Perth real estate: More home owners consider selling

After years of holding back, more people are now thinking of selling their homes and western suburbs buyers are among those set to benefit according to new research from Westpac.

The report found one third (34 per cent) of home owners are planning to sell in the next five years, an increase of 9 percentage points since November 2020.

Five years is a long time, so Westpac have listed the top areas where people are most likely to sell a property in the next sixth months, with Mosman Park topping the list for houses and City Beach, Claremont, Nedlands, Floreat/Wembley and Cottesloe also in the top 10.

When it came to apartments/units, south-of-the-river suburbs were prime spots for aspiring buyers.

Perth real estate: More home owners consider selling

Camera IconCottesloe’s famous Indiana Tearooms. Credit: Andrew Ritchie/ Community News

Managing director of mortgages Anthony Hughes said areas on the list offered a diverse range of living options for prospective buyers that also catered to the changing preferences seen since the start of the pandemic, including stronger demand for more space through a dedicated study or spare bedroom as many continued to work from home.

Ray White Cottesloe-Mosman Park director Jody Fewster said buyers were flocking to areas with great schools and access to gorgeous beaches, such as in the western suburbs, and demand was strong.

“We usually expect a slowdown during the school holidays as the colder, wet weather dampens the enthusiasm of all but the most serious buyers, but we have more buyers than sellers at the moment,” she said.

Interest was not just from locals.

“I have buyers calling from the east coast telling me it’s simply too expensive to get into those markets and that Perth is really affordable in comparison,” Ms Fewster said.

Prices were on the move though, prompted by ultra-low interest rates and the flow of returning expats driving up demand on top of the western suburbs’ ongoing supply shortage.

Perth real estate: More home owners consider selling

Camera IconThe City of Perth skyline. Credit: Daniel Wilkins/ The West Australian

Ms Fewster said with Perth prices having been subdued for the past five years, sellers were seeing these increases and more were motivated to take advantage of the improved market.

“We have seen price growth across the western suburbs, with Cottesloe the standout,” she said.

“I think there is enough demand right now that prices will continue to rise, albeit not at the crazy pace of the east coast.

“We are hoping for more stock to come to market with August/September traditionally a time sellers enjoy the process.”

There is no need to wait until the warmer months to hit the market, though.

“Realistically we sell as much in winter as we do in summer so I am encouraging sellers to come to market as soon as they are ready,” Ms Fewster said.

Scroll down to see the Perth suburbs where people are most likely to sell in the next six months.

HOUSES

  1. Mosman Park
  2. City Beach
  3. Kinross/Currambine
  4. Claremont
  5. Nedlands
  6. Floreat/Wembley
  7. Cottesloe
  8. Byford
  9. East Fremantle
  10. Beaconsfield.

UNITS

  1. Hamilton Hill/Spearwood
  2. Palmyra
  3. Scarborough
  4. Victoria Park
  5. Beaconsfield
  6. Fremantle
  7. North Fremantle
  8. Melville/Attadale
  9. Belmont
  10. Booragoon.
News Related

OTHER NEWS

Dean Capobianco's Clovelly home sells for more than $5.4m after 10 days on the market

Former Olympic sprinter Dean Capobianco in 1996.Source:News Limited The home of the former Olympic sprinter, Dean Capobianco, and his wife, Jules, has sold above $5.4m — nearly $1m above the ... Read more »

Western Sydney couple reveal how they bought their first home

Brittney Rigby spent more than 10 years saving so she could buy a home with her partner. Picture: SuppliedSource:Supplied Brittney Rigby has been saving for more than 10 years to ... Read more »

Sydney auctions: Stock shortage sends competition soaring for homes during Covid-19 lockdown

No. 2 Wills Ave, Chifley, sold at auction for $3.067 million.Source:Supplied Strong buyer demand for property in Sydney during lockdown is continuing to fuel “boom time” results at many auctions. ... Read more »

Property boom in lockdown? Chances of a Covid-era bargain evaporate as sellers sit on fence

Auctioneer Clarence White sold a home for $620,000 above the price the vendors paid last year. Picture: Julian AndrewsSource:News Corp Australia Sydney home seekers’ chances of getting a lockdown bargain ... Read more »

Regional real estate boom: median house prices soar over $1 million in over 50 locations

Sydneysiders imagining an escape from the big smoke and discovering an idyllic – and more affordable – home in regional NSW may need to dream a new dream. There are ... Read more »

Luxe Listings Sydney star buyer's agent Simon Cohen pounces on $5.5m Potts Point bachelor pad

