Developer says interest in Yanchep has increased

Yanchep has been affected by the general property market slowdown but Capricorn Beach estate developers expect steady improvement in the next 18 months. Picture: Anita McInnes

THE developers of Capricorn Beach estate say since the state election and more recent announcement of the Yanchep rail extension the number of inquiries about the estate have increased, pointing to more interest and demand for property in Yanchep.

Acumen marketing manager Mitch Hector said they expect a steady improvement in the land and housing market during the next 18 months, as job opportunities, population growth and economic results steadily improve in Western Australia.

Mr Hector said it was thought the significant rail investment and the associated community benefits would mean the area and Yanchep in particular would outperform the general market improvement for new houses in the coming years.

He said Capricorn Beach had always been popular with buyers looking to move to the beachside location and take advantage of  the lifestyle Yanchep offered.

The majority of those buyers were from more established suburbs in the northern suburbs of Perth such as Quinns Rocks, Wanneroo, Connolly and Clarkson.

“To secure their move to Yanchep, these buyers often need to sell their existing homes, so recent expert advice of a stabilising market for house prices is good news, as that helps people know what price they can achieve for their existing home,’’ he said.

“We are helping those buyers now with a special incentive for a limited time based around helping them pay their existing mortgage while they build their new home at Capricorn Beach.’’

He said Capricorn Beach had not been immune from the general market slowdown in recent years.

“However it has performed relatively well given the established community and social facilities, as well as the beachfront position.

“In slower market times, it is well known that estates with superior amenity and location generally perform better and Capricorn Beach has shown this relative benefit.’’

Mr Hector did not provide specific detail but said land sales at Capricorn Beach had been relatively steady during the past six months, with more positive results in the first half of 2017 compared with the second half of 2016.

When asked about what was the latest news on the potential tourist resort in the former Club Capricorn resort area he said during the past 12 months a lot of energy and attention of the project team had been focussed on the future development in that area.

“In coming months we will be able to share with the community our latest plans and the vision we are developing for this area.

“It is a unique location and the development needs to reflect the special nature of the land, as well as the locals affinity with the beaches in this area.

He said Capricorn Beach offers stunning wide sandy beaches, towering mature tuart trees in beautiful parks and a relaxed and friendly beachside lifestyle.

“We have so many people that come to our estate immediately comment on how ‘different’ it feels from all the other new developments along Marmion Ave – different in a good way.’’