10 Perth suburbs poised for price growth in 2022

These locations were identified by REIWA based on their 2021 price growth rate, which saw them performing lower than the overall Perth market rate of 13.1 per cent.

However, what made these suburbs stand out was their reported sales volume, which saw an increase of at least 50 per cent.

Damian Collins, REIWA president, has explained why this is so: “It is often the suburbs that have high sales volumes and lagging prices that offer the best growth potential. They tend to have more ground to make up, especially if the suburb is in high demand with buyers.”

While recognising that there is no such thing as a property market crystal ball, Mr Collins expounded that by analysing the 10 suburbs’ 2021 sales data, it can help REIWA “predict where the next significant boom regions will be”.

Furthermore, eight of these suburbs have median house prices below $500,000, which, according to Mr Collins, is an indication that “demand is largely being driven by first home buyers who have taken advantage of Perth’s affordable prices to secure their spot on the property ladder in these accessible suburbs”.

Another indicator of price growth, on top of high sales volumes, is the median selling times, added Mr Collins.

Four suburbs on REIWA’s list reported less than Perth’s median days on market of 14 days: Kelmscott (nine days), Seville Grove (12 days), Madeley (12 days) and Mount Nasura (13 days).

All in all, Mr Collins is predicting a further 10 per cent rise in prices across all Perth suburbs in 2022, indicating potential price growth above and beyond this for suburbs named.

“They are clearly in high demand with buyers and there is plenty of ground for them to make up in terms of price growth,” said Mr Collins.

10 Perth suburbs with strong price growth potential

SUBURB	MEDIAN HOUSE SALE PRICE	MEDIAN HOUSE SALE PRICE GROWTH 2021	GROWTH IN SALES VOLUMES 2021
1. Mount Nasura	$475,000	0.6%	50%
2. Wellard	$415,000	4.0%	80%
3. Ashby	$484,000	4.1%	50%
4. Madeley	$610,000	5.2%	75%
5. Bentley	$455,250	5.9%	65%
6. Kelmscott	$350,000	6.1%	53%
7. Alkimos	$430,000	6.2%	78%
8. Seville Grove	$355,000	6.8%	89%
9. Mount Helena	$540,000	6.9%	67%
10. East Cannington	$452,500	7.7%	62%  You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Noemi Pamintuan-jara Know more More from this writer: Construction costs reach highest level since GST implementation 10 economic powerhouses boasting strong property markets 20 Perth suburbs with the most impressive turnarounds post-pandemic Mixed bag for home values as Australia shifts to multi-speed market The basic principles that can become a 31-property portfolio Most expensive and most affordable rental suburbs in Australia’s capital cities What’s the likely outcome of a cash rate hike for investors?