Perth has a mixed bag of fortunes at present as far as its real estate market is concerned. Overall, Perth has seen a marginal slump in its real estate and housing sectors in recent times with some of its key micro markets witnessing de-growth to certain levels. However, there are quite a few suburbs in Perth which continue to defy this trend and successfully at that. There are southern suburbs located near the city of Perth which continue to do well in terms of real estate and housing.
These southern suburbs have managed to buck the trend and several experts feel that prices have touched levels which are the highest in decades for this stretch. This points to rapidly skyrocketing demand amongst homebuyers in the southern suburbs, something that has propelled the Perth realty market to greater heights in recent times. Mount Pleasant is one of the top suburbs that are witnessing real estate growth in Perth. This is one of those micro markets where there is sustained buyer demand and hence this is leading to price growth, something that has not gone unnoticed as far as investors are concerned as well.
Housing units in Mount Pleasant have witnessed price growth exceeding 25% over the last year or so and the median price now stands at roughly $1.2 million which puts it at the top of the list of fastest growing suburbs in Perth. Price growth has also been witnessed in South Perth and Kensington in tandem with Glen Forrest and West Leederville. There are several infrastructural projects happening nearby and the availability of amenities is another factor spurring demand in all these areas. Homebuyers are also looking for properties which are located in close proximity to reputed government schools and other necessary social amenities. There are several buyers who are looking to pay more for real estate in order to garner higher savings on private school fees in the long run as per experts. This is one category of customers that is also driving growth in multiple Perth suburbs.
