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The real estate network has been won over by the area’s prospects of “exponential growth”.
LJ Hooker Applecross has recently added the lakeside suburb of Coogee to its operations in order to strengthen its presence in Perth’s southern beaches.
According to LJ Hooker Applecross principal Daniel Lewis, new land releases, redevelopment and double-digit growth are all major propellers behind the widened purview.
“It’s a good time to undergo expansion,” Mr Lewis stated. “Over the last few years, the growth in the area has been exponential.”
“The land release in the area allowed buyers who were trying to get into areas like Fremantle and South Fremantle the opportunity to enjoy similar amenities around the southern coast.”
“Coogee and North Coogee has been a little hidden gem,” he revealed.
According to CoreLogic, Coogee saw 14 per cent in growth over the last 12 months, almost triple Perth’s median house growth of 5 per cent.
Investment activity is also strong in the area, with gross rental yields of 5 to 6 per cent drawing in investors disillusioned with the east coast market.
Mr Lewis revealed that the Lake Coogee precinct is a particular hotspot, with buyers from southern inland suburbs keen to upgrade to the Perth coast.
“It’s a good time to undergo expansion,” he said. “Everything has gotten back to normal in Perth after COVID, and the mining sector had a record period for exports last year.”
“We’ve recruited well and we’re well-positioned to service the confidence in the city.”
LJ Hooker Coogee has initially begun as a virtual office, with a physical office in the works over the coming year.
Mr Lewis will be joined by fellow agent David La Rosa and head of sales Navid Heshmati.
Having just come on board in 2020, Mr Lewis has already won the support of LJ Hooker’s general manager Stephen Mutton, who claimed that “LJ Hooker Applecross has made great inroads into a competitive riverside market.”
“Daniel has a great vision for his two marketplaces and LJ Hooker is excited to support him in this new chapter,” Mr Mutton said.
Coogee is not the only southern Perth market that LJ Hooker has had its eye on this year, with July seeing the network bolster its Thornlie/Canning Vale leadership team.
Busselton, Yokine and Port Hedland also made their way into the brand’s Western Australia portfolio earlier this year, as LJ Hooker sought to capitalise on the booming market.
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