In the second part of this blog, we touch on what the market players say about some of the suburbs listed in the Top 10 Perth Buyers’ Market List. These include top personnel from Properties Invest, Perth Property Partner, Harcourts Vogue, LJ Hooker and Midland Real Estate Plus. As we say, there are some upsides to the softening of the market!
Click on the icons in the map above to learn the locations of these areas and their proximity to Perth’s Top 3 universities.
PERTH’S TOP 10 BUYERS’ MARKET LIST
- Beeliar
- Southern River
- Midland
- Piara Waters
- Harrisdale
- Burswood
- Jane Brook
- East Perth
- Spearwood
- Coogee
Source: Realestate.com.au
The top markets for negotiating is calculated using supply and demand rations, average discounting and days on the market.
Beeliar
A good opportunity for owner-occupiers. Fantastic location as it is close to Fremantle, Murdoch University, Coogee Beach etc, but further out from Perth city area. Softening of prices noticeable in homes in the A$500,000 and under category but there has been a slight pick-up in recent weeks.
Southern River & Harrisdale
Good opportunity for owner-occupiers. An extension of Canning Vale, the most Malaysian-populated suburb in Perth. The market in Southern River has softened and may possibly continue for some time. Harrisdale is a decent area, close to an older established area that is being built out.
Piara Waters
An extension of Canning Vale, the most Malaysian-populated suburb in Perth. Good location because closer to the freeway and the facilities associated with the growth in the Southern Corridor of Perth.
Midland
The suburb has shown strong growth over the years because a lot of money has been spent on it. It is the link between the farmers and the city; farmers prefer to stop at Midland rather than go all the way into Perth as Midland has everything they need. The state government is also redeveloping the area with new hospitals and schools and moving some of the public service operations out there, so there is more growth to come.
Coogee
The state government is injecting a lot of money into the area. Land in Coogee Marina that was bought for A$3.2 million at the top of the market can be bought today for A$1.5 million.
Spearwood
Spearwood presents the best investor opportunities, even though it is ranked at no. 10 on the list. Historically, this suburb has done very well in long-term capital growth. It also has a number of old ‘60s and ‘70s style houses on development sites.
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