Top Five Suburbs...
1. BUTLER
A major growth area where both land and newly new established homes are still affordable for the average family. Property values will be boosted following the extension of the Joondalup railway line – especially properties which are within walking distance to the planned new railway station at Butler.
2. BELDON
Another affordable coastal suburb where you can still buy a home for around $450,000. Over the coming years, this suburb should benefit from new infrastructure in the area such as the major new investment at the Ocean Reef marina.
3. SCARBOROUGH
An undervalued suburb which neighbours the prime coastal suburb of city beach. Major upgrades to the Scarborough beach front and well are re-zoning will give property values a major boost over the coming year.
4. NORTHBRIDGE / WEST PERTH
The inner city area of Perth will benefit from the commencement of the multi billion dollar Northbridge Link project which will totally transform the inner city over the coming decade.
5. SAFETY BAY
A prime coastal suburb in the Rockingham area where you can still buy a home close to the beach for under $400,000. This suburb will benefit from new more inland housing developments which will make coastal land more valuable in Rockingham over the coming years.
Prediction for the median house price:
Concerns over the Super tax on the mining industry as well as recent interest rises have led to an significant increase in the number of properties listed for sale in Perth. It will take time before stock levels fall to such as level as sellers are in a position to seek increases in selling prices. The Peard Real Estate Group is predicting a steady real estate market over the coming year with the median house price staying at around $500,000.