Jamwolf, the marketers caused the buyers to believe the beautiful people would be their neighbours. Happened at Leighton too after voluminous free publicity in the news media. I've seen it many times.
IMHO, the Wannanup area (aka "The Cut", "Port Bouvard") is a swingers paradise with so many yachties around. There is precious little public open space and the gated communities create classes of people and separate them. So called Bouvard Island which is artificial is something like Alcatraz. Wannanup has amongst the highest mortgagee sales of any suburb in WA.
New shareholders must change the culture to be less prone to naval gazing, dreams and vanities. Recent troubles have caused the rats to jump ship so there could be a better future.
PBD Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held