West Australian suburbs Edgewater & Doubleview among best suburbs in nation to own property

Two WA suburbs have been singled as being among the best areas to own a property in the nation. Edgewater and Doubleview have been named on real estate forecaster Hotspotting’s list of Australia’s “hottest” suburbs, which takes into account how quickly properties sell, the local vacancy rate and rental yield in every State. The two areas are often overlooked in favour of their high-profile neighbours Joondalup and Scarborough, but were second and fourth on the overall rankings, topped by Douglas in Queensland. Edgewater houses sell for a median $901,000 in an average 13 days, with a rental vacancy of only 0.43 per cent. Property agent Tony Mullen said buyers got great value for money, with equivalent homes in nearby Kingsley or Woodvale costing about $350,000 more. Mr Mullen said families were drawn to the area because of its quiet roads, tranquil parks and big blocks. Property agent Richard Clucas, who specialises in Doubleview, said there was increasing pressure on the unit market now houses were beyond the reach of most first-homebuyers. Units sell in an average 16 days for a median $750,000 in the suburb, representing a yield of 5.08 per cent, with an astonishing zero per cent vacancy rate. Mr Clucas said the area’s appeal was due in part to its great views, coastal vibe, and an emerging hospitality scene that was drawing buyers who had traditionally favoured the inner city. “The venues add to the amenity and the casual vibe of what Doubleview is all about,” he said. “It is not in the chaos of Scarborough and not in the depths of Innaloo.” Hawthorndane in South Australia was third on the Hotspotting list, with Queensland’s Acacia Ridge rounding it out in fifth.