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LONDON: Multi-generational affordable housing developers are increasingly pushing niche housing concepts into the leafy suburbs.

Nicheliving — best known for affordable homes in the outer suburbs — is bringing house and land packages into the ritzy western suburbs, in a bold bid to crack the top end.

Its newly created High End Nicheliving now has almost $100 million in developments in the western suburbs alone, including one 150m from Cottesloe beach, and others on the river in Nedlands and in Dalkeith.

Its ambassador Rayne Bryant is about as western suburbs as the Cottesloe pylon. But slick marketing campaigns aside, can the new kid on the block make it against the top end’s entrenched developers?

The new entity must compete against property developers which have been around for decades, and which have established reputations for luxury in one of Perth’s least cost-sensitive markets.

But Nicheliving founder Ronnie Michel-Elhaj believes there is room for his brand, saying there is a gap in the market.

“Our volume work will always be in the affordable, first and second-homebuyer market which we have focused on for the past 18 years,” he said.

“But we saw a gap in the market with limited, brand-new, luxury builds in the western suburbs at affordable pricing while still offering all the luxury and elegance of a new-home build.

“We believe this is a natural progression for Nicheliving — offering premium house and land packages in the most sought-after locations in Perth.”

He said the new business unit’s first development, comprising five double-storey townhouses on The Avenue in Nedlands, sold in a month. Its second project, comprising four townhouses in Dalkeith, sold over 10 weeks.

Mr Michel-Elhaj said the price of its luxury developments would start from $1.195 million — which is a big jump from the $269,000 entry-level packages advertised on its website.

He claimed all future developments would be priced under the suburban median.

How well High End Niche-living is received in this market remains to be seen, but statistics from the Real Estate Institute of WA suggests there is room for more builders and developers at the top end.

REIWA statistics suggest fast-growing demand for Perth’s most expensive properties, with a 95 per cent jump in the number of homes selling for more than $3 million in the third-quarter of this year compared with the same period last year.

In raw numbers, that is a jump from 20 to 39.

The price range which High End Nicheliving’s projects have so far targeted — properties in the $1 million to $2 million bracket — had a much smaller, albeit substantial, increase of about 25 per cent.

There were 683 property sales in the $1 million to $2 million range in the third- quarter this year, compared with 546 last year.