The three-bedroom apartment in Ikon in Potts Point has Harbour Bridge and Opera House views.Source:Supplied The Luxe Listings Sydney star and buyer’s agent Simon Cohen has pounced on a lavish ... Read more »

South Turramurra homeowner sells property for $620,000 more than what they paid last year

No. 39 Maxwell St in South Turramurra, sold at auction for $2.45 million.Source:Supplied A homeowner in Sydney’s north has sold their three-bedroom house for $620,000 more than what they paid ... Read more »

Government support needed on all levels if property is to succeed after the pandemic

The Federal Government needs to provide more help to the housing industry. Picture: NCA NewsWire / Gary RamageSource:News Corp Australia Managing the housing delivery systems as we come out of ... Read more »

Interior designer Gillian Khaw lists huge Bellevue Hill Art Deco apartment

Gillian Khaw, TV presenter and partner in design firm Handelsmann + Khaw. Picture: John AppleyardSource:News Corp Australia Interior designer Gillian Khaw has listed her huge New York-style Art Deco apartment ... Read more »

Deborah Hutton lists Bronte Hamptons-style home for $12m

The soaring ceilings are part of the appeal.Source:Supplied Deborah Hutton has listed her glamorous Hamptons-style home in Bronte for $12m and has told friends she’s planning to “do it all ... Read more »

Sydney auctions: Auction registrations double as lockdown set to push up prices

House prices are likely to increase at a faster rate as Sydney’s extended lockdown sees the number of bidders at auctions soar. Buyers competing for property at virtual auctions have ... Read more »

Price growth: Sydney's extended lockdown has mixed impact on housing markets

Most parts of Sydney’s housing market have continued to boom despite the city’s extended lockdown – but there are pockets where runaway growth in prices has slowed. City regions where ... Read more »

Bellevue Hill apartment blocks owned by late Joy Balkind sell for $21,210,000 at virtual auction

Two apartment blocks at 80 and 81A Birriga Road, Bellevue Hill, have sold for $21,210,000 at a virtual auction.Source:Supplied Two Bellevue Hill apartment blocks have attracted 20 registered bidders and ... Read more »

Seven Hills neighbours join forces and put their houses for sale with $4.25 million guide

Two houses at 14 and 16 William St in Seven Hills are currently on the market.Source:Supplied Two western Sydney neighbours have joined forces in a bid to become one of ... Read more »

Perth real estate: Dalkeith home represents luxury living at its best

Jaw-dropping is the term that comes to mind when looking at this award-winning Palazzo Homes build. Selling agent Jody Fewster said the owners were very proud of their home and ... Read more »

Anthony Albanese sells Marrickville investment property for $2.35 million ahead of auction

Labor leader Anthony Albanese has sold his Marrickville investment property for $2.35 million.Source:Supplied Federal opposition leader Anthony Albanese has sold a three-bedroom house in Sydney’s inner west for double what ... Read more »

First home buyers priced out as Aussie property boom continues, but surge tipped to slow next year

Homeowners are cheering the ongoing surge in residential property prices but it’s seriously discouraging first home buyers, particularly in NSW and the ACT, where median values are highest in the ... Read more »

Old mine site offers rare chance to step back in time

No. 5 Old Mines Rd in Captains Flat has come up for sale.Source:Supplied Fancy calling a decommissioned mine site home? Unusual as it is, the rustic property sits on 37ha ... Read more »

Former Olympic sprinter Dean Capobianco lists Clovelly home

Olympian Dean Capobianco has listed in Clovelly.Source:News Limited The former Olympic sprinter, cum tech industry veteran, Dean Capobianco and his wife Jules are selling their Clovelly home. Capobianco, who represented ... Read more »

Malouf family behind $26m harbourfront sale in Double Bay

The Malouf family. John Feder/The Australian.Source:News Corp Australia The first of the recent acquisitions by the Malouf family came through this week. It was a $26m Double Bay harbourfront, bought ... Read more »

Homebuyers forced to go to extremes to get land in Sydney's southwest as report reveals block “shortage”

Homebuyers have been forced to jump through hoops or play a form of Lotto to get blocks in new estates in Sydney’s southwest amid a crippling land shortage and record ... Read more »

Cricket legend Michael Slater lists Randwick home with $4.7m guide

Commentator and former Australian cricketer Michael Slater has listed in Randwick. (Photo by Cameron Spencer/Getty Images)Source:Getty Images Cricket commentator Michael Slater and his partner, Melanie Livesey, have listed in Randwick. ... Read more »

Sydney auctions: dated fibro house in Mt Druitt sells for nearly $2m after frenzied bidding

