Meet the most desirable region of WA
It’s a region of gorgeous beaches, picturesque vineyards, lush green forests, gourmet food… and soaring house prices.
The southwest corner of Western Australia is now one of the country’s top lifestyle destinations, with high demand for accommodation in many places, low supply and, as a result, record breaking prices. historical.
“I put a house up for sale recently and then had to put on my helmet and mouthguard to prepare for the crowd of people saying they wanted it,” Ian Carter of Carters Real Estate told the Denmark.
“I was inundated with inquiries from all over Australia and overseas.
“It’s been crazy here. I have been here for 34 years and have never seen a market like this. COVID-19 has changed the world, but it’s definitely changing it here. It’s a beautiful and secluded place, only half an hour from Albany, and suddenly everyone wants to live here.
You can understand why.
Absolutely nothing is rotten in this state of Denmark, located on the Rainbow Coast, 400 kilometers southeast of Perth, resplendent with beaches, green hills and a mild climate.
Here, prices rose 21% in the last quarter alone, according to a recent report from Domain.
But it has fierce competition from most other cities in the 23,000 square kilometer southwest area of just 170,000 people.
There is, for example, the Yallingup jewel, a four-hour drive west, still on the coast, but surrounded by the Leeuwin-Naturaliste National Park, a Mecca for the rich, surfers and fishermen.
Its median price, according to the Real Estate Institute of Western Australia (REIWA), has jumped 13.7% in the quarter and 53.3% since June 2020.
Then there’s Eagle Bay, another lighthouse for the rich and famous, where prices rose 14 percent during the year, Dardanup where prices jumped 10.8 percent in the quarter, and Augusta-Margaret River, up 8.2 percent in the same three months.
In Dunsborough, REIWA vice president Joe White said prices had risen 20% in the past year and a half.
“When COVID hit we had a six week lockdown in March-April 2020 and then as soon as we got out of it KABOOM!” he said.
“And it hasn’t stopped since.”
“We were coming off a pretty low base, the longest real estate crisis in WA history dating back to the GFC in 2008, but prices are now skyrocketing. When a pandemic hits, people want to go to places with fewer people, and now they can work from home anywhere, they find out about us all. “
14 North Street, Dunsborough WA 6281
This whole area, surrounded by ocean and reserves, is truly the new Byron Bay, estimates Rob Farris of JMW Real Estate, who is selling a four-bedroom house at 14 North Street, Dunsborough, for $ 2.9 million.
“People pay extra and the prices get absolutely stupid. “
Many large companies have also moved their headquarters to the South West, and vacation homes that were only seasonally occupied have people living there five days a week, with two days spent in the office in Perth.
In addition, 40,000 mining workers who previously flew in have settled in the state, so they could work during state border closures, many coming from the southwest.
“With no overseas vacation, we’ve had so many people visiting and discovering this area for the first time as well,” said Shane Greaves, Herron Todd White reviewers.
“Then we saw a big increase in the number of people coming for a tree or sea change.”
“We’ve had a lot of buyers buying from the east coast, on sight invisible and paying prices that seem reasonable compared to Sydney prices, but are very high here. We had sales to Yallingup for $ 4.3 million and $ 4.5 million, and to Eagle Bay for $ 6.5 million. There is a lot of money there.
149 Terry Drive, Margaret River WA 6285
In Margaret River, an area dominated by an older housing stock, with only a few notable high-end properties, another house is being sold for $ 4 million.
“He’s an absolute ripper, though,” Mack Hall real estate agent Mitch Thorson said of the house at 149 Terry Drive.
“The first owner of this one now lives in Monaco.
Even residents who were in the area are now returning.
A five-bedroom house at 49 Mentelle Road, Burnside, sold for offers worth $ 2.2-2.5 million, has among its potential buyers a man who last owned it eight years ago. years.
“He’s now trying to raise the money to buy it back,” Space Real Estate agent Paul Manners said.
“The area is so popular now, and so many people want to live here. “
49 Mentelle Road, Burnside WA 6285