PERTH'S NORTH COAST: BARGAIN BUYS AT TODAY'S PRICES

15th August 2006

While pockets of Perth's prime north coastal strip may seem expensive now, property buyer's agent Trevor Dunkley predicts it won't be long before investors realise today's prices are "dirt cheap".

Mr Dunkley said areas from Scarborough to Two Rocks were littered with opportunities and investors who were fast off the mark could capitalise on growth potential by snapping up bargains today and avoiding tomorrow's higher prices.

"The value of solid properties along the north coast will continue to climb, so investors thinking about buying should do it now," he said.

"Five or ten years after investors buy a winning property, they're always pleased with the price they paid - retrospectively it's a bargain compared with current prices and north coastal properties are set to follow suit."

Mr Dunkley said buyers would come out on top by adopting intelligent strategies and searching for the best growth opportunities that sit just beyond the immediate coastline.

"Suburbs one back from the high-end homes on the coast are sound value for money, and they deliver the same sought-after coastal lifestyle," he said.

"Well-located properties in areas including Heathridge and Beldon can still be snapped up for well under Perth's median house price."

Growth in Heathridge and Beldon has been excellent over the past five years, currently sitting on 16.7% and 16.1% in the 5 years to March 2006, and matching the growth of their coastal neighbours, Ocean Reef and Mullaloo.

For those who could afford the suburbs right on the coast, there were still some excellent buys in Kallaroo and Mullaloo, according to Mr Dunkley.

"These suburbs have median prices below pockets just to the north and south, they both boast the beautiful coastal attractions and are as close as Ocean Reef or Hillarys to the freeway for access to Perth," he said.

"An older house in sound condition on a good size block in these areas is a great strategy to buy and watch the values rise.

"Careful research coupled with good buying decisions along the north coast is going to pay off for investors who buy today - the reward being strong long term growth and in ten years time, they'll be very grateful for their bargain buy."