Cottesloe is the “lotto suburb” for many people, so there is little wonder its residents include some global champions, like golf legend Terry Gale.
Gale’s local residency has come to light this week after selling his Cottesloe home for $3.7 million, making it one of the top 10 sales of the week.
The Hall of Famer — with 43 professional wins under his belt — is set to downsize in the same neighbourhood, not too far from the beloved Cottesloe golf course where he has stunned many a golfing fan.
He is among a raft of sports champions who have either bought or sold in Cottesloe, with some previous House That! alumni over the past four years including tennis star Alicia Molik and some current and former footie greats, including Jaeger O’Meara, Glen Jakovich, Drew Petrie and Brian Sierakowski.
The high-profile names are more than a passing interest. As sophisticated property investors know, local owners are a bit like a shareholder registry.
If there are plenty of well-resourced owners in a suburb, values are likely to outperform the broader market.
Business leaders who have bought or sold out of Cottesloe in recent years, earning a mention in this column, include rich-listers Tim Roberts, Leonie Baldock, Steve Wyatt and Kerry Harmanis.
Local professional leaders include property gurus Damian Collins and Gavin Hegney, former chief justice turned footy administrator Wayne Martin, former Dockers boss Steve Rosich, FMG alumni Nev Power and Elizabeth Gaines, Linkforce founder Luke Herbert, gold tsar Bill Beament, Bannister Downs Dairy boss Sue Daubney, Lendi co-founder Mark Kalajzich, bikie lawyer Michael Tudori and real estate agents Olivia Porteous and Vivien Yap.
Cottesloe’s median has spiked 70 per cent since 2020, compared to 33 per cent across Greater Perth, according to REIWA.
Little wonder a beachside home on Deane St sold for $15.5m this month.
But while the beach, the location and the quality homes underpin values, what does the local golf course do for property prices?
US research suggest homes that back onto, or have views, of a golf course may attract a premium of five to 15 per cent, but the impact on the rest of the suburb is smaller than that of a local shopping centre.
Mr Gale’s three-bedroom home, on a 301sqm site, was sold through Kate Gale of Shellabears.