Coastal properties in Perth may outperform those on the riverfront in the long term.
Perth has long experienced ocean sprawl, as opposed to urban sprawl and demand for housing along the coastline was ever growing.
Of course it is personal preference, but beachside living offers so many attractions – there is a never-ending quest by many Perth homeowners to live in a home with ocean views.
With those views come lifestyle features like fresh air, sea breezes and the ability to be at the beach for walking and swimming within minutes.
There is a lot of prestige associated with beachside living in Perth – one of the reasons for that is scarcity – and as opportunities to live in those areas get smaller and smaller over time prices will only continue to surge higher.
Over the 10 years, ocean and river suburbs have run neck-in-neck for capital growth, but more recently the ocean suburbs have moved ahead.*
But great investments aren’t limited to properties that directly front the water.
Being within walking distance is enough – and buying a suburb back from the ocean is also a good move – but try to buy west of the freeway and make sure the benefits of the particular property you snap up are well-researched.
For those who don’t want to deal with the wind and salt and the like, the river is still a fabulous option – and many would argue it is the only place to be for spectacular night views.
At the end of the day, whether you choose the river or the ocean comes down to personal preference. The deciding factor will be weighted with all the other benefits of the location you are considering.
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(*Source: Analysis of REIWA March 2013 data, ocean and river suburbs west of East Perth, South of Ocean Reef and North of Coogee.))