FINANCIAL YEAR 2023/2024
Market Update
In recent years, the property market in Ocean Reef has experienced steady growth in property values, driven by ongoing demand and limited housing supply in desirable coastal locations.
In the last Financial Year Ocean Reef has definitely been one of most popular suburbs in the North. With 128 houses sold in the past 12 months and a sales average of only 12 days being on Market.
The median house price in Ocean Reef is now $1,226,745, which is an incredible 23% increase from the previous 12 months period. The average tenure in Ocean Reef is 17.3 years.
Over the past year, house prices in Australia have experienced a significant 9.5 per cent increase, bringing the national median to $886,818.
The past month Perth maintained its growth momentum, recording a 1 2 per cent monthly rise, which contributes to an impressive annual growth of 23.9 per cent, pushing the mean price in Perth to $833,326.
As we progress through 2024, I look forward to keeping you updated and please know that I’m here to assist with your real estate endeavours any time
$1.22M
OCEAN REEF MEDIAN SALE PRICE*
OCEAN REEF SALE PRICE ANNUAL GROWTH 23%
128
OCEAN REEF PROPERTIES SOLD FY 23/24
54
OCEAN REEF HOME MEDIAN DAYS ON MARKET* 12
OCEAN REEF HOMES CURRENTLY ON THE MARKET
