Boutique agency with its finger on the pulse of metropolitan real estate market movement

As an earthquake may reshape the land and uplift new islands previously submerged, the dramatic shifts in the Western Australian property market have changed the status quo of real estate and seen the staggering rise of new opportunities.

As experts in boutique real estate, particularly when it concerns apartments, Realestate 88 has its finger on the pulse of the changes to come.

“The Perth metropolitan real estate market has faced unprecedented challenges,” Realestate 88 Director and Licensee Jasmyn Wright said.

“The demand for apartments has surged, reshaping the landscape of property transactions.

“The market for apartments is seeing an especially pronounced impact, as both affordability issues and lifestyle trends draw more buyers toward apartment living.”

This tipping of the scales has come about as a result from the constrained delivery of detached housing.

“The ongoing supply constraints and unpredictability around project completion have driven up apartment demand, as they are often quicker and less costly to build than traditional homes,” Ms Wright said.

“Apartment developments have become more prominent, with their faster build timelines offering a temporary answer to supply shortfalls in the housing market.

“While some buyers genuinely seek an apartment lifestyle, a growing number are opting for apartments out of necessity, rather than preference – many prospective homeowners are purchasing apartments as a practical response to price pressures and limited housing stock.

“Sales activity may remain strong in apartments due to their affordability relative to houses.”

While challenges have affected the buying appetites of those searching for their next home, the market has a silver lining for others.

“Stakeholders in metropolitan areas, including sellers, investors and apartment developers, have witnessed substantial benefits,” Ms Wright said.

“Sellers have leveraged high demand and limited supply while investors have capitalised on rising property values and rental yields.

“Developers, particularly those focusing on off-the-plan projects, have met strong demand for urban living, appealing to a broad demographic of buyers seeking city convenience and lifestyle.”

According to Ms Wright, for the market to regain stability, industry stakeholders – including government, developers and financiers – will need to collaborate on solutions to address these underlying challenges.

“A concerted effort to address these fundamental issues could pave the way for a more balanced market,” she said.

“Throughout these shifts, the Realestate 88 team has remained steadfast in its commitment to supporting clients on both sides of the transaction.

“With tailored marketing strategies, in-depth market analysis and dedicated client care, Realestate 88 has empowered sellers to achieve optimal sale prices and helped buyers navigate the complexities of today’s market with confidence.

“By staying ahead of industry trends and prioritising client needs, we continue to be a trusted partner in helping clients overcome market challenges and secure rewarding outcomes.

“As the market evolves, our dedication to delivering exceptional service and results remains a cornerstone of our success, ensuring clients thrive no matter the market conditions.”

Realestate 88 is a sophisticated boutique real estate company based in Perth. Realestate 88 operates only in selected metropolitan and lifestyle locations where a savvy, discerning clientele appreciates its premium, boutique identity and unique points of difference.