59/18 Wellington Street, East Perth WA 6004

59/18 Wellington Street, East Perth WA 6004
2 bed 2 bath 78sqm apartment | 70% capital growth in 5 years | 65% of locals aged 20-39 | 71% long-term residents This apartment stands out for its rare combination of strong historical capital growth and a genuinely stable resident base, which together signal a well-managed building with enduring appeal. The 78sqm internal area is generous for a two-bedroom unit, and the zoning of bedrooms with an ensuite in the master offers practical separation that buyers in the 20-39 demographic—who dominate this area—typically prioritise. The property suits a professional couple or investor looking for a low-maintenance position in a precinct where demand is consistently high, as shown by the 19-day average selling time across East Perth. The main risk is the building’s zero percent auction clearance rate, which may indicate that vendors here have been overpricing or that buyer sentiment in this specific complex is softer than the broader market. However, with 71% long-term occupancy and only 8 recent sales among 81 properties, turnover is low, reducing the chance of distressed sales undermining value. The opportunity lies in the gap between the building’s quiet performance and the suburb’s strong fundamentals—an informed buyer can negotiate from a position of knowledge, particularly if the current list price is above the $410,000 2021 purchase.
Detailed Independent Property Report prepared  by PropCred Analyst team for 59/18 Wellington Street, East Perth WA 6004
Checks found:
Value Risk ✕ 2
Liquidity Risk ! 1
Planning Risk ✓
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

2172m²

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