SUBIACO was the best performing local suburb in the four weeks to September 10, according to REIWA data.
There were 15 sales in the area in that period.
Avanti Residential director Carolena Boyd said most houses, whether renovated or unrenovated character homes or new homes, were selling well and quickly as long as they were well-priced and well-presented.
“While in the past Subiaco typically attracted buyers seeking traditional homes, with the growth and expansion of Subi Centro particularly, people coming to the area now have broader tastes,” she said.
“That said, the more traditional home probably still has a slight edge in attracting buyers.”
Ms Boyd said houses were selling well in most price categories.
“The buyer triangle does narrow once you get into the $1.5 million-plus bracket, however there are still a number of qualified buyers around $2 million who are seeking quality homes,” she said.
The apartment market was still a little unpredictable, with newer apartments attracting more interest than older ones.
“In the apartment market, properties from $500,000-$900,000 seem to be moving well,” Ms Boyd said.
“Again though, it is all about price and presentation.”
Buyers active in the market were predominantly couples and families, according to Ms Boyd.
“We aren’t seeing too many first-home buyers,” she said.
“Slowly but surely we are seeing renovators and investors re-entering the market place.”
Ms Boyd expected the current positive market trend to continue on a gentle incline throughout the rest of the year.
“Buyers seem to have accepted that we have seen the bottom of the market,” she said.
“Subiaco is again becoming a suburb of choice as buyers become more aware of some of the future attractions of the area.
“The new Inner City College is well under construction and the Pavilion Market site is set to be re-developed at last.
“We have beautiful parklands, a village-type environment, friendly, safe streets and easy accessibility to every facility you could wish for.”
This Barker Street home is a good example of renovated character properties in demand in Subiaco.