Peppermint Grove Beach tops WA’s median house price growth
A TINY South-West beach town with a population of less than 400 has been revealed as the state’s top performing suburb. PROPERTY REPORT
A TINY South-West beach town with a population of less than 400 has been revealed as the state’s top performing suburb.
Peppermint Grove Beach, 200km south of Perth, had the highest growth in median price last year with 17 sales causing the median price to jump by 63.8 per cent from $418,125 to $685,000.
Local agents said the “undiscovered” town’s median price had been pushed up by a number of luxury end sales.
The town, which doesn’t have broadband or its own shop, is popular among holiday home makers and a growing number of younger families.
Acton South West agent Ty Criddle said the area represented some of the “cheapest coast land” in WA.
“For a long while we had a little bit of a lull where very few homes in the $600,000-$1 million bracket were selling, but now it seems to be turning over again and Peppermint Grove Beach is getting back on the radar,” he said.
“Compared to other beach side South West locations like Dunsborough, it’s certainly a lot more affordable and a lot of buyers like the fact it’s only a couple of hours from Perth.”
Stockier Preston agent Larisa Tomuli said she had noticed the area becoming more popular among young people snapping up the opportunity to be able build near the beach for an affordable price.
“There’s now a good mix of holiday homes and permanents who live here ‘full time’ and commute to work in Bunbury, Busselton, Capel, Collie,” she said.
“A lot more younger families or young couples are seeing a level of the market where they can enter into and build a new home, by the beach.”
Southern Districts Estate Agency consultant Jim Stephen said Peppermint Grove Beach attracted a similar demographic to Dunsborough, for a lower price tag.
“It’s still pretty undiscovered, so you can get a prestigious ocean front home between the $950,000 to $1.1 million mark,” he said.
“It has a tranquil, private atmosphere that sets it apart from other South West suburbs.”
Neighbouring South West location Bunbury also made its mark on the property report list, topping the state for number of homes sold with 732 sales last year.
YOUNG COUPLE GRAB BEACH DREAM
THERE aren’t too many homeowners in their twenties whose first purchase includes a beach view.
But for twenty-seven year-old Daniel Simpson and his fiance Emma Dale-Thompson buying in Peppermint Grove Beach has meant they’ve been able get just that.
The young pair bought a 1000sq m beach side block for $365,000 last year, after renting in the suburb for two years.
Mr Simpson, a cabinet maker, said buying in little-known suburb had given him more for his money than he could have ever dreamt for in the Perth metro.
“We’re probably one of the youngest couples in town, but we’ve noticed more people our age starting to move in. It’s the kind of place you get to know your neighbours,” he said.
The pair are just starting the process of building a 5 bedroom, 3 bathroom family home and said they were excited for the suburb’s future.
“We originally lived in Heathridge in Joondalup. But I love the outdoors lifestyle. There’s swimming, fishing and the wineries nearby. I can see it might be a little slow for some people, but I never feel like we’re missing out,” he said.
Bunbury doctor Adhnan Afridi bought a two-storey Peppermint Grove Beach side home for $1.1 million in October.
He said buying in Peppermint Grove Beach had also allowed his family to get more for their buck.
“If we were looking at the same house in Perth we’d probably be looking at $5.1 million,” Mr Afridi said.
“It’s a beautiful location and with the white sands and small community it feels exclusive.”