Whilst the Western Australian property market still appears to be on its path of deflation, the luxury end of the market is continuing to defy the odds, one mansion at a time.
Perth’s million dollar market is prevailing in what has been a downwards spiral of property prices since the peak in 2014.
With supply meeting demand, record low interest rates and the cheapest house prices in the country, it’s a no brainer that buyers are trading up while they can – restoring confidence in Perth’s luxury market.
Over the 2018-19 financial year, there were 2,133 house sales above $1 million, which is 11 per cent of all sales. This compared to only seven per cent in 2012 (before the real estate down turn) suggests that sales activity in the top end of the market
is holding up.
Here are five of the most expensive properties sold in Perth last financial year.
1. 3 Chine Place Mosman Park
With panoramic views of the Swan River right at its doorstep, this home stands on 1,070 square metres of land and is one of only two houses on this prestigious Mosman Park street.
This property sold in August 2018 for $15 million, making it one of the most expensive properties sold last financial year. Built in 2006, this four bedroom and three bathroom home is perfectly nestled away and to make it even more special, has direct
river access.
The median house price in Mosman Park is $1,255,000.
View properties for sale in Mosman Park.
2. 1 Chidley Way, Mosman Park
Described as a 'secluded riverfront estate' this house reaps serenity.
With five bedrooms and seven bathrooms, this property sold for $12,050,000 with William Porteous Properties International in April 2019.
With an infinity pool that borders the river’s frontage and complete isolation from other houses and traffic, its no wonder this unique property made it in the list of luxury homes sold last financial year.
This property is a family estate and can only be reached by a private access road. There is no street frontage or passing traffic and its architecture can only truly be admired from a boat on the river.
3. 22 Duncraig Road, Applecross
Sold in November 2018 by Eric Hartanto of Harcourts Applecross for $10,500,000, this masterfully crafted estate, Chateau Belvedere, is positioned on the highest point of Duncraig Road in Applecross.
As you can see from the photos, this creation of a house has every detail perfected and has every feature you need to never leave your home - this property breathes luxury in every crevice.
It has five bedrooms and six bathrooms, plus a one bedroom one bathroom maid’s quarter away from the main house. There is not one part of this 1,839 square metre property that isn’t flawless.
The median house price in Applecross is $1,520,000.
View properties for sale in Applecross.
4. 28A Keane Street, Peppermint Grove
"Mandalay" property sits elegantly on a 2,011 square metre landholding. It has six bedrooms, four bathrooms and a six car space garage.
This monster mansion sold in July 2018 for $6,875,000 by Peter Burns of Mack Hall Real Estate and is the perfect home for family living, yet appreciates the space and features for indoor/outdoor entertaining.
This all class house is timeless and doesn’t last long when it’s on the market.
The median house price in Peppermint Grove is $3,575,000.
View properties for sale in Peppermint Grove.
5. 8 Taworri Way, City Beach
Rounding out the top five is this City Beach gem, which is the epitome of luxury beach living.
This custom designed home built by Romano Homes was a finalist in the 2017 HIA Perth Housing Awards. The striking home represents the idyllic modernist dream, with minimalist yet effective features and plenty of natural lighting.
It features an infinity pool, a gym, wine cellar and cool room. This coastal masterpiece sold for $6,600,000 in November 2018 by Scott Swingler of Space Realty.
The median house price in City Beach is $1,750,000.
View properties for sale in City Beach.
Looking to buy? See what’s for sale in Perth. You can also find out extra information about any suburb in Perth by going to suburb profiles on reiwa.com.
Image one and two: 22 Duncraig Road, Applecross (supplied by Harcourts Applecross). Image three: 28A Keane Street, Peppermint Grove (supplied by Mack Hall Real Estate)
