Premium property forecast to flourish as Mont achieves exceptional results
Prestige property in Perth is thriving, as the city turns heads as the hottest real estate market in the country.
With the number of listings at a record low, surging population growth, soaring rental prices, and fierce competition from buyers in Perth, vendors are testing the market and making sizeable returns on their real estate investments.
Mont Property Managing Director Matthew Podesta said there had been ultra-high demand for exclusive and executive homes, particularly around Perth’s trademark Swan River, and Mont had already achieved several impressive sales at the top end of the market this year.
In the last fortnight, Mont brokered the $4 million sale of 48 View Terrace, East Fremantle after several unsuccessful attempts from a number of agents, and recently secured the deal for the stunning residence at 123 Point Walter Road, Bicton.
Recent analysis shows that, nationally, luxury houses have experienced a stronger rate of growth than more affordable sectors of the market in the past decade. While median priced houses have increased by 78%, houses in the top 5 per cent have doubled.
Across the board, CoreLogic data shows home values in Perth have climbed 47% to a median of $211,949 since the onset of COVID in March 2020.
Mr Podesta said premium homes, particularly waterfront properties in Attadale, Applecross, Bicton and Mount Pleasant, were highly sought-after and were achieving exceptional prices.
“Premium homes at the top end of the market continue to be in high demand and everything is pointing to Perth having another big year in property,” Mr Podesta said.
“Since the start of the year, we have seen serious and unrelenting demand for quality homes in our area, with many attracting impressive sales prices well above expectation.”
“Our pocket of Perth has some amazing drawcards. People want to live here because of our proximity to the river, our friendly neighbourhoods and not to mention some of most beautifully crafted and luxurious homes Perth has to offer.
For more local market insights, talk to the team at Mont today.