher numbers mean more future supply
Socio-Economic Profile
Source: ABS Census 2021SEIFA Index · Postcode 6330
Decile 5 of 10 — Average
Population
38,042
Education (IEO)
4/10
Econ. Resources (IER)
5/10
10-Year Investment Projection
Modelled on Spencer Park WA data — rent, capital growth, tax, and depreciation over 10 years.
Pre-filled: $785/wk median rent for Spencer Park. Capital growth and rent increase are editable assumptions.
Nearby Suburbs
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Analyse a Property →Data sourced from ABS, state government property sales, and Airbnb market analytics. For informational purposes only — not financial advice.