Perth Market Readies for Boom with New Residential Estate

Award-winning national developer, Urbex, has released 27 homesites of a new 50-lot boutique residential estate – Homebrook – on the banks of the Canning River with prices starting from a mere $230,000.

Nestled on the Canning River foreshore reserve, approximately 30 minutes from Perth’s CBD, Homebrook is the first development on the West Coast for the developer and is set to bolster an already emerging trend across the Perth market.

The City of Gosnells has seen a growth rate of 17.9% over the past 12 months, with the latest CoreLogic figures (May 2022) showing Perth dwelling values are at a new record high, after almost eight years of decline and recovery.

General Manager of Urbex Realty, Craig Covacich said Homebrook is expected to build on this existing trend, attracting a range of buyers across varying levels of the property market.

“These latest figures are showing us that Perth’s property market will likely see significant growth in the coming year, so we expect to see buyers looking to get in quick on an appealing development like Homebrook Gosnells, to beat the price rises to come,” Mr Covacich said.

“We’re expecting to see this boost happen quite quickly as construction for the estate is already well underway, with interest quickly increasing ahead of the sites due completion date in September this year.

“Gosnells is truly an extraordinary affordable suburb to live in and understandably attractive for buyers. It’s cosy, family-orientated and surrounded by nature, but it’s the affordability that has really been a talking point across the market,” Mr Covacich said.

Robyn Pillinger, Sales Manager for Homebrook Gosnells said interest in the site is already growing fast with buyers acting quickly.

“We are continuing to see increasing interest in Homebrook Gosnells from buyers and understandably; it really is a hidden gem,” Mrs Pillinger said.

“Combining open space parkland with easy access to local walking trails on the neighbouring Canning River foreshore, buyers are seeing the uniqueness of Homebrook’s nature living nearby to the inner CBD.”

Homebrook Gosnells as a community will bring convenience to its residents in the most natural fashion; surrounded by more than 25 local parks, nearby to shopping, dining and entertainment options, and only 26 kilometres from Perth CBD.

Published: The West Australian 22/06/2022 ‘Square metres: Rise of electric vehicles boosts investor appetite for Perth petrol stations’ (article link).