Railway Real Estate

We thought there was no hope in hell we could get a decent house for a good price

The perth median house price has just tipped over the $500 000

It's Perth's best kept secret, suburbs where property prices are still well below, the half a million dollar mark. what's more, they're not hard to find ... simply follow the billion dollar rail line.

Owning their own home by the time they turned twenty, is a dream Tim and Sam never thought would come true

House prices were anything from $500 000 upwards, and that's pretty impossible for us to buy a house.

In the middle of an unprecedented property boom, the young couple found a three by one, brick and tile in Parmelia, south of Perth.

There's not too many places left around WA around the $300 000 or under.

Unless you know where to look. according to Shane Kempton from Harcourts Property Group, along the Perth to Mandurah railline is a good place to start ...

In Parmelia the median house price is two hundred and ninety five thousand dollars. Not far away, Hillman is slightly higher, three hundred and two thousand dollars. Homes in Leda and Orelia have a median price of three hundred and fifteen thousand dollars. Three hundred and seventeen thousand in Cooloongup. And in Waikiki and Warbro you can buy for just over three hundred fifty thousand dollars, and in South Lake the median price is three hundred and sixty two thousand ... that's still a hundred and thirty eight thousand dollars less than the median price in Perth

Naturally they'll draw a crowd, when there's a crowd there's competition and I can't imagine the prices will stay that way for long

Once this train line is up an running, what impact will it have on prices? No doubt it will have a huge impact

Local agent Rod Dohnt reckons demand is already pushing prices up. five years ago he sold this Parmelia place for seventy one thousand dollars ... he's just resold it for three hundred and ten thousand dollars ... that's an increase of more than four hundred percent

You have to look what happened to the Northern suburbs, how the property prices increased there and we expect the same thing to happen here as well.

The local shire's already investing millions in new buildings in anticipation of the boom which is expected to come with the opening of the new line .

Whenever there's been new infrastructure put in generally there's more demand

and according to his calculations, that's good news for buyers.

I could see those areas there potentially move even up to ten percent over the next twelve months.

While their new home needs a bit of TLC, Tim and Sam are glad they got in early. and they believe there's still bargains to be had, so long as you do the househunting .

Median House Prices

Parmelia $295 000

Hillman $302 000

Leda $315 000

Orelia $315 000

Cooloongup $317 000

Waikiki $355 000

Warnbro $357 000

South Lake $ 362 500