GENERATION Y is ignoring Perth’s urban sprawl suburbs and instead flocking to established middle-ring suburbs in the search for a better lifestyle.
All but one of the top 10 suburbs which have recorded the biggest increases in the number of 25-to-34-year-old homebuyers and renters were 10-20km from the CBD.
Caversham, 15km east of the CBD, could be WA’s next cool postcode after it recorded a 52 per cent increase in the proportion of Gen-Y residents between 2011 and 2016, Census figures compiled by REA Group show.
Also attracting hordes of Gen-Y homebuyers and renters were Landsdale (19km from the CBD and up 34 per cent), Balga (12km and 31 per cent), Woodbridge (15km and 28 per cent) and Ardross (15km and 22 per cent).
The trend had emerged despite State Government incentives which encourage new-builds on Perth’s fringe.
Real Estate Institute of WA president Hayden Groves said the trend was an encouraging sign that told policymakers where Gen-Y wanted to live.
“It’s completely contrary to the State Government’s first-homebuyer policy settings which are encouraging urban sprawl,” he said.
Mr Groves said younger buyers want to live in affordable homes closer to the city, near infrastructure such as schools and shops.
REA Group chief economist Nerida Conisbee said the figures showed Gen-Y buyers were buying homes in suburbs across several price brackets.
“The lifestyle locations stood out,” she said. “It’s an interesting mix of suburbs, with some areas being established in lower-cost first-homebuyer areas, while others like Ardross and City Beach are quite expensive.”
Ms Conisbee said young buyers had the energy to renovate older homes or build new homes and reinvigorate an area, encouraging cafes, retail and schools to open. “Having young people changes the area,” she said.
Mitze Farrell, 28, and John Phan, 29, recently bought their four-bedroom, two-bathroom home on 480sqm in Landsdale for $575,000. “It’s a really family-orientated area and it’s got good schools and parks,” Ms Farrell said.
LJ Hooker agent Lee Willis said its amenities and proximity to the city attracted buyers.
Caversham – 52 per cent
Landsdale – 34 per cent
Balga – 31 per cent
Woodbridge – 28 per cent
Ardross – 22 per cent
Beckenham – 22 per cent
City Beach – 21 per cent
Embelton – 20 per cent
Cloverdale – 20 per cent
Wilson – 20 per cent
Originally published by perthnow.com.au
Tags: Buy & Sell, top 10 suburbs