Perth tops sales for May

This character home on Lake Street, Perth attracted a lot of interest and sold for $1.4 million
This character home on Lake Street, Perth attracted a lot of interest and sold for $1.4 million

PERTH was the top selling suburb for the four weeks to May 21, according to REIWA.

There were 19 sales in the area in that period.

Perth properties range from character homes in old Perth to CBD apartments. Harcourts City Central sales executive Penny Brosnan said their office was experiencing success across the board, from large character homes with a sale price of $1.4 million to apartments.

“We have had a number of houses on the market recently and had good buyer numbers through all of them,” she said.

“The selling time has been approximately 30 to 40 days, which is considerably less than last year.

“There is a shortage of property on the market, especially in the $650,000 to $900,000 bracket, and plenty of buyers.”

Mrs Brosnan said there was a change in the air and buyers were now aware that the market had bottomed.

“Many people living overseas who plan to return here to live are looking to purchase now.

“I recently had an overseas buyer say he felt inner-city Perth property was undervalued,” she said.

“There is also a lot of enquiry and purchase from interstate investors.”

Potential buyers for this Palmerston Street home included investors from London and Sydney. Marketed at over $880,000 it sold earlier this month.