· WA News
While the word recession is being floated in the real estate market in the eastern states, here in the west all the talk is about recovery, movement and employment possibilities.
So if you're looking to invest in a property or buy a new home this year, here's my top eight picks for Perth suburbs with the best potential for growth.
The major attraction is it's 8km from the Perth CBD with a good supply of post war dwellings available on subdivisible blocks. The average sale price dropped by 4.6 per cent in 2017, leaving the median sale for a house at $591,000. There is still an opportunity to purchase some amazing houses with all the bells and whistles including fantastic city views, for between $1 million and $2 million. This year the Dianella Educational Precinct was developed, providing a positive change and innovative opportunities for students, teachers, parents/carers and the surrounding community.
Luxury homes are still being sold at competitive rates in Applecross. Photo: Supplie
This suburb has it all location wise. Close proximity to great schools, shops, parks and Floreat and City Beach. A great lifestyle suburb with a good smattering of retro homes on large family blocks. A home in this suburb will give you a Western Suburbs address with all the trimmings at an affordable price.
"Hidden Gem" describes this suburb perfectly. The only basic problem is the lack of stock available - the average homeowner in Murdoch lives in their home for 15 years. According to the recent REIWA sales records the highest price sold in the suburb over the last 12 month is $820,000. Many homes are becoming too big for the empty nester owners and will soon be placed on the market. The area has great schools, universities, hospitals, shops and a good rail link.
A very affordable area, and although the suburb has had a good run of land subdivisions the median price for a house is still $491,000, with a recent price drop of 6.5 per cent for the year, making it a suburb to consider. Morley has good connectivity to the airport and the city.
Has an eclectic mixture of weatherboard, fibro and brick dwellings on large blocks of land. With approximately a five minute drive to the central business district of Fremantle and the Indian Ocean, the positive growth from nearby suburbs such as O'Connor and Samson give hope to the rise of Hilton. The Fremantle Council has also agreed to give the Hilton town centre an upgrade which will be a positive influence in the area.
This is another suburb that is low in stock, as many of the residents stay in their homes for a number of years. Prices have increased in Stirling making this the next one to grow. Many might be impressed to drive down Donnington Street and streets surrounding to see the newly built multi-million dollar homes with city views. Balcatta Senior High school is getting upgraded, which will draw young families back to the suburb.
An affluent riverside suburb bound by the Canning Highway and the river and home to the South Perth Yacht Club. The suburb has a strong commercial base as well as a gorgeous residential aspect and the area has a mixture of homes that would cater for buyers at all levels. Although the REIWA statistics indicate an increase of 10.1 per cent in this suburb, if you are in the market for a luxury home with easy access to good schools, then this is a suburb to consider. Homes are still being sold at competitive rates in this suburb.
If you are looking to live near the coast but not pay exorbitant prices, this is it the suburb to consider. This coastal suburb has close proximity to beautiful beaches with a median house price of $715,000. It is home to the famous Mullaloo Surf Life Saving Club, only minutes from Hillarys Boat Harbour and Ocean Reef Boat Harbour. The average home cost $715,000 and the suburb had a drop of .7 per cent in house prices this year.