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Gosnells tops Hotspotting Price Predictor Index with strong sales activity, desirable amenities, affordability

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Kim MacdonaldThe West Australian
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Perth is the nation’s standout property performer, and much maligned Gosnells is the country’s number one property star, according to Hotspotting property analysts.
Camera IconPerth is the nation’s standout property performer, and much maligned Gosnells is the country’s number one property star, according to Hotspotting property analysts. Credit: 1965937/Pixabay

Perth is the nation’s standout property performer, and much maligned Gosnells is the country’s number one property star, according to Hotspotting property analysts.

Hotspotting Price Predictor Index for Winter 2023 has put Gosnells in the pole position, with its strong sales activity, desirable amenity, and affordable homes expected to boost prices soon.

Canning, Mandurah and Stirling are also on Hotspotting’s list of the country’s top ten performers because the areas — like Gosnells — have strong sales activity, good amenities and are relatively affordable.

Hotspotting general manager Tim Graham said Gosnells “may not be fashionable, and it’s certainly not upmarket,” but it stood out for attracting strong buyer demand.

“In simple terms, it’s what the mainstream buyer is looking for, whether home buyers or investors,” he said.

“Of the nine Gosnells suburbs in our analysis, eight have positive rankings — four rising, three consistency and one recovering markets.

“Most of these locations have median house prices in the $300,000s and $400,000s, providing a level of affordability that Melbourne and Sydney residents can only dream about — and it’s attracting investors from the eastern states in large numbers, too.”

The Winter 2023 Report said the Perth market was more robust now than in its Autumn report — when it was also highlighted as the most robust market in Australia — with more locations recording positive sales trends.

The report found 71 per cent of local government areas studied have strong sales, including 59 with rising sales — indicative of looming price increases — and 72 with consistent markets.

The report found 71 per cent of local government areas studied have strong sales, including 59 with rising sales — indicative of looming price increases — and 72 with consistent markets.
Camera IconThe report found 71 per cent of local government areas studied have strong sales, including 59 with rising sales — indicative of looming price increases — and 72 with consistent markets. Credit: Jana Schönknecht/stock.adobe.

This compares to two-thirds with a rising sales activity in the Autumn report and 63 consistent markets in Autumn.

“Perth has maintained its status as undoubtedly the nation’s busiest and most buoyant property market,” said the report.

“Perth’s strong sales activity record has maintained upward pressure on prices at a time when some cities have recorded falling prices.”

Recent data from SQM Research recorded an 11.5 per cent increase in Perth’s house price index from 12 months to May 2023. Perth also has the lowest median house price of any capital city in Australia, except for Darwin.

“Perth’s affordability relative to other capital cities is a big factor in ongoing demand from home-buyers and investors.

“It’s the bottom end of the city’s market, as well as the consistently solid middle markets, which maintain the nation-leading demand levels.”

The regional WA market has started to reverse the signs of decline seen in our two previous quarterly surveys, led by a revival in the Mandurah market.

The report found growing evidence of recovery across the country, with improved activity in Hobart, Sydney, some sectors of Melbourne, and the regional markets in NSW, Victoria, WA, South Australia and Tasmania.

The report found growing evidence of recovery across the country, with improved activity in Hobart, Sydney, some sectors of Melbourne, and the regional markets in NSW, Victoria, WA, South Australia and Tasmania.
Camera IconThe report found growing evidence of recovery across the country, with improved activity in Hobart, Sydney, some sectors of Melbourne, and the regional markets in NSW, Victoria, WA, South Australia and Tasmania. Credit: Rafael Ben-Ari/stock.adobe.com

“Western Australia, South Australia, and Tasmania — headed by their capital cities Perth, Adelaide, and Hobart — are the jurisdictions with the strongest market pulses,” said Mr Graham.

“Although locations with negative rankings still outnumber those with positive ones, the gap has closed in this Winter survey, with the number of plateau markets reducing and the number of consistency and recovering locations rising,” he said.

“Jurisdictions, where there is growing evidence of recovery in activity, include Hobart, Sydney, some sectors of Melbourne, and the regional markets in NSW, Victoria, WA — where the key market of Mandurah has made a resurgence — South Australia and Tasmania.”

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