Inner-city in demand | The West Australian | Ralph Lauren

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Trophy homes in the inner suburbs of Perth are performing strongly, with interest from locals and over-east buyers creating demand for top-end homes in established suburbs.

Realmark Urban Real Estate Agent Miles Garner said suburbs like Mount Hawthorn, Leederville and North Perth had been witnessing strong consumer demand.

“The suburbs used to top out at $1.7 million to $1.9 million, and if you were to spend to $2 million you would go to Floreat or City Beach,” he said.

“People now will spend over $2 million in Mount Hawthorn and North Perth.

“When you look at a lot of the transactions on a dollar per square metre rate, people on average are paying more to get into Mount Hawthorn than suburbs like Wembley and Floreat, which I think says a lot about where the suburb is going and even where our Perth lifestyle is going.”

Mr Garner said many of the interested parties in the inner suburbs of Perth were attracted to the cafe culture and lifestyle, especially buyers from over east.

“A lot of people interested in this one are from over east, and Mount Hawthorn reminds them a lot of Melbourne suburbs,” he said.

One home that has gained particular interest is 92 Flinders Street, Mount Hawthorn, a modern build with sleek lines and geometric influences.

“On Saturday – the first home open – I had 80 groups of buyers, then 70 groups on Sunday, which normally on Sunday your numbers half,” Mr Garner said.

“Then I opened on Tuesday afternoon and I had 32 groups, which is insane for a Tuesday afternoon. These were the types of numbers that, if you got on a Saturday, would be good.

“And the fourth home open I had 21 groups.

“Within a week of having the property up, I had over 200 groups.”

Mr Garner said plenty of the interested parties were executive types who were wanting to be in the action.

“Walk down to the cafe strip where you jump over to Coolbinia, which has some amazing homes but is not the same lifestyle – you can’t walk out your front door and go to the cafe,” he said.

“Not a lot of the other top-end suburbs have that cafe culture.”

Mr Garner only sees these trophy homes close to the CBD increasing in demand as the year goes on.

“The only thing I see stopping anything is a massive COVID-19 outbreak – there are no signs of anything slowing down,” he said.


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