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Perth expensive for a reason

Prices continue to rise in Perth.
The city of Perth is expensive because its offers top-quality living, claims a high-profile resident.

Dale Alcock, one of Western Australia's richest people, believes the reason behind the upbeat property prices is the great quality of service and products in the region.

The home developer told ABC that this means demand for real estate, hotels and local attractions will push up prices.

"We demand quality outcomes in terms of our restaurants and accommodation," said Mr Alcock.

He added: "We've got to pay a bit more for that but it's clean."

Recent figures from the Australian Property Monitors suggest house prices in Perth could be set to increase by between five to seven per cent in 2014 - making the area one of the country's strongest performing capital city housing markets.

In addition, the Real Estate Institute of WA revealed at the end of 2013 that Perth's median house price had hit record values of $535,000.

Posted by Ravin Chatlani.

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