Hustle to get the best Busselton homes
It’s proving more difficult to get a slice of the property market in the seaside town calling itself the Noosa of the west with fewer listings set to boost prices.
Busselton is one of the best getaway locations for Perth residents, but those wanting to secure their own home in the beachside region are being starved for choice.
Named the events capital of Western Australia and renowned for its jetty, the housing market has been booming since the state’s long Covid-19 isolation and the expansion of the local airport which has brought more people to the region.
There are currently more than 25 per cent fewer new properties being placed on the market than in August last year as the busier spring selling months approach, which is only helping to boost prices.
New data prepared from PropTrack for The Weekend Australian reveals prices have climbed 12.7 per cent over the past year and have jumped 41.7 per cent since pandemic lows. The lack of choice has created hot demand for freshly listed homes.
Historic homestead Beachgrove has been owned by the same family since it was built in 1910 and is on the market for the first time.
The two-storey property set atop more than 4000 sqm was designed by West Australian architect E.G. Cohen to capture the grandeur of the federation period.
Built of limestone and timber, renovations over the past century have been sympathetic to the home’s history, with each of the five generous-sized bedrooms and living areas possessing high ceilings and hardwood flooring.
Jason Cooper of Stoker Preston is marketing 51 Ford Rd, Geographe, via an expression of interest campaign closing on August 31. The home has a price guide of $2m, which Mr Cooper said was affordable compared to offerings on the east coast.
“Once you step onto the property, you wouldn’t think you were right in the heart of Busselton because you’re pretty much surrounded by beautiful trees and garden,” Mr Cooper said.
“We are becoming the Noosa of Queensland, in Busselton. So, we’ve had a lot of eastern staters buying here because one, it’s generally a lot more affordable; and two, we have tons and tons of employment in WA.”
Mr Cooper said the property had the potential to be a prestigious home, a luxury restaurant or a wedding venue.
The expansion of the local airport to add extra domestic services has only helped to bolster the region, which is now becoming increasingly popular with fly-in, fly-out mining sector workers.
First National Busselton property consultant Dennis Amour said Busselton and southwest WA, just two hours from Perth, were yet to feel the impact of rising rates due to buyers wanting to secure a home in the region.
“My crystal ball is cloudy for the future. However, I am not expecting massive increase in supply, even with the interest-rate rises,“ he said.
“Holiday home accommodation is very profitable. If we can keep hosting high-quality events in the southwest, which sees large numbers of tourists needing accommodation, I don’t think these owners will need to sell.”
A contemporary home on the edge of a canal-front in the heart of town has been on the market since the start of the year.
With six bedrooms and bathrooms alongside ample entertaining space, Mr Amour said dolphins can be spotted splashing from the back deck.
Offers of more than $4m to $4.5m are expected for the mansion fronting 61 Lanyard Boulevard, Geographe.
Regional areas as a whole are rising in price, albeit at a slower pace than capital cities.
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