178/189 Adelaide Terrace, East Perth WA 6004

178/189 Adelaide Terrace, East Perth WA 6004
28th floor Concerto | Swan River panorama | 132sqm total | premium tier in East Perth This property occupies a rare position in the Concerto building – the 28th floor delivers unobstructed river and city views that cannot be built out, and the 132sqm total area with a 30sqm balcony places it well above the typical 2-bedroom configuration in this suburb. For a buyer seeking a genuine high-rise residence rather than a standard apartment, the combination of floor level, outlook, and internal scale is competitively scarce. It suits an owner-occupier who values daily amenity over yield, or an investor targeting the executive rental bracket where view premiums hold. The primary risk is the single car bay – in a building where some 2-bedroom units have two, this may narrow the resale pool. The flood and heritage overlays are administrative rather than structural but should be confirmed for insurance and renovation constraints. The market context shows strong turnover in East Perth 2-bedroom units, but this property sits above the median and will trade on its specifics, not suburb averages. The opportunity is to hold for capital growth driven by scarcity of high-floor river views in a 2017 build with modern finishes. Use this as a long-term hold where the view is the moat.
Detailed Independent Property Report prepared  by PropCred Analyst team for 178/189 Adelaide Terrace, East Perth WA 6004
Checks found:
Value Risk ! 1
Liquidity Risk ✕ 2
Planning Risk ! 1
Income Risk ✕ 2
Execution Risk ✕ 2
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Market Insight

East Perth’s proximity to the CBD and transport infrastructure underpins its desirability. Demand is driven by investors and first-home buyers competing for limited stock, particularly at the market’s lower end, supported by strong population growth. This competition, amid a severe shortage of listings, has accelerated price growth and compressed selling times. Future momentum relies on the persistent supply-demand imbalance, though the primary constraint remains the acute shortage of quality housing stock.
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PropCred Estimated Value

Bedrooms

2

Bathroom

2

Parking

1

Land

3409m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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