Western Australia
Mandurah
Nominated by Kate Hill, Adrian Knowles, Dan White
Over the past year, Mandurah has been one of the country’s best property performers.
For starters, the coastal town south of Perth, with a median house price of $425,000, easily trumps Perth for affordability.
“Mandurah is always identified in the top regional property markets because of jobs, lifestyle, infrastructure spending – it’s just got everything,” Adviseable buyer’s agent Kate Hill said.
Mandurah south of Perth is one of the nation’s top performing property markets. Picture: Getty
As Perth’s property market has gone “berserk” over the past 18 months, those who have been outpriced have flocked to the suburb, one hour away.
“These outlying areas suddenly become very much more desirable, attractive and affordable,” Ms Hill said.
The other driver is population growth, she added, and the rollout of a multimillion dollar Transform Peel project will be a boon for the economy, creating over 30,000 jobs when it’s fully developed by 2050.
Richard Mathlin, licensee at LJ Hooker Mandurah, says interest in Mandurah is being driven by migrants from eastern states and internationally, lured by jobs and lifestyle.
“They see certainly with Mandurah the lifestyle is there for when they work as well as when they play,” he told realestate.com.au.
Investors from the east coast are still active in Mandurah, with some taking interest in new housing developments in areas like Madora Bay and Lakelands, he said.
Several factors suggest Mandurah’s property prices will continue to rise, according to PropTrack’s Anne Flaherty.
These include affordability and proximity to Perth, surrounded by beautiful beaches.
“Perth is actually currently the fastest growing state in Australia for population growth,” Ms Flaherty said.
“In WA in particular, the suburbs with the most price growth are those located along the water and they’re more highly valued, the closer they are to Perth.”
Mandurah’s affordability has been a drawcard, with this modern three bedroom home listed with offers over $499,000.
Perth dwelling prices have grown 16% in the year to February, according to the latest PropTrack Home Price Index, the highest of all capital cities according to PropTrack.
PropTrack forecasts expect Perth to be Australia’s best-performing capital city in 2024, followed by Adelaide, then Brisbane.
