Suburb Profile Report for Ocean Reef WA (6027)

Ocean Reef House: Median price $773,750, Annual capital growth 2.62%, Number of sales 123, Weekly median advertised rent $550

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Ocean Reef is in the TOP 20% in WA when comparing median price capital growth over the last year. Ocean Reef gave property investors a very good capital gain figure when compared to the rest of the state, with 1.14%.

Over the longer term, Ocean Reef has seen property prices show investors a 2.48% return over the last 3 years. This is worse than over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Ocean Reef is offering property investors an average of -8.22. This rate of discount on properties puts Suburb at number 363th in terms of most discounted suburbs in WA

Lisa Brake Information supplied by:

Lisa Brake
Best Benchmark Property Management

M 08 9301 1111
O 0432 847 940

W www.benchmarkpm.com.au
E lisa@benchmarkpm.com.au
Ocean Reef, conceived in 1974, was the descriptive name derived from a line of reefs offshore from Mullaloo. Just 25kms from Perth CBD, Ocean Reef is now quite a hot-spot for migrants, especially those from the UK and South Africa.

Over the last year, property investments in Ocean Reef, 6027 have given investors a capital gain of 7.14%. This compares averagely with the 5.90% for WA as a whole.

Taking the average capital gain, or increase in median house value, Ocean Reef,6027 has racked up an average of 7.14% over the period. This ranks it number 835th in the whole country for real estate investors looking at median house price increases.

The most recent median price for Ocean Reef is $750000, with sellers offering an average of -5.20% off the asking price.
Ocean Reef, 6027’s gross rental yield is 4.51%Full summary
Ocean Reef, conceived in 1974, was the descriptive name derived from a line of reefs offshore from Mullaloo. Just 25kms from Perth CBD, Ocean Reef is now quite a hot-spot for migrants, especially those from the UK and South Africa.
 
Over the last year, property investments in Ocean Reef, 6027 have given investors a capital gain of 7.14%. This compares averagely with the 5.90% for WA as a whole.
 
Taking the average capital gain, or increase in median house value, Ocean Reef,6027 has racked up an average of 7.14% over the period. This ranks it number 835th in the whole country for real estate investors looking at median house price increases.
 
The most recent median price for Ocean Reef is $750000, with sellers offering an average of -5.20% off the asking price.
 
Ocean Reef, 6027’s gross rental yield is 4.51%
 
Selling points: 
Ocean Reef is central to excellent facilities. There are two shopping areas within the suburb plus easy access to main shopping at Lakeside Joondalup and nearby Whitfords Shopping Centre. The suburb has five schools including Beaumaris Primary School, Ocean Reef Primary School, Ocean Reef Senior High, Prendiville Catholic College, and St Simon Peter Catholic Primary. Besides being coastal to amazing white sandy beaches, a dune walkway and cycle path hugs the coast from south to north.
 
Most sought-after properties: 
Given its strong selling points, it’s not surprising that approximately 50% of households are families. Houses conducive to family living are most highly sought after: 4 bedrooms, 2 bathrooms with functional open style living, double garage, air conditioning and a pool is a bonus.
 
Most common properties:  
Ocean Reef is a very family oriented suburb with 97% of properties being houses.
 
Recent changes: 
Besides small upgrades such as widening Hodges Dr around Constellation Dr, the City of Joondalup has prepared concept plans for the development of a world class recreational, residential, boating and tourism marina at the Ocean Reef Boat Harbour site. This planned marina will no doubt make Ocean Reef an even more sought after area and in turn increase property values.
 
Best streets: 
The suburb is divided in two by Hodges Drive, with the development to the south often referred to as 'old' Ocean Reef even though there are only a few years between the two. Ocean Reef Beaumaris Estate on the northern end is closer to neighbouring elite suburb of Iluka but the best streets are in the eye of the beholder.
 
Public transport: 
Bus routes through Ocean Reef go to Joondalup or Whitfords train stations/shopping centres. Or park and ride from Edgewater or further north at Currambine.  Otherwise, jump on the recently widened Mitchell Freeway from Hodges Drive for a 25 minute drive into the CBD. 
 
Main arteries: 
Shenton Avenue to the north, Hodges Drive through the centre, and Ocean Reef Road to the south all run west to east and connect to the freeway.  Constellation Drive and Venturi Drive as the main thoroughfares within the suburb with four lane Marmion Avenue running parallel along the border connecting to the neighbouring suburbs.

 

Close
HOUSE UNIT
$773,750 N/A
2.15% N/A
1.14% N/A
2.62% N/A
$550 N/A
123 N/A
3.70% N/A
90.76 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
Find a mortgage broker in Ocean Reef WA
Demographics
Total population 8107
Median household income ($/weekly) 2096
Median age of persons 40
Median housing loan repayment ($/monthly) 2167
Average household size 3.1
  • Census Count Percent(%)
    5-14 years 1235 15.2
    15-19 years 781 9.6
    35-44 years 1132 14.0
    45-54 years 1514 18.7
    55-64 years 1153 14.2
    Others 2292 28.3
    Age Group
    Census Count Percent(%)
    Registered Married 3631 60.2
    Not Married 2123 35.2
    Defacto Relationship 281 4.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3899 49.9
    Papua New Guinea 212 2.7
    South Africa 415 5.3
    United Kingdom 2045 26.2
    Other 432 5.5
    Others 810 10.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 118 1.6
    Christianity 5515 73.3
    Hinduism 59 0.8
    Islam 58 0.8
    No Religion 1726 22.9
    Others 49 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 271 12.4
    $2,000-$2,499 227 10.4
    $2,500-$2,999 380 17.4
    $3,000-$3,499 234 10.7
    $4,000 or more 184 8.4
    Others 889 40.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2603 41.6
    Not in the labour force 1769 28.2
    Employed, worked part-time 1440 23.0
    Employed, away from work 261 4.2
    Unemployed, looking for work 190 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 616 14.3
    Professionals 918 21.3
    Technicians & trades workers 727 16.9
    Clerical & administrative workers 688 16.0
    Sales 448 10.4
    Others 910 21.1
    Occupation
    Census Count Percent(%)
    Pre-school 93 4.1
    Infants/Primary 811 36.0
    Secondary 687 30.5
    Technical or Further Educational Institution 170 7.5
    University or other Tertiary Institutions 443 19.7
    Others 49 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7551 98.1
    Semi-detached, row or terrace house, townhouse 88 1.1
    Flat, unit or apartment 57 0.7
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1241 48.3
    Fully owned 944 36.8
    Rented 379 14.8
    Other tenure type 3 0.1
    Tenure Type
Census 2011, ABS
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