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Ocean Reef is a delightful coastal suburb that offers a serene and picturesque lifestyle, making it a wonderful place to call home. Known for its stunning ocean views and relaxed atmosphere, the suburb is perfect for those who appreciate the beauty of nature and a slower pace of life. With a strong sense of community, Ocean Reef is particularly appealing to families, providing a safe and welcoming environment for children to grow up in. The suburb boasts excellent educational facilities, ensuring that families have access to quality schooling options.

In terms of amenities, Ocean Reef is well-equipped with parks, beaches, and walking trails, offering plenty of opportunities for outdoor recreation. The suburb's proximity to the coast means that residents can enjoy activities like boating and fishing, particularly with the popular Ocean Reef Marina nearby. While the suburb may not have the bustling nightlife of inner-city areas, it compensates with its natural beauty and peaceful vibe, making it ideal for those who prefer a quieter lifestyle.

One of the trade-offs of living in Ocean Reef is its distance from Perth's CBD, which might be a consideration for those who commute to the city for work. However, recent roadworks have improved connectivity, making travel more convenient. Additionally, the ongoing developments, such as the proposed Ocean Reef Marina project, promise to enhance the suburb's appeal even further, potentially increasing property values and attracting more amenities in the future.

Overall, Ocean Reef is a charming suburb that offers a high quality of life, particularly for families and retirees seeking a peaceful coastal living experience. With its blend of natural beauty, community spirit, and modern conveniences, it is a suburb that continues to attract those looking for a stable and fulfilling lifestyle.

Living in Ocean Reef can be quite pricey, especially when compared to other suburbs. The current median house price is about $1,317,500, which is significantly high. Units are more affordable, with a median price of $91,000, but they are less common in this area. Renting a house will set you back around $900 per week, while units go for approximately $750 per week. These housing costs are steep, particularly when you consider the average weekly income for individuals in Ocean Reef is around $760. This suggests that a significant portion of one's income would need to be allocated to housing expenses.

In comparison, the median total household income weekly is $2,480, which is higher than the average individual income. This indicates that dual-income households might find it easier to manage the cost of living in Ocean Reef. However, for single-income earners, the financial strain could be more pronounced. If you are thinking of living in Ocean Reef, it's important to weigh these costs against your financial situation and lifestyle preferences. The suburb offers a coastal lifestyle with beautiful beaches and amenities, but it's essential to ensure that your budget aligns with the expenses associated with this desirable location.

Ocean Reef is showing promising signs as a solid investment suburb, particularly for those interested in the housing market. Over the past 12 months, the median house value has surged by an impressive 19.4%, indicating strong demand and potential for capital growth. This kind of increase suggests that the area is becoming increasingly desirable, possibly due to its coastal location and lifestyle appeal.

While the median unit value has remained stable, the rental market for units has seen a healthy increase of 7.5% over the same period. This suggests that there is a growing demand for rental properties, making it an attractive option for investors seeking rental income. The rental growth for houses, at 5.9%, also reflects a steady demand, further supporting the suburb's investment potential.

Overall, Ocean Reef offers a compelling mix of strong capital growth in the housing sector and solid rental returns, particularly for units. Its coastal charm and lifestyle benefits are likely contributing to its popularity, making it a worthwhile consideration for investors looking for both growth and income opportunities.