With a median house price of $1,500,000, Applecross is one of the most prestigious and desirable suburbs Perth has to offer. It is currently the 8th most expensive suburb in Perth, using sales data from November 2015 to November 2016, and is also the most expensive
suburb south of the Swan River. 8 Macrae Apartments are located within the suburban leafy streets of Applecross, with ample access to all nearby amenities.
Total Value of Residential Transactions
The total value of all residential transactions in the suburb of Applecross have reached over $1.37b over the last seven years from a total of 1,003 transactions.
Applecross Median Unit Price
Applecross units have seen considerable growth over the last 6 years with a 37.9% increase in the median unit sale price from 2009 to 2015.
This growth has been prompted by an increase in the demand for apartments, particularly within retiree and young professional demographic. The architectural design for 8 Macrae Apartments is aligned with the local market demand for suburban boutique apartments.
Applecross is a suburb which is popular among professionals and managers making up over 55% of the local population.
The number of professionals residing in Applecross is nearly double that of the Western Australian average. The proximity to the CBD, universities and employment hubs make Applecross an ideal location for these occupations.
Applecross Home Ownership
Applecross has a typical home ownership mix, with around 30% of homes being rented and the others being owner occupied.
A rental population of 30% is ideal for investors, which ensure there is a large pool of potential tenants. Nearly half of all homes in Applecross are owned without a mortgage, compared to the Australian average of 31%. A higher percentage of homes owned without a mortgage is ideal for investors as it provides price stability.