All About Applecross, Melville, WA, 6153

Applecross, situated within the City of Melville in Western Australia, is renowned for its upscale housing market and enviable riverside lifestyle. The suburb boasts a variety of housing options, ranging from luxurious modern apartments and opulent riverside mansions to charming suburban homes, all of which contribute to its reputation as a sought-after locale. In recent years, the housing market in Applecross has experienced consistent demand, driven by its prime location along the Swan River, excellent amenities, and proximity to Perth's central business district. This demand is reflected in property prices, which tend to be on the higher end, attracting a demographic that values prestige and quality. Despite fluctuations in the broader real estate market, Applecross remains a resilient and appealing area for both investors and homebuyers seeking long-term value.

Living in Applecross offers a blend of tranquility and convenience that appeals to residents of all ages. The suburb is well-served by a host of amenities, including prestigious schools, vibrant cafes, and the sprawling Applecross Village shopping center. The verdant streets, lined with iconic jacaranda trees, provide a picturesque setting for residents who appreciate outdoor leisure, whether it be strolling along the riverbank or enjoying the numerous parks and recreational facilities. Moreover, the strong sense of community in Applecross fosters a welcoming atmosphere for families and individuals alike. Its strategic location means that the hustle and bustle of Perth city life is just a short drive away, allowing for an ideal balance between peaceful suburbia and urban convenience. Overall, Applecross offers a high-quality, sophisticated lifestyle with all the comforts of a tight-knit community and easy access to the broader Perth metropolitan area.

Applecross Real Estate Market Outlook

Thinking about buying in Applecross? Now could not be a better time, with 5194 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,928,000 with prices in this suburb ranging from $234,000 to $10,548,000. Applecross is located fairly close to the coast at just 6Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Consistent high demand relative to supply is a key feature in Applecross driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Applecross 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. A mix of professions and above average income earners in Applecross provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Applecross requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. 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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