All About Ocean Reef, Joondalup, WA, 6027

Ocean Reef, located in the City of Joondalup, Western Australia, is a coastal suburb known for its picturesque views and family-friendly atmosphere. As of the latest data, the housing market in Ocean Reef reflects the high demand for waterfront properties that offer a relaxed lifestyle within proximity to Perth's central business district. The area is characterized by a mix of established homes and modern developments, catering to various budgets and lifestyle preferences. With its stunning beaches, marina, and recreational facilities, Ocean Reef continues to attract both local and interstate buyers. Housing prices have experienced steady growth over recent years, attributed to the suburb’s appealing combination of scenic beauty and convenience. Potential buyers often find a competitive market, where keen interest in the limited inventory can lead to quick sales and often at premium prices.

Living in Ocean Reef is marked by a strong community spirit and a laid-back lifestyle. Residents enjoy access to a plethora of outdoor activities, including beachside picnics, water sports, and hiking trails through nearby natural reserves. The suburb is well-equipped with essential amenities, from local shopping centers and reputable schools to healthcare facilities and public transport links, ensuring a balanced and convenient lifestyle. The marina is a focal point for social gatherings, dining, and leisure activities, enhancing the suburb's charm and liveliness. Moreover, Ocean Reef's close-knit community often comes together for local events, fostering a welcoming and inclusive environment. Overall, Ocean Reef provides an enviable coastal living experience that combines tranquility with modern conveniences, making it an attractive choice for families, retirees, and professionals alike.

Ocean Reef Real Estate Market Outlook

Thinking about buying in Ocean Reef? Now could not be a better time, with 3210 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,153,000 with prices in this suburb ranging from $354,000 to $4,637,000. Ocean Reef is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices

Consistent high demand relative to supply is a key feature in Ocean Reef driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Ocean Reef ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. Low average earnings from people in Ocean Reef leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Medium density in Ocean Reef necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

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