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Tapping Suburb Profile

15 Aug 2017 Professionals Wanneroo 0 Comment

Tapping Suburb Report

High-quality homes near Perth can be found without paying a fortune. Any real estate agent in Tapping can help broker a positive deal. The suburb is one of the highest in demand for homes in the low $500s. However, this means potential home buyers will need to have their financing in order before they have a look.

Length of Time on Market

Tapping properties are on the market for an average of 58 days, lower than any of the surrounding suburbs. People looking to purchase will want to work with a real estate agent who has experience and shouldn’t count on negotiations to significantly lower price. That said, the housing costs in this area are notably affordable.

Median Home Sales Price

The median home sale price in Tapping is just $515,000. A slight decline over the previous year. Home buyers have a possibility to save money here while remaining in a safe and enriched residential area. At the same time, homeowners shouldn’t fear for future values. The median price of a home in this suburb has increased 1.6 percent over the past five years.

As a neighborhood, the Tapping suburb is somewhat of an anomaly. The Perth area is seeing an increase in sales of homes under the $500,000 mark — a 12 percent uptick. In addition, there is a rise in the number of rentals that are being filled. This is largely outside of Tapping, however, as the suburb is made up almost entirely of single-family homes.

Percentage of Single-Family Homes

Fewer than 1 percent of the residences in Tapping are apartments or duplexes. Of the 99.1 percent of homes in the area, 66.8 percent are currently financed. An additional 15.9 percent are rented out. Families looking for a place to live in Tapping have little choice but to purchase their own property.

Community Amenities

Home sales are going well, aided in part by modest pricing, but also by a healthy demographic for the area’s amenities. At 27 km outside the city, Tapping offers public and private education, public transportation to the city, parks, shops, eateries and a quiet, relaxed atmosphere that is perfect for families or older couples. It is roughly 45 minutes to the city by car.

Number of Home Sales

In 2016, 118 homes sold in Tapping. In 2017, 58 have closed so far, though sales are projected to be roughly 3 percent lower than the previous year. Real estate agents in Tapping have their hands full with buyers who want affordable, high-quality housing, however, so end-of-year figures could be surprising.

Perth-Area Rentals

Potential renters in Tapping have carved out a challenge for themselves. The limited homes available make for stiff competition. Prices are up, and standards for renters are high. Tapping, however, can be better suited especially to the younger age demographic. The median age in Tapping is in the mid-30s versus North Perth which is in the upper 40s. Areas south of Tapping such as Dianella and Mt. Lawley are also much more populated, with Dianella’s population at over 22,000 people vs. the population of Tapping being less than 9000.

If you’re looking to buy into the area or if you’re thinking about selling get in touch with a real local agent to understand the process. Call Amit at Professionals Wanneroo (9306 1111) and speak to the friendly team for advice or even a free, no obligation market appraisal and find out what you property is worth.
Professionals Wanneroo located in the heart of Wanneroo services the entire region with a particular focus on suburbs including Wanneroo, Ashby, Pearsall, Hocking, Sinagra, Tapping, Carramar.

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