From the Property Report in todays West
Highgate is on top in the top 10 unit suburbs year on year 21%
This is the suburb i live in.
Heres an exerptfrom the article
Highgate took out top spot on the best growth suburbs list for units for the past three months with a 21 % jump in median price to $375,000 in the September quarter and second spot on the annual list with a 20% increase on the same time last year.
Scott BJ Properties principal Scott Bannister-Jones said the inner city unit and apartment market had really picked up in the past few months, with activity spurred on by investors and first-homebuyers looking to take advantage of low rates, good rental returns and in the case of the first-homebuyers, $10,500 from the Government. This has led to more competetition because fewer properties were available for sale.
"The power in negotiating has switched to the seller" he said. Previously the buyers had the upper hand with a large supply and less competition. Now that there are fewer properties on the market, buyers are forced to put in better offers or risk missing out."
Paragon Property principal Nik Zounis said over the past 12 months growth had been patchy in Highgate but the area performed well overall. Mr Zounis said Highgate offered a good price point for young buyers who could not afford a house, or would rather spend their money to live closer to the city. "The area is fantastic, only 2-3 km's from the city, with amenities like restaurants and cafes and infrastructure close by."
Limnios Property Group managing director James Limnious agreed. "Highgates quite a boutique suburb, within the Mt Lawley strip. he said.
It reminds people of Chapel Street in Melbourne. Combine that with its proximity to the CBD and Leederville and Mt Lawley its quite a central location.
Highgate is on top in the top 10 unit suburbs year on year 21%
This is the suburb i live in.
Heres an exerptfrom the article
Highgate took out top spot on the best growth suburbs list for units for the past three months with a 21 % jump in median price to $375,000 in the September quarter and second spot on the annual list with a 20% increase on the same time last year.
Scott BJ Properties principal Scott Bannister-Jones said the inner city unit and apartment market had really picked up in the past few months, with activity spurred on by investors and first-homebuyers looking to take advantage of low rates, good rental returns and in the case of the first-homebuyers, $10,500 from the Government. This has led to more competetition because fewer properties were available for sale.
"The power in negotiating has switched to the seller" he said. Previously the buyers had the upper hand with a large supply and less competition. Now that there are fewer properties on the market, buyers are forced to put in better offers or risk missing out."
Paragon Property principal Nik Zounis said over the past 12 months growth had been patchy in Highgate but the area performed well overall. Mr Zounis said Highgate offered a good price point for young buyers who could not afford a house, or would rather spend their money to live closer to the city. "The area is fantastic, only 2-3 km's from the city, with amenities like restaurants and cafes and infrastructure close by."
Limnios Property Group managing director James Limnious agreed. "Highgates quite a boutique suburb, within the Mt Lawley strip. he said.
It reminds people of Chapel Street in Melbourne. Combine that with its proximity to the CBD and Leederville and Mt Lawley its quite a central location.
