Perth Reshaping Premium Properties

The Perth property market continued to peak in May with Cotality (formerly CoreLogic) data showing a 0.7% increase to $813,810. While Perth remains one of the more affordable capitals, lifestyle choices and affordability are reshaping buyer behaviour according to local buyers agent and founder of Resolve Property Solutions, Peter Gavalas.

“Some buyers are redefining what makes a home ‘premium,’ moving beyond traditional luxury neighbourhoods like Peppermint Grove or Cottesloe, while others are seizing opportunities in the affordable segment. Several locations that were previously not considered ‘premium’ are now fetching much higher prices because of increased demand,” Gavalas said.

“It’s no longer just about prestige postcodes or big blocks,” Gavalas said. “Today’s buyers are still spending a lot of money and want to feel they are getting their money’s worth. As a result, they are placing more emphasis on other features such as long-term value, convenience and quality design.”

“Buyers are looking for smarter, more sustainable options, prioritising newer builds that require less maintenance, ‘lock-and-leave’ lifestyles that offer convenience and energy-efficient homes that reduce ongoing costs.”

Source: Cotality (Formerly CoreLogic)

What’s Happening In The Perth Property Market?

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