WEMBLEY was the top- selling local suburb in the four weeks to January 29, according to the latest data from REIWA. There were 11 sales in the area.
Bexleys Real Estate licensed agent and auctioneer Ray Jennings (pictured) said the Wembley housing market had enjoyed strong buyer demand for 12 months, which had placed upwards pressure on prices.
“This doesn’t look like changing, as I receive constant buyer requests to be informed of any upcoming properties even before they are on the market,” he said.
However, price growth was not across the entire market.
“The Wembley property market is split between houses, townhouses and villas which are selling quickly and the unit market, which is in the doldrums, with prices reducing,” Mr Jennings said.
“The house/townhouse/villa market is supported by owner-occupiers and families wanting to be in the Wembley primary school catchment and these properties can be priced from $500,000 to the high $1 millions.”
Mr Jenning said Wembley, with its very family- friendly facilities, infrastructure, convenient transport options and proximity to the beach and city, would continue to be in strong demand. However, throughout 2018 the unit market would probably remain stagnant.