Hi,
Looking to buy a property in Perth as primary place of residence but with the longer term view of an investment property. I already own an investment property at the Sunshine Coast in QLD.
We have narrowed it down to North of River (NOR) in Hillarys or South of River (SOR) in Coogee.
NOR has a lot of current demand along the coastal strip including Hillarys. Property only stays on the market for ~ 40 days on average. Hillarys has the advantage of the beautiful beaches, boating marina, close to Whitfords Westfield shopping centre, close to parks and schools, ease of transport to city along the Mitchell freeway. Median house price in Hillarys is in the $600K range.
SOR has less current demand for properties with the days on the market ~ 160 days. Coogee has a lot of future potential with the new Coogee marina development currently underway. Positives are the new marina, nice beaches, close to Fremantle, good schools. Transport to the city is not as easy as from NOR. Median house price in Hillarys is in the $700K range. As I said, current demand seems to be low but I’m thinking that in 10 years time with the Coogee marina completed that this area will be in high demand.
Looking to spend in the $600 – $750K bracket. Property needs to be 4×2 with a backyard for kids/dog. We have found a property in each suburb that meets these requirements and would love to live in either. Still tossing up the old NOR Vs SOR debate in our heads though.
Any thoughts on long term house price growth would be appreciated from any Perth experts out there.
cheers,
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