Hot property in local suburbs

Coolbellup and Spearwood were two of 10 WA suburbs on the list, joining Armadale, Balga, Highgate, Joondanna, Merriwa, Seville Grove and Sorrento.

Cockburn’s neighbour to the south, Kwinana, also made the list.

The report was compiled by Smart Property Investment as parts of its annual Fast 50 report.

Suburbs were selected based on a number of factors, including population growth, household income levels, housing demand and previous capital growth. co-founder Michael Fuller said Coolbellup had turned towards high-density living, properties were selling close to three times as quickly as they were a year ago, property listings were low which meant more competition, and rent had climbed 25 per cent from 2012 to 2013.

Luke Berry, director of Next-HotSpot, said Spearwood was popular with FIFO workers who spent their money locally. It was close to beaches, lakes, reserves and a job-creating industrial zone.

City Mayor Logan Howlett said it was great to see two of Cockburn’s oldest suburbs keeping up with the times.

‘More than 200 residents, landowners and business owners recently contributed their vision toward the Coolbellup Revitalisation Strategy,’ he said.

‘It’s no surprise that Coolbellup makes it to one of the top 10 WA hotspot suburbs.

‘In addition, Spearwood is a prime location for people wanting a lifestyle close to the beach and access to great City facilities such as our Spearwood Library and Senior’s Centre.’