The month in review: South West WA
By Herron Todd White
There are a number of localities throughout the South West that are currently in the process of transforming from a typically tired suburb into fresh and vibrant communities.
One such region is along the costal strip located on the northern side of Bussell Highway traversing the suburbs of Busselton, West Busselton, Broadwater and Abbey. This costal strip is approximately 500 metres in diameter and runs for approximately ten kilometres along the Geographe Bay. The portion of land is fully established and consists of homes generally built from the 1950s to the 1980s supported by average infrastructure at best. The strip is characterised by strong underlying land values decreasing the likelihood of over capitalising.
The City of Busselton continues to grow at a strong rate and this well located section of land will continue to grow in desirability and affluence as the urban sprawl continues to be pushed further away from the coast line.
This consequently will result in good capital growth over the medium to long term as an increase in population will lead to stronger demand of a product that has limited scope to increase in supply. As such, this well positioned and limited coastal strip is attracting the wealthier purchasers who are either demolishing the older homes to build new ones or converting the dated dwellings into modern architecturally designed residences. These localities are currently in the process of leaving the tired traditional suburb behind and turning into attractive, fresh communities.
The canals located in the suburb of Geographe is another section of the South West that is currently in the process of leaving its troubled past behind. This suburb has been plagued with problems over the years, in particular the poor design of the canal groin leading into the ocean that was causing the build up of seaweed that was in effect rotting and creating bad odours. Consequently, this well located suburb with attractive features such as the canals, marina, restaurants and proximity to the beach was struggling to find any traction in the market because of the seaweed issue. This issue was rectified throughout the course of 2014 as the groin was altered resolving the odour problem. As such, the suburb is now beginning to thrive as the subdivision is starting to fill out with high end luxury builds.
In addition, the City of Busselton has undertaken a foreshore redevelopment program that involves reinventing the shore line in the centre of Busselton with new restaurants, breweries, parklands and water parks that ultimately will have a positive effect on the two localities discussed.
In conclusion it is the well located suburbs throughout the South West that are undergoing metamorphoses from tired communities into thriving ones.