Sales cement Shenton Park’s standing as Perth’s fastest selling suburb

This Hensman Road home sold in 10 days.
This Hensman Road home sold in 10 days.

TWO recent sales confirm Shenton Park’s standing as Perth’s fastest-selling suburb.

According to REIWA data to January 2018 it takes an average of 24 days to sell in the area, but 157 Hensman Road was only on the market for 10 days, selling after the second home open.

Avanti Residential director Carolena Boyd said more than 50 groups came through the home and there were multiple offers.

“My experience in the Shenton Park market is that predominantly families are buying in. However, some of the interest on Hensman was from couples in their 50s-60s looking for a quality character home with beautiful entertaining areas,” she said.

Judith Barrett-Lennard’s home at 122 Rosalie Street also sold quickly, attracting multiple offers.

Space Real Estate sales and marketing consultant Suzy Costanzo said it attracted a lot of interest due in part to it being the home of a renowned interior designer, along with its contemporary exterior, which is not common in Shenton Park and Subiaco.

“The fact that the property was so private and secure was a great attraction, as well as the location in Rosalie Street – with the park at the end of the Road, and Lake Jualbup being only a couple of minutes’ walk away,” she said.

“The interest was varied from downsizers, because the property is single level, to young professionals wishing to start in the area.”

Shenton Park’s median house price softened marginally by 2.6 per cent to $1.23 million in the year to January, which may have contributed to the suburb’s low average selling days, with potential buyers finding good value in the area.

Ms Costanzo said the interest in Shenton Park had always been high due to the presence of Rosalie Primary School and being in the Shenton College catchment, with the additional advantages of being a small suburb, so shops, cafes and train stations were easily within walking distance.

Ms Boyd said Shenton Park used to be considered Subiaco’s “poor cousin”, but in recent years, people had become increasingly attracted to it as a wonderful, friendly leafy suburb offering excellent facilities.

“It has a very community-minded, village type of atmosphere,” she said.

The other suburbs making up REIWA’s list of Perth’s 10 fastest-selling suburbs are:

2. Mt Claremont

Houses in the area sell in around 25 days.

As well as experiencing a reduction in selling days, down from 36 days in the year to June 30, 2017, Mt Claremont’s median house price increased by 1.9 per cent to $1.32 million in the year to January 2018.

3. Leederville

It took approximately 30 days for sellers in Leederville to find a buyer for their property.

The trendy, well-established suburb has also seen its median house price increase significantly, lifting 9 per cent to $935,000 over the reporting period.

4. Trigg

Houses in Trigg are selling in around 31 days and the median house price increased 2.2 per cent in the year to January 2018, coming in at $1.15 million.

5. Nedlands

Houses in the area are on the market for about 32 days.

Nedlands experienced a sharp increase in its median house price in the year to January 2018, lifting 5.8 per cent to $1.587 million.

6. Bedford

Bedford’s average selling day figure is 34 days. The well-established suburb has a median house price of $625,000, making it the second-most affordable suburb on the list.

7. Subiaco

It also took sellers in Subiaco 34 days to sell their house in the year to January 2018.

Its median house price held its own over the past year, increasing 0.5 per cent to $1.215 million.

8. Mt Hawthorn

Homes in Mt Hawthorn were also on the market for an average of 34 days.

The median house price in the area softened over the past 12 months, declining 3.3 per cent to $851,000.

9. Claremont

Properties in Claremont spent an average 36 days on the market. The median house price was $1.3 million for the year to January 2018.

10. Heathridge

It took an average of 37 days to sell a house in Heathridge.

Heathridge is the most affordable suburb on the list with a median house price of $445,500. n