Value cornered in carved up suburban lot

Ride Perth’s property wave at 1 Dericote Way, a corner block in Greenwood where the possibilities are endless.

It’s the last to be sold in a collection of three survey strata titles and is arguably the best of the bunch, with its large street frontage and multi-layered potential.

While the other lots are narrow, 1 Dericote comes with a lengthy 27.34m of street-facing perimeter, while its remaining sides are 18.46m to the left and 14.89m to the right.

At its most basic, the 227sqm corner block could boast a three-bedroom, two-bathroom and double-garage house, making it the perfect place to call home.

Realmark North Coastal Sales Associate Dave Seah said the opportunities were only enhanced by the lot’s quiet street location, just a stone’s throw from a rich hub of amenity.

“Not only is this block easy maintenance, it’s in a great position in Greenwood, located right next to the shopping centre,” he said.

“It’s also close to schools, parklands and the freeway, making it the perfect place to rent out in the future.”

According to REIWA statistics, plenty of homebuyers in Perth agree with Mr Seah, given Greenwood’s 9614-strong and rising population.

No doubt enticed by the northern neighbourhood’s 20-minute drive to the CBD, the community is also tempting due to its short distance from the coast.

Greenwood is just east of Hillarys Boat Harbour and Sorrento Quay, where families can enjoy the child-friendly bay area, a scoop of choc mint ice cream and a trip to AQWA.

With REIWA clocking $510,000 for the median price of a house and a 5.2 per cent leap in annual growth, buying into leafy Greenwood could also be a sound investment strategy.

The business-savvy will lick their lips at 1 Dericote’s $249,000 price tag, an eye-watering $50,000 less than the $299,000 median for land in Greenwood.

With properties in the northern patch being swiftly snapped up, Mr Seah encouraged interested buyers to act quickly and seize the value.

“The best thing about this block is its easy maintenance,” he said.

“Properties like this will appeal to buyers seeking a lock-up-and-leave lifestyle with everything on your doorstep.

“Whether you buy the land first and hold onto it, use it as an investment and rent it out or build a home for your family, the opportunities with this block are endless.”

1 Dericote Way, Greenwood

Price: $249,000

Agent: Realmark North Coastal Duncraig

Contact: Dave Seah, 0421 495 752