Claremont tops local property sales

This apartment sold in 36 days to a downsizer looking for larger luxury apartment in a quality complex close to all the local amenities.
This apartment sold in 36 days to a downsizer looking for larger luxury apartment in a quality complex close to all the local amenities.

CLAREMONT was the top selling local suburb in the four weeks to November 5, according to the latest data from Reiwa.

There were 15 sales in that period.

Mack Hall Real Estate agent Richard Self said the housing market in Claremont was in “hot demand” and it was no surprise it was among the top selling suburbs again this month.

“There is a shortage of homes for sale in Claremont and they are averaging around 35 days on the market,” he said.

“The metro average is sitting around 70 days on the market.”

On the other hand, Mr Self said the unit/apartment market was oversupplied, with many options for buyers in this category, from cheaper units near Stirling Highway to villas and townhouses along Davies Road, new apartments around Claremont Oval and off-the-plan apartments, which were taking longer to sell.

“Units and apartments are averaging around 70 days on the market and if not sold are returning to the rental market,” he said.

Mr Self said the most active buyers were families upgrading and downsizers looking for less maintenance, single-level homes or larger luxury apartments.

He said the most active price range in Claremont was for properties between $1 million and $2.5 million.

“Larger luxury apartments between $850,000 and $1.3m, which are ideal for downsizers, are in demand,” he said.

“For houses, young families upgrading into an aspirational suburb and price bracket are seeking homes priced between $950,000 and $2.5m.”