Coastal suburbs a hit with WA buyers

Coastal suburbs are a hit for buyers in Western Australia, according to the Real Estate Institute of Western Australia (REIWA).

Data showed that nine of the 10 most popular WA suburbs were in the Perth region, and Denmark was the only regional suburb on the list.

Hillarys held the top spot, followed by Denmark, Woodvale, Duncraig, and Canning Vale.

“Overall, it’s quite an eclectic list of suburbs, with a good supply from both north and south of the river and quite varied in terms of population levels. While it’s no surprise a suburb like Canning Vale has trended highly, given it’s one of WA’s biggest suburbs, it’s interesting to note that six of the 10 suburbs have fewer than 10,000 people residing in the area,” REIWA President Damian Collins said.

Denmark in the Great Southern region, which was ranked second, attracted buyers who are looking for a sea-tree change.  Prospective owners appear to be turning to the internet to learn more about Denmark and find out what kind of properties are available in the area, according to Collins.

Six of the 10 top searched suburbs are known for their nearness to WA’s beaches, implying that opting for coastal suburbs is the biggest trend among consumers, in terms of lifestyle.

The northern coastal suburbs, in particular, were popular, with Hillarys, Iluka, Sorrento and Mindarie being highly favoured by WA property seekers.

Eight of the 10 suburbs have median house prices above the Perth median of $510,000.

“This suggests it’s the trade-up sector of the WA market [that is] most actively searching for property right now,” Collins said.

The high levels of interest from prospective buyers in the suburbs should provide local sellers with some confidence despite the still-restrained sales activity across Perth.

“These areas are clearly striking a chord with WA property seekers, so there is excellent opportunity for sellers to take advantage of this interest. My advice is to listen to your real estate agent and price your property in line with market expectations to ensure your home stands out,” Collins said.