This month’s report has shown an increase in activity in the premium and second middle ring suburbs. Below is a one sentence summary of this month’s report:
“We anticipate that market confidence will continue to improve through 2018 and stock levels through the secondary ring will tighten throughout the year.”
The data in this report is sourced from Herron Todd White, who are one of Australia's largest valuation firms. They have 64 offices throughout Australia and over 850 staff. Each month, they publish a 'Month in Review' that provides an insight to the property markets of all states and capital cities in Australia. At Yaran we like to use this report, along with many sources of information, to keep our finger on the pulse of the Perth property market.
One of the most notable excerpts from the report is that there has been a momentum increase in “areas such as Applecross, Mount Pleasant and Booragoon.” This is important information for Yaran specifically as we have two projects in Applecross and one nearby in Como.
- Applecross, Mount Pleasant & Booragoon
- Median Prices
- House - $1,500,000
- Unit - $736,000
- Property Types in Demand
- Brand-new apartments
- Purchaser Profile / Why the market is gaining momentum
- Until recently there was an extremely limited amount of brand-new low maintenance apartments in Applecross, meaning retirees who wished to downsize, had to sell their family home and move to a different suburb in order to get their desired accommodation. With recent zoning changes, brand-new apartments are being developed in Applecross meaning downsizers can enjoy apartment-style living whilst also staying in familiar surroundings.
This is another positive report to start the year and we are glad to be positioned well in the ‘premium’ suburbs of Applecross and Como. If you would like to read this report in full, please click the link below: