Get a property report and suburb profile for any property in Ocean Reef

Ocean Reef is a coastal suburb fronting the Indian Ocean with a long sandy foreshore, an offshore reef and a prominent marina and boat harbour that give it a strong maritime feel. Housing ranges from established single-storey brick and weatherboard homes on quiet streets to newer waterside apartments and houses around the harbour. Foreshore reserves, coastal walking paths and fishing and boat-launching facilities mean everyday life here leans outdoors, and Joondalup's shops and services are a short drive inland.

Home to 8,125 people with a median age of 44, Ocean Reef is a suburb of families and has a high rate of owner-occupation. The Ocean Reef Marina project is reshaping the former boat harbour into a new marina and public precinct, with breakwater works complete, new boat ramps operating and purpose-built facilities for the Sea Sports Club and Marine Rescue, and the master plan includes a beach park, a coastal pool and a marine enterprise precinct. A new sports hall at Ocean Reef Senior High School is also under way. That combination will appeal most to families, boating enthusiasts and retirees; whether it suits you depends on what you want from a suburb.

Buying in Ocean Reef looks stretched against local incomes. The median house price of $1,627,500 works out to about 12.6 times a typical local household's annual income at the last Census, which places buying well above what households earned then.

Renting a house at about $980 a week would take roughly 39.5% of a typical local household's weekly income at the last Census, a sizeable share. On these figures both buying and renting sit high against local incomes, with buying particularly stretched; whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

A strong 13.7% rise in median house values was the clearest movement in Ocean Reef over the past year. House rents also increased, up 5.9% over the year, a solid gain.

That means, for houses, capital growth outpaced rental growth in the last 12 months. Which of those outcomes matters most depends on your investment goals and personal circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.