Alkimos Tipped to Be Property Hot Spot

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NEWS & ANALYSIS Alkimos tipped to be property hot spot LOCATION: Alkimos’s close proximity to the coast is considered to be a big driver for capital growth. Dan Wilkie [email protected] The north-west coastal suburb of Alkimos of an up and coming area.” units during this period,” she said. is Perth’s best prospect for capital growth Rounding out the top five best-perform- “As the Perth economy comes out of an for property investors in 2016, according to ing suburbs from 2015 were Perth, Wandi enormous boom, these dwellings are seeing research group Onthehouse.com.au and South Fremantle, at 9.1 per cent, 9.05 per a correction in value.” The property cent and 8.99 per cent median price growth, sector research respectively. firm reported In all of the top five best-performing sub- a 15.15 per cent . ...judging by the MEDIAN PRICE urbs, it was houses rather than units or median price INCREASE apartments where the price growth was development happening increase in Alki- experienced. mos over 2015, making it the metropolitan in this area it is area’s best performing suburb On the other side of the ledger, Perth’s becoming a popular worst-performing property class in 2015 were Onthehouse.com.au market analyst Eliza units in North Coogee, which experienced a place to buy Owen said Alkimos’s median price growth median price reduction of 12.6 per cent. beat the next best-performing suburb, San Remo near Mandurah, by more than 5 per Houses in Kewdale were down 10.2 per cent, Ms Owen said those economic conditions cent. Attadale by 9.9 per cent, while units in Perth in WA meant any capital price growth in experienced a 9.72 per cent fall in value. the metropolitan area was not likely to be “Activity in Alkimos could reflect afforda- sustainable. bility in the suburb, but judging by the However, Ms Owen said there was nothing development happening in this area it is particularly bad about any of the suburbs on “Generally, most suburbs in Perth should becoming a popular place to buy,” Ms Owen the worst-performing list. decline due to the fall in resource commodi- said. “The Perth suburbs that retracted in value ties,” she said. “An IGA supermarket is being set up in in 2015 is a reflection of the greater Perth “This could either be cyclical or people Alkimos and when a major chain store is market as a whole, which saw annual growth buying up dwellings in desirable places as established in a suburb, it is often an indicator of 0.7 per cent in houses and -3.96 per cent in more stock comes onto the market.” 00 businessnews.com.au | February 12, 2016 View online at: www.businessnews.com.au/article/Alkimos-tipped-to-be-property-hot-spot.

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