Subiaco-based agency The Property Exchange saw increased activity in the area in the last month, with many of their listings selling after the first home open.
“There are many buyers out there looking for the right thing and the most popular commodity right now are individual homes in an affordable price range,” director Niki Peinke said.
“This is generally in the lower half of the average price, where people do not feel too exposed to price changes.”
Get in front of tomorrow's news for FREE
Journalism for the curious Australian across politics, business, culture and opinion.
READ NOWMs Peinke said Subiaco had always been a popular suburb due to its prime inner city location, great history and character, and medium price range status.
“It does well in a strong market when people are upgrading to Subiaco and it does well in a weak market when people are downgrading to Subiaco,” she said.
“They just come from different directions.”
While buyer activity had increased in Subiaco, Mrs Peinke said it was still very important for sellers to make the best of their property if they wanted to attain the best price.
“Prices are still fairly static generally, but where there is competition for a particular property it can show an elevation,” she said.
“Only homes that are well-priced, nicely presented and in demand are selling quickly; properties that are positioned wrongly can stay on the market for quite some time.”
Read the latest information on the local market in REIWA’s suburban snapshot on page 4. n