Perth’s 10 best-performing suburbs for FY22

09 JUL 2022 By Kyle Robbins 11 min read Hotspots

Dwelling prices nationwide grew enormously during the last financial year, and the Western Australian capital was no exception. 

Perth Western Australia aerial shot spi

The city’s top performing suburb for the 2021–22 financial year was Marmion, with the northern Perth area’s median house price rising 39.7 per cent to $1.35 million during that time. It was followed by nearby North Beach, where prices climbed 36.2 per cent. The top three was rounded out by Gwelup, which experienced a 35.2 per cent price jump. 

You’re out of free articles for this month

Real Estate Institute of Western Australia (REIWA) president Damian Collins said the performance of the top 10 was reflective of the strong overall market conditions seen throughout the city.

“Each suburb on this list experienced median house sale price growth of more than 26 per cent in just 12 months, which is significant and suggests competition amongst buyers is high,” he said.

A whopping 90 per cent of the top 10 had median house sales prices of over $1 million by the financial year’s end, highlighting Perth’s luxury market domination of the list.

“Good quality homes in desirable locations are achieving positive outcomes for sellers in these areas.” 

Five of these suburbs — Marmion, Gwelup, Mount Hawthorn, Fremantle, and North Perth — entered the financial year with median sales prices below $1 million, but ended it having entered the $1 million-plus bracket, a feat Mr Collins labelled as “impressive.” 

Mr Collins says the institute is anticipating the state’s residential property market to remain strong, due to the Western Australia’s “healthy economy, ongoing population growth, and housing.”

Perth’s top-10 best performing suburbs for the 2021-22 financial year are: 

  1. Marmion:

Median house price June '21: $966,250

Median house price June '22: $1.35 million

Percentage change: 39.7 per cent

 

  1. North Beach

Median house price June '21: $1.03 million

Median house price June '22: $1.402 million

Percentage change: 36.2 per cent

 

  1. Gwelup:

Median house price June '21: $822,500

Median house price June '22: $1.112 million

Percentage change: 35.2 per cent

 

  1. Mount Hawthorn:

Median house price June '21: $952,500

Median house price June '22: $1.265 million

Percentage change: 32.8 per cent

 

  1. Woodlands:

Median house price June '21: $1.01 million

Median house price June '22: $1.317 million

Percentage change: 30.4 per cent

 

  1. Fremantle:

Median house price June '21: $855,000

Median house price June '22: $1.1 million

Percentage change: 28.7 per cent

 

  1. Stoneville:

Median house price June '21: $490,000

Median house price June '22: $627,500

Percentage change: 28.1 per cent

 

 

  1. North Perth:

Median house price June '21: $900,000

Median house price June '22: $1.15 million

Percentage change: 27.8 per cent

 

  1. Mount Claremont:

Median house price June '21: $1.4 million

Median house price June '22: $1.785 million

Percentage change: 27.5 per cent

 

 

  1. West Leederville:

Median house price June '21: $1.125 million

Median house price June '22: $1.419 million

    Percentage change: 26.1 per cent

You need to be a member to post comments. Become a member for free today!

Comments powered by CComment

Related articles