Southwest WA Property Market Update September 2019
Herron Todd White, Property and Finance Reporter
First published 12 September 2019, 01:23 PM
Last year discussing this same topic, we talked about two localities that are often brought up with regard to potential capital growth, these being the coastal strip in Busselton and Dunsborough.
While these areas didn’t perhaps do as well as expected over the past 12 months, they are still considered to have outperformed most other areas in the region. These localities remain on the radar if you were spending a lazy $500,000, but we thought we might look at some other areas that also have potential.
Values in and around Bunbury have taken a hit over the past few years so when the market recovers (which it will at some stage) these are some of the areas that we consider would perform better on the rebound.
Bunbury Property Updates
Residential properties in close proximity to the CBD in Bunbury itself are worth considering. With the increasing number of quality restaurants in the CBD, the completion of the Dolphin Centre, a proposed water park, the proposed boat harbour and rejuvenation of the CBD among many other projects, it is becoming increasingly more desirable to live close to the city centre. A lazy $500,000 will get you a semi modern home on a 400 to 500 square metre lot, a vacant lot with ocean views or a modern three-bedroom, two-bathroom townhouse, all within a short walking distance of the CBD.
South Bunbury Property Updates
Still in close proximity to the CBD as well as being close to Back Beach, South Bunbury offers many alternatives for $500,000: older homes in close proximity to the beach (some with ocean glimpses), older homes on larger lots with development potential, modern homes on small blocks and semi-modern or renovated character homes on medium-sized blocks. This locality is ripe for gentrification and when the market turns, demand for properties in this locality are likely to outstrip most other localities in Bunbury.
East Bunbury Property Updates
Similar to South Bunbury, this locality offers good value for older homes on development sites which will become much more attractive when the market turns.
Speak with a Bunbury Mortgage Broker today.
