Over the past few months property prices in Lancelin and the surrounding area, has experienced a mini-boom with prices up 10-15% on last year.
Rob Walker from Perth Property Partners confirmed he was seeing “a lot more enquiries, with properties priced in the low $400k range most in demand.”
A property on Casserley Way went under offer recently and since then the agent has had numerous enquiries from people wanting to be contacted should the sale fall through.
Caroline Daniels from Ray White had a property recently go under offer and has a list of 30+ people willing to step in should that deal fall through. “I’ve been here for more than 10 years and I’ve seen nothing like it.” admitted Caroline.
At present there are just 19 Lancelin properties listed on the REIWA website and there are more buyers than sellers at the moment.
Properties that might have taken months to sell are securing offers within a couple weeks. A property in Atkinson Way sold for the asking price as the buyer simply didn’t want to miss out and one in Salvaire Crescent sold recently in less than 2 weeks.
So who’s buying? FIFO workers who were previously travelling from the eastern states are now having to base themselves in WA and they see Lancelin as a great value option. Perth retirees are now realising they don’t need to go further north to find the infrastructure they want in retirement and are looking at Lancelin.
Unfortunately local estate agents simply can’t get enough properties as more people realise that Lancelin is just an hour from Perth and here they can secure a 1/4 acre (1,012sq metre) block at a reasonable price.
Caroline Daniels revealed that “a year ago there were around 60 blocks for sale at Sunset Estate in Ocean Farms. Today there are just 25 left and 8 sold in December alone. In the ten years I’ve been here, I’ve never seen it like this.”
If you were contemplating selling, it sounds like now is the ideal time to do so.