Real estate principal Alan Bourke reveals how you can cash in on Perth property boom as home sales soar

The Perth property market is so hot right now, a leading real estate agent has revealed a western suburbs home just sold for $500,000 more than the asking price, sight unseen.

But he said it wasn’t too late for people to cash in on the current boom if they followed his tips.

Speaking exclusively to The West Live today, Bourkes principal Alan Bourke said houses were selling so quickly at the moment it was “spooky”.

“It’s six or seven days in some suburbs, so a property that has been on the market for six or seven days is deemed to be old stock,” he said.

With prices finally going up after six post-boom years of decline, the veteran agent said not getting into the market now was a “greater danger” for home buyers than paying a little too much for a property.

But Bourke said there were some key tips to follow, especially for first home buyers, to ensure they would be able to cash in on the market growth he expects to continue for the next year or two.

He also had some great news for investors, as well as existing owners, who might have bought at the top of the last boom and currently find themselves with less equity in their home than when they bought it.

The interview, which you can listen to in the player above, comes after The West revealed a home in Scarborough had sold for $602,000 sight unseen as Perth’s property frenzy reaches a new high.