Weak market conditions are proving a boon for cashed-up WA retirees, with the prices of many homes being slashed across the State.
Like many other parts of Australia, WA is experiencing a real estate downturn, which is impacting both traditional and seniors housing.
The latest Australian Bureau of Statistics figures show that Perth’s average property prices fell by 2.5 per cent in the year to December 2018, with the city recording a one per cent fall in the quarter from October to December 2018 alone.
However, according to some local real estate figures, the weak conditions are more acute in WA’s regional areas, particularly for retirement living.
Given this, Downsizing.com.au has undertaken a scan of potential bargains on offer.
For instance, 64km south of Perth at Arcadia Waters Mandurah, a freestanding brick villa with three bedrooms, two toilets, a double garage, air-conditioning and grid-return solar panels has been reduced to $349,000 (see photo above).
Separately, a fully-refurbished, north-facing, three-bedroom home with deluxe, modern appliances has been reduced to $370,000.
Meanwhile, Seniors Own Real Estate is advertising that a two-bedroom villa at Belswan Lifestyle Village at Pinjarra, 86km south of the capital, has had its “price slashed” to $245,000. The villa comes with an open plan living space, remote-operated garage and plenty of storage throughout.
The gated over-55s community offers a relaxed, country lifestyle, while on-site facilities include a swimming pool, sauna, sports bar, cafe, stage, cinema, dining room and workshop.
Even further south Bethanie Esprit in Eaton, near Bunbury, is advertising a $30,000 discount on its two-bedroom villas. The village has on-site facilities including an elegant indoor swimming pool, clubhouse, meals and personal care.
The nearby options for swimming, diving, crabbing and fishing are plentiful, while the coastal hinterlands and vineyards are all within easy reach.
However, the discounts are not limited to regional areas.
If escaping the traffic but keeping within reach of loved ones is important, Lendlease's over-55s Timberside Villas community in the northern Perth suburb of Woodvale could be the answer.
A refurbished, strata-titled two-bedroom villa has been reduced to $389,000, and includes an open plan living space, roller shutters, a private, rear courtyard and separate laundry access.
The village is also currently offering reduced-price apartments close to everything on offer at the close-knit community.
Across the river at Arcadia Waters Maddington, a reduced investment of $359,000 will secure a spacious, refurbished, two-bedroom villa in resort-style surroundings, within easy reach of the city but complete with a relaxing country ambience.
Close to Maddington Central Shopping Centre and medical facilities, the village offers the perfect combination of proximity to amenities and privacy.
You can search for all WA properties on offer right here.
By Paul McBride