From Deb’s Desk
Peppermint Grove and Swanbourne were the star performers of the western suburbs in real estate terms over the previous 12 months according to Real Estate Institute of WA figures just released.
The Grove comfortably outstripped its neighbours recording a sold 5.8% average increase compared to a 3% fall across the Perth metropolitan area.
The median price in the exclusive enclave reached $3.65m, again demonstrating that premium property is always a major bulwark against the vagaries of the market.
At Ray White Cottesloe | Mosman Park we were really excited over the course of the year at the potential of Swanbourne in this market and our instincts were validated when the suburb bucked the trend to record a solid 1.5% growth rate.
Cottesloe also hung tough, slipping just 1% to basically mark time and we think this is where the activity will focus in the New Year as all indications are that the market is on an upturn following a strong finish in the last quarter of 2019.
The median price in Cottesloe is now just a tick over $2million and I’m betting that will look cheap by the end of 2020.
It’s worth reminding ourselves of just why these suburbs along with Mosman Park are so highly sought after.
This balmy summer has amply demonstrated the joy of being able to walk or pedal to world class beaches, relax in your own suburb at any one of the great restaurants and watering holes on offer or jump on the train for a night out in Freo just five minutes away by rail.
But here’s a list that I think every prospective Cottesloe/Mosman Park/Swanbourne resident should take into consideration:
Iona Presentation College (Mosman Park) , Iona Presentation Primary School (Mosman Park) , Christ Church Grammar School (Claremont) , St Hilda’s Anglican School for Girls (Mosman Park) , St Thomas’ Primary School (Claremont) , Scotch College (Swanbourne), Presbyterian Ladies College (PLC – Peppermint Grove), Methodist Ladies College (MLC – Claremont).
Go to the school rankings for 2019 published in The West Australian recently and you’ll find all of them in the top 20.
Watching the terrible bushfire events unfold in New South Wales, Victoria and South Australia over the past weeks has been heartbreaking for all of us but also underlines just how fortunate we are, I believe, to live in a State where bushfire mitigation has been at the forefront of community thinking for decades.
And I can’t help think that with the WA economy on the improve that more and more people from the East will look West for a new beginning.
I’m not the only one who believes Perth will get on an upward swing following recent years of low or even negative growth.
ANZ senior economist Felicity Emmett has predicted there would be more uniform price growth across all capital cities as Sydney and Melbourne slow down.
Here’s what she had to say recently about Perth:
“Perth has been weak for a very, very long time … while we’ve seen green shoots in Perth before and they’ve wilted. This time round we think the other economic indicators have turned,” Ms Emmett said.
“Population growth rose sharply and the labour market has really improved. We’ve also seen vacancy rates fall quite dramatically, They’re now down below the national average – that also suggests the environment for growth will be positive.”
I couldn’t agree more and at Ray White Cottesloe we have a number of properties coming on the market in the new year that will excite buyers.
My current favourite is a delightful 3 bedroom first class apartment in Overton Gardens, Cottesloe just a short stroll to the beach and all the great amenities the area has to offer. This place is perfect for a beachside retreat, families, investors, singles or first home buyers who don’t want to trek out to the edges of the city.
It’s a cracker and you can check it out at : https://rwcmp.com.au/properties/residential-for-sale/wa/cottesloe-6011/apartment/2152283
We’re back from the beach and ready for a great 2020…come and join us.
Deborah Brady | 0405 570 903