Sea­side value in SW ar­eas

Pilbara News - - Property - Hay­den Groves

West­ern Aus­tralia’s beloved South West re­gion holds plenty of ap­peal, both for lo­cals and vis­i­tors.

From the ex­quis­ite nat­u­ral won­ders to the world-renowned winer­ies and coastal ad­ja­cent lo­cales, it is no won­der so many peo­ple liv­ing in the metropoli­tan area jump in a car and drive to the re­gion when­ever a long week­end beck­ons.

The South West holds more ap­peal than just be­ing a tourist lo­ca­tion though, with new data re­veal­ing the re­gion’s 10 most af­ford­able sub­urbs for the year to April 2017.

Col­lie topped the list, with a me­dian house price of $205,000 for the year to April, fol­lowed by Withers ($237,500) and Man­jimup ($248,750). To put th­ese house prices into some con­text, the Perth metropoli­tan me­dian house price came in at $520,000 for the year to April 2017, some $315,000 more ex­pen­sive than the cur­rent me­dian house price in Col­lie.

Even look­ing at the 10th sub­urb on the list, Bridgetown, its me­dian house price of $335,000 is still $185,000 less than the me­dian house price in Perth.

With hous­ing af­ford­abil­ity a hot but­ton is­sue across the coun­try, and in­deed in Perth (de­spite con­di­tions be­ing more favourable for buy­ers at present), the South West of­fers up a gen­uine al­ter­na­tive for buy­ers strug­gling to en­ter the WA prop­erty mar­ket, with af­ford­able pric­ing op­tions pro­vid­ing fan­tas­tic op­por­tu­ni­ties in an en­vi­able lo­ca­tion.

For many West­ern Aus­tralians, liv­ing close to the beach is ex­tremely de­sir­able. Of the 10 sub­urbs that made the list, Withers (sec­ond) and Usher (ranked sixth with a me­dian house price of $300,000) are both lo­cated on the coast and are con­sid­ered hid­den gems by lo­cals in the area.

Pur­chas­ing a beach­side prop­erty for $300,000 or less is sim­ply un­heard of in the Perth metropoli­tan area. If you love the ocean but are un­able to af­ford the hefty price tags that of­ten go hand-in-hand with coastal liv­ing in the city, then th­ese sub­urbs are worth con­sid­er­ing.

Par­tic­u­larly as they are so close to the Bun­bury CBD, which is just a two-hour drive from Perth and has un­der­gone a re­ju­ve­na­tion in re­cent times.

Im­proved in­fra­struc­ture such as sport­ing fa­cil­i­ties, in­fill re­de­vel­op­ment and an ar­ray of restau­rants are rapidly chang­ing the per­cep­tion of this re­gional town.

If you are want­ing to get your foot in the WA prop­erty mar­ket, but are strug­gling to af­ford the house prices in the Perth metropoli­tan area, it might be worth con­sid­er­ing a life­style change to the South West.

On the other hand, if you have no in­ten­tions of mov­ing away from the metropoli­tan area, but would like a hol­i­day home to es­cape to or per­haps to rent out to tourists vis­it­ing the area, there are plenty of op­tions on the ta­ble.

If you are weigh­ing up whether the South West is the right move for you, I en­cour­age you to speak with a lo­cal REIWA agent about your op­tions. Hay­den Groves is the pres­i­dent of the Real Es­tate In­sti­tute of WA.

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