The rise of wellness real estate in Australia is undeniable, with an impressive trajectory evident in its growth metrics. Currently, the market value of this sector stands at a formidable $275 billion, and by 2027, it’s projected to soar to an astounding $580.3 billion. This growth, expanding at a Compound Annual Growth Rate (CAGR) of 21.77%, signifies the burgeoning interest in wellness real estate. Within this expanding landscape, regions such as Dandallup, Mindarra, Gidgegannup, Bridgetown, and Bunbury in Western Australia are capturing the attention of astute investors. Their appeal goes beyond mere wellness attributes; it is the underlying property value and investment potential that is truly compelling.
The Wellness Lifestyle Real Estate segment, as outlined by the Global Wellness Institute (GWI), focuses on properties designed with holistic well-being in mind. These are homes built for health and wellness. Financially, these properties often have price premiums ranging from 10-25%, and in some areas, up to a staggering 55%. In 2020, Australia ranked third in the global wellness real estate market with a valuation of $16.54 billion. The GWI’s report “Build Well to Live Well” offers further data on this trend.
- 45% of Australians prioritise proximity to a local park.
- 50% value the presence of a paved walking track in the vicinity.
- 70% emphasise the convenience of nearby public transport.
- 64% seek homes within walking distance of essential services.
Given that our surroundings influence up to 90% of our health, the inclination of Australians towards health-centric residences is justified.
Exploring the investment potential in Western Australia, regional suburbs emerge as noteworthy:
Land Appreciation
As urban areas approach their boundaries, there’s a growing interest in rural land values. These larger plots are well-suited for wellness real estate amenities, adding to their long-term investment appeal. This is evident in Western Australia, which saw a rise of over 30% in the median price per hectare in 2021.
Environmental Benefits
The homes in the region take full advantage of the natural benefits available, including sunlight and green surroundings, which contribute to improved air quality and wellbeing. This is supported by the typically good air quality in Western Australia’s rural areas, which often have an Air Quality Index (AQI) of 0-33, categorised as “Very Good.”
Architectural Prowess
Modern structures in these regions echo global wellness benchmarks – transparency, natural illumination, and sustainable designs, all correlated with health betterment.
Strategic Location
Rural Western Australia combines natural beauty with modern accessibility. While residents can enjoy the tranquillity and charm of the countryside, urban amenities remain within reach. This unique setting ensures a peaceful retreat without compromising on convenience. It’s an ideal location for wellness real estate enthusiasts and those seeking the best of both worlds.
Community Aspects
The tight-knit nature of rural communities contributes to residents’ mental well-being, fostering a sense of support and reducing feelings of isolation.
Balance of Activities
The region offers diverse ecosystems for nature lovers, clear skies for stargazing, adventure sports terrain from coast to hinterland, and rich vineyards for wine enthusiasts. The area’s history is explored through guided tours, local communities offer art workshops, and its serene landscapes are ideal for wellness retreats.
Sustainability
The untouched landscapes of forests, rivers, and hills in these regions highlight a commitment to sustainability, bolstering the long-term value of properties.
If you would like to invest in rural WA, contact us so we can start exploring options.