South West WA March 2018

The month in review: South West WA

By Herron Todd White
March 2018

The middle ring in the south-west could be described as the locality north of Bussell Highway in the Busselton region which includes the suburbs of West Busselton, Broadwater and Abbey. A similar locality in the Bunbury region would be South Bunbury. The reason they are considered desirable is that they are close to the ocean as well as being within a reasonable distance of the CBD. Primary and high schools are plentiful in these localities and there are good sized blocks with a mix of older style homes, many of which have been renovated, and newer homes. Supply however is limited.

These areas are generally considered to be attractive for home owners particularly those wishing to upgrade. The demographic is skewed towards young families and families with high school age kids.

The price points range from $600,000 to $900,000 in the Busselton area and $450,000 to $750,000 in South Bunbury. The houses are general 1990s homes which have been upgraded on approximately 800 square metre lots in the Busselton area and a mix of older style Californian bungalows and more modern homes in South Bunbury. Higher prices would be expected for properties with ocean views.

Prices in these areas were steady in 2017 however there was an increase in the number of sales in the Busselton area in the later part of the year. These areas are expected to firm in 2018 however due to supply constraints they are likely to be the first to see any lift in value.

Long term prospects for these localities are expected to be good due to their limited supply and accessibility to both the beach and CBD. There will continue to be strong demand for these localities going forward.

Share

DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.