Sorrento Market Update

Nestled just steps from the serene Sir James McCusker Park, the newly listed four-bedroom gem at 9 Perissa Road, Iluka, has undergone a stunning transformation. This residence, with its solid structure and spacious layout, offered a solid canvas, however with the help of The Noble Avenue Team the home has been revitalised to capture the hearts of contemporary buyers, with new carpets, blinds, paint and exterior touch ups for added appeal. As part of our Noble Elevate services, we have also staged the property with modern furnishings to help buyers visualise the space. The Challenge Our task was to enhance the home's inherent strengths without undertaking extensive renovations that could delay the listing and inflate costs. The Noble Elevate Touch Elegant Interiors: We started with the basics—installing new, high-quality carpets and modern blinds that not only refresh the look and feel of the interiors but also complement the home's existing strengths. A fresh coat of paint in soothing neutral colours was applied throughout, creating a bright and welcoming environment that significantly enhances the home's ambiance. Strategic Staging: Our staging experts at Noble Elevate meticulously furnished the home, focusing on crafting a warm and functional environment. The strategic placement of modern, appealing furniture allows potential buyers to visualise their life in this space, increasing the emotional appeal. Exterior Enhancements: We understand that first impressions are crucial. Minor updates to the exterior presentation, including tidying up the front yard and adding welcoming touches like potted plants and a pristine entryway, ensure the home makes a strong initial impact. The Impact Since its re-entry into the market, 9 Perissa Road has sparked increased buyer interest. Visitors are consistently impressed by its polished appearance and the quality of the enhancements, making this home a standout in the Iluka area. Conclusion This case study at 9 Perissa Road isn't just a success story; it's a testament to Noble Elevate’s dedication to excellence and an invitation for homeowners and buyers to experience the pinnacle of property enhancement. By accentuating the property’s key features and addressing any shortcomings with strategic improvements and sophisticated staging, Noble Elevate has expertly positioned this home to attract the best market price and reduce time on the market. About Noble Elevate Noble Elevate coordinates and helps cover all costs for your home's improvements, presenting it in the best possible light for sale. With every detail managed meticulously, Noble Elevate understands exactly what today’s real estate market demands and ensures your property stands out to potential buyers. Attract more buyers, drive competition, and maximise your property’s sale price. Find out more here. Get in Touch Interested in learning more about this transformed property? Contact Jay Dass at 0407 205 421 or jay@nobleavenue.com.au. View the property and open home times here. Furniture staging by Kirsty Blane from Abode Design   Invitation to Homeowners and Buyers Homeowners: Are you considering selling your property? Experience the transformative impact of Noble Elevate. The makeover at 9 Perissa Road not only enhanced its market appeal but also established a new benchmark for home presentation in Iluka. Check it out and let us elevate your home to reach its full potential and captivate the market. Buyers: Are you on the lookout for a home that defines luxury and comfort? 9 Perissa Road is now available for purchase, offering an exceptional opportunity to own a residence that has been meticulously staged to showcase the highest standards of style and functionality. Image Gallery View our transformation in pictures and see the elevated standard of living offered at 9 Perissa Road, Iluka.     [gallery size="large" ids="10563433,10563436,10563431,10563432,10563434,10563435,10563430"]

Record-Breaking House and Unit Prices In the ever-evolving narrative of Perth's real estate market, March 2024 stands out as a historic month where we witnessed an unparalleled upsurge in property values. This period marked a new pinnacle in house and unit prices, setting unprecedented benchmarks across the board. According to the latest data from the Real Estate Institute of Western Australia (REIWA), the median house price soared to a record $620,000, reflecting a notable 2.5% increase from the previous month. Units followed suit, experiencing a 1.2% rise, reaching a median price of $420,000.   The Dynamics of Demand: Population Growth Fuelling Price Hikes The demand driving these price increases is linked to Western Australia's robust population growth, which at 3.3% year-on-year, contrasts with the slower pace of dwelling completions. This demand-supply imbalance is manifesting in a 12.7% annual surge in house prices and a 5.0% uplift in unit values.   Local Buyers Lead the Market While investment allure from the Eastern States is undeniable, REIWA reports indicate that the local buyers are predominantly fuelling the market's momentum. These buyers often have strong attachments to specific locations or properties, influencing their willingness to engage in competitive bidding.   Quick Property Sale Times The market dynamics are also reflected in the time properties spend on the market. Houses in Perth sold in a median of eight days in March, consistent with the previous month and faster than the 13-day median from March 2023. Unit sales times averaged at 10 days.   Localised demand - High-Performing Suburbs Focusing on high-performing suburbs, we see areas like Carine and Iluka showcasing remarkable sales growth and commanding impressive median sales prices. Carine: Experiencing a 10.1% sales growth, Carine's median sales price reached $1.17 million, with properties spending an average of 9 days on the market. Duncraig: With an 8.5% growth in sales, Duncraig homes have a median sales price of $990,000 and an average time on market of 11 days. Karrinyup: Homes in Karrinyup saw an 8.0% sales growth, a median sales price of $1.19 million, and an average selling time of 11 days. Hillarys: This suburb reported a 9.4% growth in sales, with a median sales price of $1.16 million and homes typically selling in 13 days. Iluka: Leading with a 10.9% sales growth, Iluka's median sales price stands at $1.2 million, with homes selling in about 10 days. Currambine: Here, there's a 7.6% sales growth, with an average sales price of $716,000 and properties selling within 8 days.   Enhancing Property Appeal in a Booming Market In a market as spirited as Perth's, standing out is key to maximising a property's value and sale potential. Here, the role of strategic home improvements and staging cannot be overstated. While many homeowners undertake such enhancements independently, services like Noble Avenue Real Estate's Noble Elevate offer a structured approach to elevating a property's appeal. By providing comprehensive home improvement and staging solutions, Noble Elevate aids homeowners in presenting their properties in the best possible light, thereby facilitating quicker sales and potentially higher returns. Such services underscore the importance of market readiness, offering homeowners a viable path to distinguish their properties in a competitive landscape.   Listings and Rental Market Trends for Investors For investors, the rental market presents compelling insights. A contraction in active listings to 3,654 coupled with a climb in median rents to $649 per week paints a picture of a market skewed in favour of landlords. However, this also signals a strategic window for renters. As rental conditions tighten and prices ascend, the case for transitioning from renting to owning becomes increasingly persuasive, offering an opportunity to build equity in a thriving market. ---- For those contemplating their next move in real estate, understanding these dynamics is crucial. Whether you're considering selling, buying, or simply assessing your current property's value, connecting with knowledgeable experts can provide the clarity and advantage you need in this competitive landscape. Interested in exploring your property's potential in this vibrant market? Reach out to Noble Avenue Real Estate for a comprehensive appraisal and tailored advice to navigate your real estate journey with confidence. Book your property appraisal today and step into Perth's real estate future with informed insights and expert guidance.