SOUTHERN SUBURBS A TOP SELECTION IN 2006

April 20th 2006

Property Wizards buyer's agent Liz Sterzel predicts growth levels being enjoyed by many of Perth's southern suburbs will continue to surge into the second half of the year.

She said the Rockingham to Mandurah southern coastal strip was still delivering affordable coastal living opportunities and so would remain attractive to homebuyers and investors.

"Suburbs in this area, including Waikiki, Silver Sands, Safety Bay, Shoalwater and Halls Head, are still gaining momentum from the construction of the Perth to Mandurah rail line," she said.

"Once it's finished, travel time from Rockingham to Perth will be just 33 minutes, and 48 minutes from Mandurah."

Ms Sterzel said Mandurah was still a stand-out investment option.

"With its population tipped to double in the next decade and its ongoing transition from a sleepy village to a luxurious, upmarket lifestyle choice, Mandurah is attracting interest from all types of buyers," she said.

"Developments along the waterfront and the marina will entice cashed up retirees and baby boomers to the area, but the overall affordability of the area will see much of the interest come from families and investors.

"These groups will be attracted by the new rail line and will push up land prices in already developed areas central to the main township."

Investors considering the Rockingham to Mandurah strip should focus their attention on older homes situated on decent sized blocks, according to Ms Sterzel.

"Decide on your budget and then look for these types of properties that are as close to the ocean as can be afforded," she said.

"Blocks with development potential will usually also achieve better growth."

Ms Sterzel said Rockingham still offered some well-priced investments, including homes for under $300,000 in the eastern parts of the suburb which were a little further from the coast.

"These are still great buying and property prices will be driven even higher by numerous waterfront developments and government redevelopments including residential, commercial and recreation facilities," she said.

"As well, growth will continue once the rail line is completed and the lifestyle benefits of this are delivered."

Kwinana

Ms Sterzel said suburbs in the Kwinana area, including Calista, Medina and Parmelia would also continue to do well.

"These suburbs have recorded very good growth in recent years and they still have a way to go, and with many homes priced in the mid $200,000's they are ideal for investors," she said.

"These are among the last few areas in Perth where homes can still be bought for that sort of money - and they are within five kilometres from the coast and just 35 kilometres from the city.

"There are also good signs for the future with two new railway stations for Kwinana, fresh land releases and redevelopments of older properties made possible by zoning changes."

Coogee and surrounds

Coogee, Hamilton Hill and Spearwood would also see sustained growth levels, said Ms Sterzel.

"The planned marina in Port Coogee is drawing in people wanting the lifestyle benefits it will offer," she said.

"The million dollar South Beach development in nearby South Fremantle, Hamilton Hill's government-sponsored New Living upgrade and the proximity of the areas to the Fremantle cafe strip are also luring in buyers."

REIWA figures revealed growth in Coogee in 2005 was 16.5 per cent, Spearwood experienced 12.3 per cent growth and Hamilton Hill enjoyed a 10 per cent rise.

Ms Sterzel said Hamilton Hill and Spearwood in particular were giving buyers incredible value for money.

"With median prices almost half of that seen in Coogee and South Fremantle, but boasting many of the same lifestyle attractions, these suburbs have wonderful growth potential," she said.

"Selecting older-style homes on good sized blocks is the best option as they hold the promise of superior growth, but will very soon become too expensive for most buyers.

"Properties set to gain subdivision 'rights' at a future date will also likely be investment winners."

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