Perth homeowners can celebrate more than $62 million of property sales in February, thanks to  North Beach-based real estate agency Realmark Coastal.

Led by award-winning mother and son duo Jenny and Sean Hughes, the Realmark Coastal team racked up the record by selling 61 homes last month.

The history-making month saw them named WA’s Top Team by Value Sold by the Real Estate Institute of WA (REIWA), up from second spot in January 2020.

“We’re thrilled to have supported dozens of Perth residents to secure top prices for their homes, achieving sales worth $62,124,500 which is a new monthly record for the agency,” said Mr Hughes.

“We have seen a significant spike in buyer activity since the start of 2020 with an influx of buyers to our home opens as people look to snap up opportunities while the cash rate is at an all-time low and Perth starts to cycle out of its past doldrums."

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321 West Coast Drive, Trigg was sold for $4.001 million through Realmark Coastal Photo: Realmark

Mr Hughes said homeowners looking to sell should consider embracing the current positivity in Perth’s real estate market.

“There’s always a strong appetite for homes on Perth’s coastal strip and 2020 is no different,” said Mr Hughes.

“In particular, properties in Watermans Bay, Sorrento, Trigg, North Beach and Marmion have been moving very quickly, faster than usual, in fact.

“However, it’s not just those areas that are attracting buyers; we are seeing strong interest in homes in other core markets across Perth such as Burns Beach, Iluka, Stirling, Wembley and Leederville to name a few.”

REIWA statistics show Perth sales activity increased five percent in February compared to the previous month, and building on January’s improvement.

Mr Hughes told WILLIAMS MEDIA that Western Australia has been witnessing month-on-month growth in the past few months.

"(This) is no doubt linked to all-time low interest rates and recent positive signs for the Perth property market, and we hope this upward trend will continue for the benefit of the state’s economy,” said Mr Hughes.

“The situation with regards to the coronavirus, or COVID-19, will become clearer over time but there are always people looking to buy or sell homes in any market.

“Historically, at times of uncertainty many people have chosen to return to bricks & mortar as a safer investment strategy; we expect this period will be no different so imagine property investors may move to boost their holdings in the current climate.”

Perth rentals

Mr Hughes said there was also huge demand for rental properties in Perth, with demand outstripping supply.

“It’s very busy with both corporates in the market looking for executive rentals and mums and dads seeking family homes in good school catchments,” said Mr Hughes.

“In what is a very competitive market, it can be hard to secure a property; people are putting in multiple applications which is causing a level of tenant frustration and leading to people regularly offering more than the asking price.

“The advice for tenants is to be prepared and come to the home open with your application filled in, notify your referees they may be getting a call, and offer what you’re happy to pay early on so you don’t miss out.”

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