TWO Albany suburbs have featured in REIWA’s fastest growing suburbs for the year to June 2017.
Lower King had 12.7 per cent median house price growth and Yakamia rose 10.4 per cent
With Orana (2.3 per cent), they were also among REIWA’s top performing regional suburbs.
Mason Realty principal Rob Mason said it was fantastic to see Albany feature so prominently.
“Albany still represents excellent buying and within the three suburbs listed in the top 10, there are still quite a few homes for sale under $300,000, well below the median price,” he said.
Mr Mason said Lower King offered a mixture of acreage lifestyle properties, affordable homes on suburban blocks and some properties with Oyster Harbour or King River Frontage, while there were many new builds in Yakamia.
“Newer homes selling in Yakamia help push up growth figures as does the sale of lifestyle-type properties in Lower King,” he said. “Recent developments in and around Orana have probably led to renewed interest.”
Mr Mason said the Albany real estate market had been steady for some time although prices had still not returned to the levels they were 10 years ago at market peak.
The growth in Lower King, Yakamia and Orana could indicate renewed interest in the town.
“Improvements to infrastructure in the town over the last five years have seen incredible improvements to the amenity available for residents and tourists alike,” he said.
“These include a new town square, the York St and Stirling Tce upgrades, waterfront development with Albany Entertainment Centre, marina, tavern and soon-to-be-built hotel, new viewing platform at The Gap, National Anzac Centre, and residential development at the town beach.”