East Cannington is approximately 11km from the Perth CBD, with around 1212 homes in the area. Although the number of homes in the area is over 1000, the average annual turnover of property is only 57 making East Cannington a Niche Marketplace.
With the close proximity to Perth City, and local amenities like Westfield Carousel, Beckenham Bulkyplex & Cannington Leisureplex this location is sought after by first home buyer and some developers. With land still in abundance in East Cannington, Developers LOVE East Cannington. With the recent lowering of the Public Open Space payments down to 5% (of the purchase price), Development in the area has escalated significantly, with the Gerard & Station Streets going through a major change (2012).
It is probably not a well known fact, but to this date 2/5/2012, East Cannington holds multiple records for high sale prices for the 6107 postcode. For residential properties up to 500 square metres, East Cannington holds 10 out of the 12 most expensive properties ever sold in 6107, Michael & Cameron Smart from Ray White Cannington have sold 8 of these.
The most expensive streets in the area include Tulip Way and Gianatti Ramble, East Cannington.
East Cannington currently has approximately only 28% of its 1212 homes as rental or investment properties, but this will soon change with the increase in development, more properties will become rentals.
The average selling price in East Cannington sitting at $429,000 (Dec 11′), with all the available amenities and facilities surrounding the suburb, it makes sense to live here.
Approximate annual growth forEast Cannington over the past 10 years to 2012 has been 9.5% per annum.