Home' Scoop Homes and Art : Insite 23 Summer 2009 Contents For your FREE "huelsta Today" magazine valued at $19.95 please email email@example.com
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you'll need a lot more than just a couple of
million. In fact, land along the Cottesloe
coastline starts at $10,000 a square metre
and there are currently only two vacant
blocks for sale. e asking price... $3.85
Statistics from the Real Estate Institute
of WA reveal three out of the top five houses
sold in the year ending June 2009 were by
the water. A Jutland Parade house sold for
$20 million, one in Mosman Park's Chidley
Way went for $16 million and a South Perth
Esplanade home found a new owner for
And who's buying these properties? Real
estate agents say it's not the wealthy out-of-
towners, instead it's fellow Sandgropers who
are coughing up the cash.
As expensive as it is, Perth property guru
Gavin Hegney believes that, no matter its price,
waterfront real estate is worth every penny.
"People are always prepared to pay more
for waterfront locations," Gavin says.
"You tend to find it's always saleable, even
if the market has dropped, and it holds its
value better than generic real estate. ere's
less of it available so it's always tightly held.
Once you own waterfront, it's hard to give
Gavin adds that Perth's best water-
flanked streets are still Marine Parade at
Cottesloe, e Esplanade at Peppermint
Grove as well as e Coombe at Mosman Park
and Oden Crescent, which extends from
Cottesloe to Swanbourne.
Heading north he cites Brazier Drive
at Yanchep and Ledge Point and to the
south Marsden Hill in Bunbury and South
Fremantle to Coogee as other areas of
Like other real estate experts, Gavin
also notes that there's one very significant
topographic element that greatly influences
a waterfront property's price: elevation.
"A site that sits above the view and
provides a panoramic outlook is worth far
more than a low-lying block where you're
struggling to gain views over trees or
dunes," he explains.
But Gavin offers a wise word of warning
to cashed-up buyers of waterfront blocks.
" e mistake many people make is in
what they build," he states.
" e life expectancy of waterfront houses
is about 40 years and many built in the
70s are being knocked down because their
design is out of date. In their place people are
tending to build big fashion homes, but in 30
or so years it's the value of the block that's
increased, while the house value will have
You look up from the
sink of dishes and your
mild, happy thoughts
and glance at the sea,
sometimes, to have
your mind go suddenly
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