The coastal suburbs that are shining in the Perth property marketNovember 1 2016
Two metropolitan coastal suburbs are bucking the Perth property market trend, posting strong quarterly growth, according to Domain Group’s House Price Report: September Quarter 2016.
The two very different suburbs of Lakelands and Doubleview have topped the list of Domain’s latest report, as the shining lights of the current Perth property market.
Lack of confidence in the WA economy was a key factor in the depressed property market, according to Peter Peard from Peard & Associates.
Mr Peard said there were some there were some positives in the current Perth market particularly in terms of value and investment opportunities.
“People in Melbourne and Sydney should be coming to Perth to buy investment properties at the moment”, Mr Peard said.
Mandurah’s best kept secret shines through
Lakelands has shone in the south as Mandurah’s sprawling new development. Located 65 kms from Perth CBD, Lakelands was the only suburb to register a median price increase in the September quarter.
Perth North’s shining star
The older suburb of Doubleview in Perth’s north-west, also showed a positive increase in prices in the last six months. First developed in 1910, Doubleview is known for it’s coastal and Darling Scarp views and close proximity to Perth’s CBD.