PERTH'S NEW SOUTH OFFERS TOP CHOICES IN 2006

March , 2006

Perth's 'new south' is brimming with top opportunities for investors, according to property buyer's agent Liz Sterzel of Property Wizards.

She said suburbs south of Perth city with the best potential were Coogee, Spearwood and Hamilton Hill thanks primarily to infrastructure changes.

REIWA figures revealed growth in Coogee last year was 16.5 per cent, Spearwood experienced 12.3 per cent growth and Hamilton Hill enjoyed a 10 per cent rise.

"Coogee, Hamilton Hill and Spearwood are likely to continue to deliver steady superior growth, amidst the buzz of the planned Port Coogee marina which is attracting many people keen to enjoy the lifestyle benefits of such a development," said Ms Sterzel.

"Growth is also being driven by government-sponsored upgrades in Coogee and Hamilton Hill which make the areas increasingly attractive and the proximity of the suburbs to the coast, to the new upmarket South Fremantle development and the fashionable Fremantle café strip."

The development of the Perth to Mandurah railway line, promising shorter travel times, is also contributing to growth levels.

Ms Sterzel said older-style homes on decent size blocks would outperform in these areas - making them ideal for buyers.

"And of course, blocks with the potential to subdivide are the cream of the crop for investors because before long most of these will be priced out of the reach most people," she said.

Ms Sterzel said forward-thinking homebuyers would also do well to look to suburbs including Success and Atwell.

She said while currently still affordable, these suburbs were set to be in great demand once the Cockburn Central train station, being built as part of the Perth to Mandurah rail line, left locals with just a short trip to the city.

"As well, they too offer great shopping, industrial facilities which are creating job opportunities, and ease of access to the proposed Coogee Marina and the Fremantle lifestyle," said Ms Sterzel.

"Due to road works and congestion on the freeway around this area because of the train station's construction many buyers may be being put off.

"But homebuyers with foresight are likely to enjoy some capital growth, as well as lifestyle benefits if they get into the best properties in these areas now as once the rail line is completed, it's likely there'll be strong demand and prices may rise further."

Ms Sterzel said some homes in these areas could still be picked up for around $400,000.

"New housing developments in the suburbs of Success, Atwell and surrounds are making them increasingly attractive for owner-occupiers looking for a quality and convenient life style," she said.

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