200 Perth Subs fetch over the 1million$ mark

[spanna]

Read an article this morning that talked about the fact that 200 Suburbs in Perth have sales of over 1 million dollars now. Up from only 100ish 6 years ago. It mentioned that as the market and upswing matures the "hot price bracket" will be in the 800-1.5mil range!

What are your thoughts? Are you seeing more demand for the mid - upper range recently?

Cheers

 

[redwing]

Only 24 Perth suburbs with a median house prices of $1 million though

 

[westminster]

Read an article this morning that talked about the fact that 200 Suburbs in Perth have sales of over 1 million dollars now. Up from only 100ish 6 years ago. It mentioned that as the market and upswing matures the "hot price bracket" will be in the 800-1.5mil range!

What are your thoughts? Are you seeing more demand for the mid - upper range recently?

Cheers

To me that is a very BIG bracket. I can see $800k being hot as that is now a fairly average house in a nice suburb. I think the bracket will become $800-1.2 and then there will be a $1.2-1.6

But yes as the market matures and moves up and people upgrade then I suppose it's achievable. I think it will take awhile for $1.5 to be a hot price in the suburbs though.

 

[MTR]

What are your thoughts? Are you seeing more demand for the mid - upper range recently?

Cheers

I don't believe this end is flying out the door from what I can see. Buyers are spoilt for choice as still plenty of stock on the market, that's the problem.

The stuff that moves in this price point from what I can see is unique product, ie development sites, period home, huge block that is purchased at land value this sort of thing. Just what I have noticed, but this is very general, I have not looked at every area in Perth.