Naval work to boost prop­erty mar­ket

Southern Telegraph - - News - David Sal­vaire

Rock­ing­ham’s hous­ing mar­ket could be boosted by the Com­mon­wealth’s Naval Ship­build­ing Plan ac­cord­ing to Real Es­tate In­sti­tute of WA pres­i­dent Hay­den Groves.

De­spite the State Gov­ern­ment claim­ing WA had been “dud­ded” over the deal, which would see sus­tain­ment work on frigates and sub­marines un­der­taken at Hen­der­son, Mr Groves said it was enough to spark an in­crease in hous­ing ac­tiv­ity.

“I think Rock­ing­ham has reached the bot­tom and we’ll prob­a­bly start to see some im­prove­ments in that mar­ket, mainly on the back of a fair bit of dis­cus­sion around the de­fence in­dus­try plans,” he said.

“That will bring a lot more in­dus­try to the Rock­ing­ham re­gion and I think the March quar­ter me­dian house price ($395,000) is re­ally good buy­ing.

“I think Rock­ing­ham will be a re­gion within the metropoli­tan area to watch in the next five years.”

Rock­ing­ham’s me­dian house price dropped be­tween De­cem­ber and March by $5000 and was still well be­low the $418,625 fig­ure of March 2016.

More than 440 Rock­ing­ham prop­er­ties changed hands through the March 2017 quar­ter, while 526 prop­er­ties were sold in the same pe­riod last year.

Kwinana house prices con­tin­ued to fall be­tween De­cem­ber and March from $369,000.

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