March 07, 2016
In terms of its profile, Duncraig looks very similar to our home suburb of Kingsley: 8 square kilometres, a slightly larger sized population of about 15,000 people, approx 85% of them being owner occupiers, the predominant age group being 0-14 years (a lot of families with young children), and households that are likely to be paying $1,800 to $2,400 a month in mortgage repayments.
One significant difference that stands out on paper when we do the comparison is that while Duncraig has 21 parks covering nearly 9% of the total area, Kingsley's 21 parks cover a shopping 26% of the total area! Our guess is that this statistic is largely skewed by the presence of Lake Goollelal on the east side of Kingsley - a lap around it is about a 5km run.
The median house sale price for Duncraig in January 2016 was $678,750, a drop from the significantly higher figures late last year which peaked at $780,000 in August.
At a time when we are seeing heavy renewed interest in purchasing of owner occupied property, we are trying to figure out why this might be the case. Our thinking is that the real interest we are seeing in property has tended to be around the $400,000 to $675,000 range, and as such while there might have been more sales recently, they would have been for some of the less expensive homes in Duncraig than the smaller number of more expensive homes that would have been changing hands last year.
Perhaps now is a time to look closely at a higher end property in Duncraig, if you're in the position to do so - there may be good value available.
To make an appointment to discuss purchasing property in this area, call Tim and the Team on 9309 4780!
This suburb profile has been created using information from one of the really useful reports produced by CoreLogic RP Data. To read more on how these different reports could be of benefit to you, and how Mortgage Choice in Kingsley can supply you with one free of charge, then check out this blog post or give us a call on 9309 4780.