TheBacon said:900,500 is a high price - but this is for a house on the Swan river, 8km from CBD. Not saying the Perth market isnt over-hyped, but its not an outlandish price IMHO.
Exactly. My Uncle owned it for 20 years and was forced to sell to his lawyer neighbour (under the threat of legal action) for 380K back in 1998.
So, if it went for 900.5K, the lawyer got 11.38% p.a. compounded over the last 8 years.
Quite acceptable I suppose as a capital growth rate, but certainly nothing outlandish or spectacular.