Nestled in the Perth Hills is an exclusive suburb that would have many scratching their heads trying to pinpoint on a map.
Located halfway between Midland and Mundaring, Hovea is named after the purple native flower common along the Darling Scarp. It’s a large lifestyle suburb with acreage blocks – but only 250 houses, according to the latest census.
REIWA data shows that there was only one sale in Hovea in the past financial year, only two the previous year, and no sales in 2017. Currently there are no properties listed for sale in the suburb.
Real estate agent David Mattock, who lived in Hovea for more than two decades, said the suburb was commonly referred to as the “Dalkeith of the Hills” by locals.
“If you don’t have $1 million you probably won’t get a property in Hovea,” he said.
“The selling time for a property on the market is longer, you don’t get investors buying in Hovea, so you are cutting out 30 per cent of the market straight away and there are very few first home buyers who can afford it. ”
Mattock said the area was developed in the 1980s when subdivision was revised down to 2.5 acres.
“It doesn’t have the old ramshackle character homes like some of the other older Hills suburbs but most people believe it is currently undervalued,” he said.
“It borders the John Forrest National Park and is a lovely place, particularly for families with children growing up.