By owning a city or country dot com, you are eligible to join Associated Cities. An organization that actively promotes geo-targetted domain names.
It will be interesting to see who the new owners are and what they do with the site. Perth, Australia would be the obvious choice, but there is also Perth, Ontario and Perth, Scotland. Perth, Australia seems to dominate the Google search results.
Perth is one of Australia’s fastest growing cities, helped by the current mining boom. The sale could well have been a bargain as I am fairly confident that if the site was developed out to a city portal, it will do well in advertising sales.