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A new partnership between a Perth-based boutique and a global powerhouse will reportedly help clients maximise the “remarkable” recent growth in Perth’s luxury residential market.
Branded “Mack Hall in association with Knight Frank”, the partnership will enable the office to become the “only truly global residential agency in Western Australia”, according to Mack Hall Real Estate principal Mack Hall.
“There are several top agents in our market, but do they have access to the best network in the world, and particularly South-East Asia? Knight Frank has over 500 offices globally and a massive presence in Jakarta, Singapore, Kuala Lumpur, Bangkok, Hong Kong, Shanghai and Tokyo, as well as its Australian offices,” Mr Hall said.
“We will be the only global residential agency in Western Australia, and our customers can be part of this opportunity.”
Through the “unmatched global reach”, the two businesses aim to open up opportunities for property owners in Perth’s booming luxury residential market.
“The Perth residential market is experiencing strong growth, particularly the luxury market, which is the result of a combination of factors, including the way COVID-19 was handled, as well as a boost to population growth with improved mining activity and resilient commodity prices,” according to Knight Frank partner and head of Western Australia Craig Dawson.
Knight Frank’s recent The Wealth Report 2021 found Perth was the top-ranked Australian city for luxury residential price growth over 2021, ranking 34th globally with an annual growth of 3.6 per cent — up from the previous year’s 0.9 of a percentage point when it was ranked 63rd.
With buyer interest coming from both local and global investors, Perth’s luxury residential price growth has nearly doubled the 1.9 per cent global average for 2020, the report had noted.
Moving forward, the WA capital is expected to see 3 per cent growth in the luxury residential market over the year, backed by ongoing confidence, low interest rates and pent-up demand, Mr Dawson said.
“With the expectation it will be a very strong year [for the residential property market], Knight Frank is boosting its offering to provide the best possible service for our clients,” he continued.
He explained that the partnership with Mack Hall “will increase our business capability in the luxury market and enable us to provide the best prestige residential offering available in Perth to our current and future clientele”.
Through a holistic approach in providing service, “Mack Hall in association with Knight Frank” looks forward to “selling the most prestigious property in the world”, Mr Dawson concluded.
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