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Ocean Reef

POSTAL CODE: WA, 6027
HOUSE

OCEAN REEF, 6027 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in WA have risen as a whole, pulling OCEAN REEF, 6027 values up and netting property investors a capital gain of 9.52% for the past year.

Investors saw the median home price rise to $1,369,000.

Profits due to an upward trend in home prices in the suburb averaged 14.96% per annum over a 3-year period.

OCEAN REEF now ranks at the 414th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in OCEAN REEF are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $950 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In OCEAN REEF, homes and units usually stay on listing for an average of 27.3 days.

In 2016, 121 properties were sold in OCEAN REEF during the past year, making it the 471st most active market in WA based on total real estate transactions.

Surburb overview

Ocean Reef is a coastal suburb located approximately 28 kilometres north-northwest of Perth's central business district. It is part of the City of Joondalup in Western Australia. The suburb spans an area of about 5 square kilometres and is bordered by the Indian Ocean to the west, Iluka to the north, Connolly and Heathridge to the east, and Mullaloo to the south. 

As of the 2021 census, Ocean Reef had a population of 7,840, with a median age of 42. The community comprises a mix of families, professionals, and retirees, contributing to a diverse demographic profile. 

Public transportation in Ocean Reef includes several bus routes connecting to the Joondalup Line via Joondalup and Whitfords railway stations, facilitating access to Perth and surrounding areas. The suburb's Major bus routes include 460, 461, 462, and 470. 

The suburb offers essential amenities, including the Beaumaris City Shopping Centre and Ocean Reef Shopping Centre, which feature a variety of stores such as supermarkets, pharmacies, and dining establishments. Residents can access the nearby Lakeside Joondalup Shopping City for more extensive shopping needs. Educational facilities within Ocean Reef include Beaumaris Primary School, Ocean Reef Primary School, and St Simon Peter Catholic Primary School, catering to students from kindergarten to year six. Secondary education options are available at Ocean Reef Senior High School and Prendiville Catholic College. 

Recreational activities highlight Ocean Reef, notably the Ocean Reef Boat Harbour, which provides a public launching ramp for boats and a small fishing harbour. The suburb also features several parks and green spaces, providing residents with venues for outdoor activities and community events. A dune walkway and cycle path also hug the coast, offering access to several small beaches, picnic areas, and rest stops. 

Ocean Reef's combination of coastal living, accessibility, and community amenities contributes to its reputation as a desirable suburb within the Perth metropolitan area. 

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