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%
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.
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.
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.
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.
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.