Wembley and Subiaco top March sales hotspots

Image: File Photo
Image: File Photo

WEMBLEY shared top-billing with Subiaco for the highest number of sales recorded by REIWA in the four weeks to April 10, with 16 sales in the area.

Bexleys Real Estate director Mark Smith has long been an advocate for the suburb and extolled its virtues in the April 30, 2002, edition of Western Suburbs Weekly (right), referring to Wembley as ‘10 minutes from everywhere’.

“This still rings true today – just not in peak hour,” he said.

In 2002, Mr Smith said Wembley’s appeal lay in its convenient location – halfway between the CBD and the ocean, close to public and private schools and a variety of parks, including Lake Monger, Bold Park and Perry Lakes.

The area offered a range of housing with a mixture of older-style houses from the 1930s and 1940s, and also home units and student accommodation.

The location is still part of the area’s appeal and Mr Smith said the typical Wembley house buyer was a family or couple wanting to be close to quality schooling, recreational sporting facilities and with access to good shopping options.

While many things have changed in Wembley during the past 15 years, Mr Smith said the suburb had retained its family-|friendly feel and attractive character residences.

“Wembley’s zoning has not changed much over the time, with a few exceptions such as Wembley Lakes Estate and the new Urban on Cambridge development, and the streetscapes have remained as they were many years ago,” Mr Smith said.

“Most of the newer houses that have been built are of a quality standard and blend well with the character bungalows.

“We have seen Wembley’s more elderly residents move on, many to nearby retirement villages, over the past 15 years, making room for the couples and younger families.

“The Wembley Primary School has been a big drawcard for the area and has had several extensions over the period to accommodate the burgeoning student numbers.”

Like the rest of Perth, the Wembley market has had its ups and downs over the past 15 years.

Mr Smith said the current market for houses continued to show resilience, with demand outweighing supply for quality properties.

“Days on market reported by REIWA in March was 39; in many cases if a desirable home is offered at a realistic price point the days on market would be well under this figure,” he said.

“While prices in the area remain stable and have done for the past seven years, continued demand for houses and short supply has potential to lift prices over the coming years.

“By contrast, the unit market in Wembley has struggled over the last year; there has been a reduction in selling prices, mostly due to the oversupply of new units in the Perth marketplace which has affected local sales.

“However, there does seem to be more buyers around since the start of 2017.”

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