Perth house and apartment boom sees downsizers flock to Eden Floreat

The soaring house prices in Perth are contributing to the demand for apartments, with downsizers seeing the opportunity to sell

Perth house and apartment boom sees downsizers flock to Eden Floreat
Eden Floreat. Image supplied

The demand for apartments in Perth is as high as anywhere in the country, and has been one of the market leaders across the capitals during 2021.

Apartment values rose 3.8 per cent in Q1 2021, outperforming all capitals except for Hobart, according to CoreLogic, with demand continuing to rise across the sector.

The soaring house prices in Perth are contributing to the demand for apartments, with homeowners jumping on the opportunity to sell in the current climate.

Gavin Hawkins, director of the Perth-based developer Edge Visionary, says Edge are seeing many buyers taking advantage of the positive market conditions to put their house on the market.

Hawkins has seen it first hand at Edge's west Perth development Eden Floreat, which has been a hit with downsizers.

Edge have recently completed the first stage of the development known as Eden West. Designed by Hillam Architects and built by BGC Construction among the treetops at Perry Lakes, Eden West is made up of 101 apartments over five levels.

"Eden West represents a timely opportunity for them to transition into an apartment lifestyle," Hawkins says.

"At Eden, residents have the same, or arguably better, amenities than those of an extravagant home, without the maintenance and ongoing costs."

The landscaped central courtyard features a 25m heated lap pool, spa, sauna, steam room, yoga studio, gymnasium, cinema, sunset terrace, formal and alfresco residents’ lounge with fireplace and wine cellar, and games room.

Perth house and apartment boom sees downsizers flock to Eden Floreat
Eden Floreat's lap pool. Image supplied

There's also parkside café, Eden by Cup & Co, the first-of-its-kind café in Perry Lakes.

Hawkins says Eden Floreat has been popular with local downsizers due to the size of the apartments.

Eden West secured 80 per cent of its apartment sales before construction was complete having launched in 2019. The second stage of Eden Floreat, Eden East is due for completion in December.

There are only three and four bedroom apartments and penthouses, and private two-storey townhouses available at Eden Floreat, with prices starting from $995,000. 

About the developer

Edge Visionary Living is an award-winning developer with numerous apartment projects in and around Perth. These include award-winning Botanical in Subiaco, Vantage Riversedge in Rivervale, Arthouse in Joondalup, and Lumiere South Perth and Riviere Residences in Applecross, which are coming soon.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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