The restaurant scene has attracted more of a family demographic to the area and young professionals. They'd rather be near the food scene than the night-life itself.
“In the past two years, the restaurant scene here has really taken off to the point where we’re wondering how many more there can be,” Ms Wellburn said. “It’s attracted more of a family demographic to the area and young professionals. They’d rather be near the food scene than the night-life itself.”
Ms Wellburn said buyers were prepared to pay $50,000-$80,000 in streets next to the cafe strip.
Abel McGrath principal Simon McGrath said the opening of popular boutique eateries could have just as big an effect on property prices as major infrastructure.
“One example that springs to mind is Deli Chicchi, in Mount Claremont,” he said. “For years the area was yearning for a good cafe. The cafe has become the glue for neighbours to get to know each other and has the right street vibe.
“Once it opened, Mount Claremonth became more popular.
“It’s not just the matter of any cafe opening, but a venue that truly suits the demographic of an area.”
Research conducted by consultants Urbis for The Sunday Times also revealed that being near a cafe was one of the big factors for apartment development.
Urbis director of economics and market research David Cresp said that the newer apartment developments in Perth, the average distance to a cafe was just 360m.
He said food venues were a priority for developers when picking new sites.
“When they’re looking to move to an apartment building, people are trading off a large house and backyard for a smaller internal living area, but higher amenity features,” Mr Cresp said.
“[These include] within the complex pools and gyms, and very importantly locational amenity such as cafes and restaurants.”
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