Green shoots are emerging in Chidlow and Mount Helena with new research indicating strong price growth is imminent in the outer Perth Hills suburbs.
Well Home Loans chief executive Scott Spencer said while property markets in some parts of Western Australia were cooling, its latest quarterly report had identified the top 10 suburbs likely to heat up in the months ahead.
Spencer said the listed suburbs showed the strongest combination of inventory levels and days on market decreasing over the past three months and asking prices increasing over the past three months.
“Inventory levels and days on market have fallen in all these locations over the three months to April, often from already low levels, which shows buying conditions have become harder,” he said.
“Vendors have noticed, raising their asking prices in all but two of the locations.
“This is likely to translate to higher selling prices in the second half of the year.”
Real Estate Plus Chidlow agent John Druce said the suburb, 45 kilometres east of Perth, had a village atmosphere that was attracting buyers keen for a lifestyle change.
“Chidlow is a less daunting prospect in terms of distance for people now,” he said.
“We’re seeing buyers trading in their 350 square metre block in Vic Park for a five-acre block in Chidlow.