Disclaimer: The above information is intended to be of a general nature. Please do not rely on any of the content
as being a professional tax or legal opinion and seek your own independent advice.
Agents are often asked to predict future growth potential in the different suburbs and whilst opinions vary, most agree that property located close to the coast, shops, popular schools and transport infrastructure increase in value more rapidly than those that are not.
For in and around Fremantle, these are my top five:
White Gum Valley. Five years ago, it was unimaginable that property would fetch more than $1,000,000 in the Valley whereas nowadays, quality family homes fetch above six figures regularly. Located so close to Fremantle, and with new developments such as Landcorp’s One Planet initiative opposite the Golf Course, the Valley should continue to build on its $700,000 median house price.
South Fremantle. Amongst all Greater Fremantle suburbs, South Freo has outperformed all others over the past 12 months with 3.9 per cent growth. The village atmosphere, shops, cafes, pubs and beachside lifestyle opportunities will continue to underpin strong demand for limited housing stock in the suburb. Much of South Fremantle was “cottage built” and with Heritage constraints, land availability will always be tight. The increase in housing diversity has also increased South Freo’s popularity with an 8.5 per cent improvement in its median unit / apartment price in 2016.
Hilton. Popular as the entry point into the Fremantle lifestyle now with its own “village” atmosphere with community gardens, a gorgeous local school, cafes and gourmet grocers. Its median house price dipped about 4 per cent last year, in-line with the rest of Perth but with a median of $550,000, Hilton remains affordable with opportunities to start your property ownership journey aplenty.
North Fremantle. With small sales samples, it can be difficult to predict the market direction of this “old meets new” river and ocean suburb. Recent upgrades to its Queen Victoria street commercial precinct, has breathed new life into the area. Its median house price has grown around 3 per cent annually over the past decade. Recent subdivisions and housing off McCabe Street are magnificent and will drag up the median over time. A great place to live.
Fremantle. Diverse, eclectic housing options throughout the 6160 postcode remains a key feature of Fremantle’s residential property market. Stretching east to Carrington street along High and Marmion Streets, south to South street and north Canning Highway, the shape and topography of the suburb enables property sales to move between $275,000 to 2,050,000 in a single year. Infill housing projects sensitive to our existing historic built environment are crucial to the city’s economic prosperity with existing projects already pushing up the median apartment price by 5.3 per cent last year.
These top five are by no means an exhaustive list and if thinking of buying in any suburb, be careful to choose a property that meets all your needs.
By Hayden Groves
REIA Deputy President