Question 1

Is Noranda a nice place to live?

Accepted Answer

Noranda is a delightful suburb that offers a serene and welcoming environment, making it a charming place to live. With its peaceful residential streets and a strong sense of community, Noranda is particularly appealing to families and those seeking a tranquil lifestyle. The suburb is known for its lush green spaces and parks, providing ample opportunities for outdoor activities and family picnics. The community vibe is warm and inclusive, with a mix of young families and older residents contributing to a supportive and harmonious atmosphere.

Living in Noranda means enjoying the convenience of nearby amenities, including shopping centres, schools, and public transport options, which enhance the suburb's livability. The proximity to major roads ensures easy access to Perth's CBD and surrounding areas, making it a practical choice for commuters. Safety is generally not a concern, with the suburb maintaining a reputation for being a secure and family-friendly area.

However, there are some trade-offs to consider. While Noranda offers a peaceful suburban lifestyle, it may lack the vibrant nightlife and cultural attractions found in more urban areas. Additionally, the absence of major new transport projects means that residents may need to rely on existing infrastructure for their commuting needs. Despite these considerations, Noranda remains an attractive option for those who value a settled and community-oriented lifestyle, with plenty of green spaces and a relaxed suburban charm.

Question 2

Is it expensive to live in Noranda?

Accepted Answer

Living in Noranda can be quite pricey, especially when it comes to buying a home. The current median house price is a hefty $1,280,000, which is significantly higher than many other Perth suburbs. This means that purchasing a house in Noranda would require a substantial financial commitment. If you're looking to rent, the average rent for houses is about $780 per week, which is also on the higher end compared to other areas.

When comparing the local income data, the median total household income in Noranda is $1,632 per week. This is relatively modest when you consider the high property prices. In contrast, the average full-time wage in Perth is approximately $95,000 per year, which translates to about $1,827 per week before tax. This suggests that a significant portion of one's income would go towards housing costs in Noranda, making it a less affordable option for those earning an average wage in Perth.

Overall, while Noranda offers a suburban lifestyle with its own set of amenities, the cost of living, particularly in terms of housing, is quite high. If you're thinking of living in Noranda, it's essential to evaluate your financial capacity to ensure it aligns with the expenses associated with residing in this suburb.

Question 3

Is Noranda a good place to invest?

Accepted Answer

Noranda is showing promising signs as a good place to invest, especially if you're looking for a suburb with strong recent growth. Over the past year, the median house value in Noranda has increased by 17.5%, while units have seen an even more impressive rise of 19.4%. This indicates a robust demand for properties in the area, which is a positive signal for potential investors.

In terms of rental returns, Noranda is also performing well. The rental prices for houses have gone up by 4.0%, and units have experienced a significant 12.7% increase in rent over the last 12 months. This suggests that the suburb is attractive to renters, which can be beneficial for investors looking for steady rental income.

Overall, Noranda's recent growth in property values and rental prices makes it an appealing option for investment. The suburb's ability to attract both buyers and renters could provide a balanced opportunity for those looking to invest in the real estate market. With its current trajectory, Noranda seems to offer a solid mix of capital growth potential and rental yield, making it a suburb worth considering for investment.

	Houses	Units
Median price Past 3 months	$1.30M	N/A
Change in value Past 12 months	19.6%	18.7%
Sold Past 3 months	13	3
Median days on market Past 12 months	9	8
Average rent Past 12 months	$790	$620
Change in rent Past 12 months	5.3%	12.7%

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