THE western suburbs market has a new leader, with Nedlands taking out the top spot for sales in the latest data from reiwa.com.
It recorded 20 sales in the four weeks to September 25.
LJ Hooker Dalkeith-Claremont director Vivien Yap said the market had been amazing, with a lot of interest from buyers, increased activity and multiple offers received on properties for sale.
“We launched 9 Bedford Street for sale via open negotiation a week before the school holidays and already have 10 registered buyers,” she said.
“45 The Avenue had been on the market for a while; we held a home-open at noon on a Monday, had six groups through and it sold that day.
“Similarly, 19 Florence Road sold after one home open.”
According to Landgate, Mrs Yap also achieved a record price for Nedlands of $8.5 million earlier this year.
“I feel we’re at the start of a good market,” she said.
Mrs Yap said buyers were looking for homes on large blocks, such as 1012sq m, and homes that were ready to move into where nothing needed to be done.
Overall there was a shortage of supply, demand was high and while buyers knew they had to act quickly, price was still important.
“Nedlands is picking up steam and there is a lot of demand,” Mrs Yap said.
“North of Stirling Highway, many buyers are researching in the mid to high $1 million mark, and south of the highway they are prepared to pay over $2 million for a well-located, well-finished home.
“People are seeing value in Nedlands with its proximity to the city, UWA and good schools; however, if a home is over-priced it won’t sell – it has to be priced to meet the market.” n