INFRASTRUCTURE development in Greater Bunbury’s outlying suburbs is giving property a significant boost, according to Harcourts Bunbury managing director Richard Morgan.
Mr Morgan said new shopping centres and other attractive assets were causing outer suburbs to take turns increasing in value.
“When a suburb erects a new shop or restaurant, it can lead to more people working in the area and just puts it in more demand,” he said.
“For example, a new shopping centre has just been developed in Dalyellup and prices there are generally on the increase.”
According to statistics released by the Real Estate Institute of WA, Dalyellup’s median house price rose by $45,250 (11.8 per cent) from the June to September quarter.
Leschenault saw a similar increase in median price, rising $55,000 (10 per cent), buoyed by the development of an Aldi store nearby.
But Glen Iris saw the most significant rise in median house price over the quarter, jumping $55,050 (16.8 per cent).
Australind, East Bunbury, Millbridge and Usher also rose in median house price.
Mr Morgan attributed the rise to Bunbury’s push to attract more tourists.
“Bunbury has always been based around commerce and industry, and the city is now beginning to push for tourism, which is helping to increase property value,” he said.
“One example is the upcoming water park in the city. That could help boost areas like East Bunbury and Marlston Hill.”
Mr Morgan said areas like Eaton and Australind may also see a significant rise in value within the next 12 months.
“The bridge that is set to connect Eaton to Australind will effectively join two shopping centres in Eaton Fair and Treendale together,” he said.
“This could make the area very alluring to buyers.
“All in all, Greater Bunbury has a strong future in the market with a number of discerning factors making it a desirable place to live.”
