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A riverside suburb currently in hot demand

Tuesday, 4th Feb 2014

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Named after a major horse-racing track located within the suburb’s boundaries, Ascot is bigger than most people realise.

Previously part of Belmont and Redcliffe, Ascot is a relatively new suburb established in 1991. It covers a narrow strip of land along the southern bank of the Swan River, around 10 km from the Perth Central Business District (CBD).

Named after the Ascot Racecourse, a major horse-racing track located within the suburb’s boundaries, Ascot is bigger than most people realise, stretching out some distance along the river.

Generally considered to be an up-market suburb, Ascot has many luxury homes, some with direct river access, as well as a popular marina development. Uniquely, it also has an area specifically catering to the equine industry, which allows horse stables to be kept. Adding to the mix of property, west of Tonkin Highway, are several apartment complexes and small townhouses.

Although located close to the city, some parts of the suburb wouldn’t be out of place in the countryside with mature trees and beautiful greenery. Located right on the river is the popular Garvey Park Stables, a park providing for a range of recreational pursuits.

According to the latest figures from REIWA, the median house price in Ascot is $762,500 with the highest sale price being $1,850,000. The median unit price is $502,500, which reflects a growth of 12.8% over 2013.

Based on data from realestate.com.au, Ascot is considered to have a ‘high demand market’ given that there is an average of 97 people looking per property. The WA average is 14.