With the State’s property market once again bursting into life, some Western Australian locations are now among the most popular in Australia when it comes to retirement living sales activity.
Over the last month, four WA locations were among the top 30 most viewed locations on Downsizing.com.au.
This compares with just two WA locations in the top 30 list for the same period last year.
These four locations are Gosnells (2nd out of 30), Mandurah (6th out of 30), Menora (22nd out of 30), and Willagee (24th out of 30).
The trend has largely been driven by a long-awaited lift in WA detached house values. This is allowing empty nesters - who typically occupy houses - to achieve a quick sale and a good price, and be able to move into downsizer-friendly property.
According to CoreLogic, Perth house prices increased by 1.8% in March, 5.1% for the quarter, and 6.3% over the past 12 months. The median Perth house price now sits at $527,833.
By comparison, units rose by a more subdued 1.7% in March, 3.8% for the quarter, and 4% in the last year, to a median price of $385,265.
Along with Perth, there has also been significant growth in house prices in regional WA areas. The CoreLogic report shows house prices in regional WA have increased by 1.5% in March and 4.5% over the last quarter, bucking against an overall drop of 0.3% for the year.
Ben Myers, Executive Director of the Retirement Living Council, says the increased house prices are good news for WA downsizers.
"Some housing markets like Perth haven’t moved for a long time, there is now a good catch-up going on,” Mr Myers told Downsizing.com.au.
“So WA residents who over the last seven to eight years have worried about the value of their home, are now able to say, ‘hold on, we are once again able to look at retirement living options’."
We’ve decided to take a look at the top four WA locations and why they’re proving popular with Australians searching for retirement living properties.
There’s good reason why this city located 17km southeast of Perth’s CBD has moved into position two of Downsizing’s most searched suburbs.
The diverse and growing population has access to a range of facilities and services, making this an easy choice for retirement living. For example, Gosnells has four libraries, a dedicated seniors centre, museums, a new aquatic and leisure centre, and a newly revitalised town square.
It also has great transport links and easy access to Perth airport, a program of festivals and events, and more than 300 parks and reserves, including dog exercise areas in each suburb.
Find out more – search here for properties in Gosnells.
As Western Australia’s largest regional city, Mandurah is renowned for its stunning beaches and spectacular estuary double the size of Sydney Harbour, lending itself beautifully to downsizers seeking a relaxed coastal lifestyle with abundant outdoor activities. Its reputation for boating and fishing have drawn many retirees to the area.
It is well located about an hour south of Perth, and also features indoor attractions such as libraries, community centres, an aquatic and leisure centre, and sites of historical and cultural significance.
Find out more – search for retirement living properties in Mandurah here.
Located only about five kilometres north of the CBD, Perth suburb Menora was named in honour of an old theatre located within its borders. It is home to the exclusive Alexander Park Tennis Club, which hosts events including the Western Australian Tennis Championships.
Menora has a large Jewish community and several kosher facilities, including kosher cafes. It is bordered by two large reserves, one of which houses the Mount Lawley Golf Course. A large aquatic/leisure centre and a bowls club are also just up the road.
Find out more – search here for properties in Menora.
Another Perth suburb, Willagee is located 15 kilometres south-southwest of the CBD. It has ten parks and reserves within its boundaries, along with facilities including a library, community centre, and a couple of shopping hubs.
Locals say they appreciate Willagee’s proximity to the Swan River and Fremantle, along with its friendly community vibe, lush gardens and established trees.
Find out more – search here for Willagee properties.
Comment from our CEO
Downsizing.com.au CEO Amanda Graham said: “CoreLogic’s latest property price data is great news for Western Australians who’ve been holding out to downsize.
“Over 50s in Perth and regional parts of WA are finally able to sell their family homes for good prices, get rid of their mortgages, and be in a position to purchase a retirement property to suit their budget and lifestyle goals.”
Find out more