Perth designer to the stars Lara Kovacevich has issued a stark warning to consumers — support fashion designers before all that is left is “Zara and Kmart.” Kovacevich, one of ... Read more »

Killara suburb record broken by incredible estate, could be topped again

It was, as expected, a race too far. Dunedin schoolgirl Erika Fairweather finished eighth and last in the Olympic 400m freestyle final, a race won by Australian Ariarne Titmus over ... Read more »

Sydney auctions: West Ryde sells for $165,000 above the reserve after 26 buyers compete

Hayden Wilde’s family is “ecstatic” watching him bring home New Zealand’s first medal of the games from Whakatāne this morning. Wilde, the Whakatāne athlete who now calls Tauranga home, has ... Read more »

Sydney auctions: brick house in enviable position sells virtually for $735,000 over reserve

An investigation by a global media consortium based on leaked targeting data provides further evidence that military-grade malware from Israel-based NSO Group, the world’s most infamous hacker-for-hire outfit, is being ... Read more »

Former NRL star Jarryd Hayne lists Parramatta investment property

New Zealand’s financial markets watchdog has seen an increase of insider trading complaints in the Covid-19 era. The Financial Markets Authority (FMA) today published its annual corporate plan for the ... Read more »

Rent properties: Rental market prices experiences record surge in line with real estate housing boom

Police have arrested eight men and three women and seized a haul of illicit drugs that could cause an estimated billion dollars worth of harm to the community. Those arrested ... Read more »

Sydney homeowner reveals how to win at auction

Charlotte Watkins was able to buy an apartment in Marrickville for over $1 million by using a unique advantage. Picture: SuppliedSource:Supplied Despite 15 other people competing for the property, Charlotte ... Read more »

Sydney auctions: Lilyfield houses sells for $375,000 over reserve with proceeds to go to charity

Two brothers have purchased 197 Lilyfield Rd, Lilyfield.Source:Supplied Three charities are set for a major financial boost following the epic auction of a rundown house in the inner west. All ... Read more »

Sydney Hyde Park apartment with for sale with Bitcoin as preferred payment method

The homeowners of 1701/130 Elizabeth St, Sydney, are selling their apartment with Bitcoin as a payment option.Source:Supplied Cryptocurrency investors have been handed the opportunity to convert their hard earned Bitcoins ... Read more »

Sydney family with $250k savings unable to buy a house

Hazal Cairns, her husband and 18-month-old daughter have moved to QLD due to Sydney’s ridiculous property prices. Picture: SuppliedSource:Instagram Hazal Cairns is “bitter” about the Sydney property market because despite ... Read more »

Mosman property with secret address sells for $10 million

The Covid-19 pandemic has turbocharged Sydney’s prestige property market.Source:Supplied The Covid-19 pandemic has turbocharged Sydney’s prestige property market – so much so that a house with a top-secret address sold ... Read more »

Tokyo 2020: Inside the stunning homes of Australia's Tokyo 2020 Olympians

An inside look at the homes of Australia’s Olympic stars.Source:Supplied They’re some of Australia’s most famous sporting stars with big dreams of winning gold for country at the Olympic Games ... Read more »

Sydney outperforms Miami and Hong Kong to be world’s best performing luxury housing market

Sydney housing market is showing no signs of slowing down with it tipped to outperform every other global property market. New research from Knight Frank revealed luxury residential prices in ... Read more »

Mollymook home sells for $2.5m to veteran stock picker John Murray

This Mollymook home has sold.Source:Supplied John Murray, the veteran stock picker, and wife Catherine have swapped their weekend tree change for a sea change, spending $2.5 million at Mollymook on ... Read more »

Real Estate: Ivanka Trump and Jared Kushner buy $33m house in Florida

NEW YORK, NY – JUNE 16: (L-R) Eric Trump, Lara Yunaska Trump, Donald Trump, Barron Trump, Melania Trump, Vanessa Haydon Trump, Kai Madison Trump, Donald Trump Jr., Donald John Trump ... Read more »

Glenhaven estate with two cottages sells for 2950 per cent more than 40 years ago

No. 9 Glenhaven Rd, Glenhaven, fetched $5.415 million at a virtual auction.Source:Supplied The homeowners of a 2.02ha property in the Hills have been left stunned after it sold at auction ... Read more »

Real estate agent Monika Tu has joined the cast of Luxe Listings Sydney

Monika Tu will be joining the cast of Luxe Listings. Hollie Adams/The AustralianSource:News Corp Australia Guizhou-born Chinese estate agent, Monika Tu has joined the cast of Luxe Listings Sydney in ... Read more »