South of Perth, the Mandurah property market is enjoying a post-election jump in activity with downsizers leading the way, according to Peter Vetten, Principal of Raine & Horne Mandurah.
“Compared to last year, we have seen a 4-fold increase in the numbers of groups at open for inspections,” Peter said. “There’s no doubt since the election, numbers at open homes have spiked. We expect this will translate to strong sales in the traditional spring selling market.”
Mandurah’s affordability is attracting the eye of savvy downsizers. Peter elaborates, “It’s possible to secure a modern 3-bedroom, 2-bathroom home for around $300,000 in Mandurah, and we’re expecting more Perth downsizers to shift here in the medium term.”
For example, Peter anticipates that properties such as a wonderful four-bedroom house at 4 Spring Boulevard, Dawesville could appeal to Perth retirees. “Nestled within the picturesque Timbers Edge Resort this property is close to the estuary waters, shopping and transport.”
Also, the Timbers Edge Resort is ideal for the visiting grand children and family as it has other fantastic facilities. These include walking trails, a 25-metre indoor heated pool, heated spa and sauna, outdoor resort style pool, walking trails as well as an art and craft building. The resort also has a superb gymnasium, plus a recreation BBQ area in the main facilities building. “We will see more developments like this in the future with shared facilities in Mandurah that will appeal to downsizers,” Peter commented. “It provides the same facilities as a retirement village without the exit fees often associated with these facilities.”
Other local amenities catching the eyes of downsizers is the Mandurah Forum recently revamped for $350 million and a new $35 million shopping centre at Halls Head.
A brand new six-story residential development in Bunbury has attracted expressions of interest from buyers for every apartment, said Alec Marra, Managing Director, Raine & Horne Bunbury. “While this doesn’t mean every apartment has sold, it’s a sign that there is plenty of confidence in the Bunbury market.”
Several infrastructure projects are also fuelling consumer confidence, including the $852 million Bunbury Outer Ring Road. This is a 27-kilometre section of highway connecting Forrest Highway to Bussell Highway consisting of three parts – northern, central and southern.
“There will also be improvements to the roads between Bunbury and Busselton that will open up locals to a faster trip to the wineries of the Margaret River. This will involve a road widening from single to dual carriageway,” said Alec. “The recently revamped Dolphin Discovery Centre is also attracting more tourism dollars to Bunbury.”
Since the election, Alex said that online enquiries and numbers at open homes have picked up since the election. “While some of these enquiries haven’t created sales activity yet, our sales fees have improved every month since April,” Alec said. “Moreover, those vendors who price their homes sensibly and are investing some money in marketing and presentation are finding buyers.
“In summary, the Bunbury property market is set for a strong spring market this year.”