WA Heathridge vs Connolly

I have been looking at buying an ip in Perth. I noticed that the median price for Heathridge is 505k, wheee as the median for Connolly is 740k. Both are right next to each other and similar distance from the beach. I can understand the higher median of Ocean Reef.
Can someone who know the area throw some light on this? Is Heathridge a good area to invest with the Ocean Reef Marina development coming along? Also any idea when that development will be completed? Thanks for any insights.

 

Connolly great suburb as it is right next to
-nice beaches
-golf course
-joondalup resort
-ocean reef marina development
-joondalup lakeside shopping centre/hospital/uni
-great access to transport and highway making it pretty much same travel time from hillarys to cbd
-close to whitfords shopping centre and hillarys boat harbour

Heathridge is a good suburb too but not as nice as Connolly in terms of the premium vibe. Regardless, both suburbs would do well as an investment if you believe in the ripple effect meaning all suburbs in general go up in value proportionally over time therefore you need to decide what your aim is and set your priorities right. You would be surprised Connolly has high income even higher than Subiaco and Rossmoyne according to abs.

Another reason why Connolly more expensive than Heathridge is the lack of supply in Connolly. Look at map and most of land is golf course.

Perth's first beach swimming pool will be completed by 2024 to 2025 in ocean reef marina.

 

Isn't it obvious? The median house is very different.

This is why these stats are pretty useless for investing.

 

Thanks for the detailed response. Good to know the swimming pool would be completed as soon as 2024-25. I was expecting a 10 year timeline.

 

I noticed this as well. Is this because Heathridge is an older suburb with gentrification yet to happen or is there any housing commission there?

 

I say you cant go wrong in Heathridge or also Beldon.

 

Well median house is pretty much what the typical property is that is bought and sold.

For Heathridge its probably an old 70s 3x1. And Connolly probably a much bigger and more modern 3x2 or 4x2.

 

Heathridge is typically an 80’s 3 or 4 bed, 1 bath, single carport, Connolly more modern 4x2x2

 

Also Connolly has ocean views and golf course views but not sure if heathridge has this?

 

Thanks for all the inputs. I have pulled the trigger on a 3-1-1 on 700m2 for around the 500K mark. Happy with the developments earmarked around the Ocean reef marina and also the feedback from the PC regulars. I will be looking to purchase one more IP around the 600K mark. Any suggestions on suburbs and stock type are welcome.

 

Nice one! Was the offer accepted?

 

Yes offer accepted! Good to see the agents working during holiday season.

 

Congrats if it's the one im thinking of then you bought the house at land value and the building condition looks good.

 

My reasoning is the same as well. Its almost land value and tenanted at $450 per week.

 

Congrats and I said it before as well if I buy at 5-600k range, I would buy in Heathridge too.

 

Exactly

give me value any day

In other words sub dividable block in Heathridge. Its still a beachside suburb with higher surrounding medians

I would also consider Craigie

 

Haha fair enough. I prefer to live in Connolly than Heathridge but as an IP with no emotions involved then maybe Heathridge.

 

yes understand
But the original post was for an IP

 

Oh crikey didn't see that !!

 

Demand in Connolly skyrocketed even more than Karrinyup, Duncraig, Carine etc.

Coastal and Lifestyle Suburbs Get Top Marks in 2021 Housing Report Card