23 sales sees Wembley top REIWA sales for four week period to July 3

Ray Jennings.
This "renovate or demolish" four-bedroom Wembley home on an 830sq m block sold at auction earlier this month. Ray Jennings.

WEMBLEY is one of the regular top performers in the western suburbs, and it has taken the honours in REIWA’s sales results for the four weeks to July 3 with 23 sales.

Bexleys Real Estate licensed agent Ray Jennings said Wembley was being recognised as a suburb offering good value for money, a great location with superb facilities, its family friendly lifestyle and good growth opportunities.

“Young families are very strong in the market place because of the sought-after schooling,” he said.

“However upgraders, relocators as well as downsizers are also looking to buy because of the convenience of shopping, medical suites, cafes, restaurant, parks, transport and of course being halfway between the city and the beach.”

Mr Jennings said there was very strong demand in the area for homes with some land.

“This includes strata lots of villas/townhouses, houses to be demolished or renovated, or recently built homes,” he said.

“There is an oversupply of units, which is reflected in their slow sales.”

Mr Jennings said it was possible, but rare, to find a strata home priced around $700,000, but most properties fell into the $850,000 – $1.5 million price range.

“Properties priced well will sell very quickly within the first couple of weeks (and some before they get to market) with most selling in four to six weeks,” he said. n