THE property market in the Yanchep Two Rocks area is forging ahead with the latest ABS building approvals figures showing nearly $150 million of new residential housing was approved during the first four months of 2018.
Capricorn Beach and Atlantis Beach estates project director Jarrod Rendell, said the figures were a big vote of confidence in the future of the Yanchep-Two Rocks property market.
“The coastal strip between Yanchep and Two Rocks is fast becoming a major property hot spot with the ABS figures showing that during the first four months of 2018 there were 642 new homes in the area adding up to a building approval of $147 million.
“During April 2018 alone, the Yanchep Two Rocks area accounted for 15 per cent or one in seven of all new homes approved in the City of Wanneroo.
“The Yanchep-Two Rocks area is starting to outstrip other coastal areas in the local government area in terms of new home building activity.
“For example, during April 2018, some 193 new homes with a combined value of $44m were approved for Yanchep-Two Rocks compared with 158 homes valued at $36m that were approved during the same month in the Mindarie, Quinns Rock and Jindalee coastal area.
Mr Rendell said affordable coastal blocks combined with improving infrastructure, including an upgrade to Two Rocks marina, was driving the investment in new housing both in Yanchep and Two Rocks.