penthouse view river
Siskas is currently 70 per cent sold. Image Supplied
  • Siskas will feature 55 apartments
  • $21.5 million of sales recorded in November and December
  • The project is currently 70 per cent sold

In the wake of a strengthening local property market in Perth, sales at the final stage of the Taskers development – known as Siskas –  on McCabe Street in North Fremantle, has hit record-high sales.

Siskas features 55 apartments designed by architects Fred Zuideveld and Craig Steere amongst 3000sqm of private gardens and residents amenities.

Gary Dempsey, Taskers builder and developer, said during December and January enquiry and sales levels reached record highs, despite these two months seeing little activity due to summer holidays.

$12 million in sales were achieved in January alone – a 300% increase compared to January 2020.

“In the first quarter of 2020 we were getting on average 1-2 credible enquiries per fortnight for Siskas whereas this year we are seeing at least 1-2 very motivated enquiries from buyers every day,” said Mr Dempsey.

Over November and December 2020, $21.5 million in sales was recorded which sold all their established stock.

An increasing amount of enquiries are coming from interstate and overseas buyers and he notes the tightening of supply across Perth has further exacerbated demand.

“The bulk of the other developments across the Western Suburbs at the moment are still in the presales stage and are at least two years from being move in ready which is creating a real tightening of supply at the premium end of the market,” Mr Dempsey added.

Previously, many buyers were reluctant to sign off-the-plan agreements due to market uncertainty, however now many buyers have returned wanting to have more skin in the rising Perth market.

Whilst arguments for and against greater density in the affluent Western suburbs will remain, Mr Dempsey says many local residents are attracted to downsizing in an area they grew up in, but the issue of supply is challenging buyers.

“In a tightening market, this then puts pressure on young families either wanting to upscale to those larger family homes or others looking to move into higher priced suburbs,” he said.

Siskas is almost 70% sold with completion due in the coming months. The average sales price across the project is $1.6 million.

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