NORTHERN POCKETS HOUSE PROVEN WINNERS

May 23, 2005

Property Wizards managing director Liz Sterzel says homebuyers and investors are being drawn to real estate in Perth's north by a number of prime suburbs offering proven as well as further potential growth.

Ms Sterzel said the northern coastal strip in particular was enticing many buyers, with areas like Trigg, Kallaroo and Hillarys leading the way.

"We know that people want to live near the beach, close to restaurants, cafes, shopping complexes and other lifestyle features like walking and cycle ways," she said.

"Because they offer all those attractions and more, suburbs like Trigg, Kallaroo and Hillarys really are some of the stars of the north, with each of them experiencing superior growth.

"And because those lifestyle features are there to stay, they will continue to deliver great growth."

REIWA figures reveal that, over the past five years, Trigg recorded an annual average growth increase of 13.4%, Kallaroo 14.9% and Hillarys 12.6%.

Ms Sterzel said the oceanside suburbs were definitely the pick of the bunch for prime real estate in the north, but great buys could still be made for people content to live a suburb back from the sea.

"Our research shows that, along the northern coastal strip, suburbs one back from the ocean have achieved virtually the same growth over five years as their coastal neighbours," she said.

"And because properties in those areas can be bought, on average, for around 70% of the price of their more expensive neighbours, they are a fabulous option.

"We're talking about suburbs like Heathridge, Padbury and Craigie which, with lower median prices than their neighbours Ocean Reef, Hillarys and Kallaroo, are prime opportunity areas in the north.

"A clever homebuyer or investor with a little less cash to spend would be silly not to have a close look at those suburbs," she said.

Ms Sterzel said the research showed that Heathridge had recorded a 14.4% average annual growth increase over five years, while Ocean Reef was at 12.4%. Karrinyup was another good example with average annual growth of 13.5% while Trigg was 13.4%. -continues- Carine and Marmion was a similar story, with Carine's average five year growth rate at 12.2% and Marmion's at 10.7%.

"Oceanside suburbs are the prime movers of the north and always will be, but the bonus is we now know that the right property in a suburb next door is a brilliant back up plan," said Ms Sterzel.

She said the northern suburbs were growing in popularity in part due to improved access.

"The freeway extension to Joondalup has accelerated interest to the north of the city and with new train station additions, like Greenwood, commuting is getting easier for workers and families," she said.

"Ongoing developments to the north from transport facilities to shopping centres and even new marinas means the area will continue to be a magnet for young families, retirees and investors alike."

For more information, please contact
Mr Trevor Dunkley
Director
Property Wizards
trevor@propertywizards.com.au
Tel: (08) 9381 7450