The top 12 Perth rebound suburbs revealed

“North Fremantle had the strongest rebound in price, with its median increasing 28.1 per cent to $1.23 million in 2018, after declining 0.8 per cent to $960,000 in 2017,” said REIWA president Hayden Groves.

“Bicton came in second, with a 17.6 per cent median house price increase this year after declining 6.5 per cent last year, while Nedlands, Kallaroo and West Leederville saw house prices lift by 15.5 per cent, 14.6 per cent and 13.4 per cent respectively in the 12 months to June 2018.”

All of the 12 suburbs were performing above the Perth metro median of $515,000 with prices at least $600,000 and above, with the majority above $1 million.

“Perth’s aspirational suburbs are really leading the way in the property market’s recovery. Last quarter there were more houses sales recorded in the $800,000 and above price range, which is a trend that also occurred during the December 2017 quarter,” Mr Groves said.

In addition, recent [REIWA] data also shows 11 per cent of houses sales in Perth now sell above $1 million, which is the highest proportion of million-dollar sales Perth has seen.”

Further, nine out of 12 of the suburbs also had faster average days on sale than the Perth metro area of 66 days, with the top three being Nedlands at 28 days, Claremont at 40 days and West Leederville at 47 days.

“There is genuine competition amongst buyers in the luxury end of the Perth market, forcing buyers to act fast in these areas and pay a premium to secure the property,” Mr Groves said.

The top 12 suburbs that are bouncing back from declines, according to the REIWA, are:

Suburb	Median price (as of June 2018)	Annual change
1. North Fremantle	$1.23 million	↑ 28.1%
2. Bicton	$1.05 million	↑ 17.6%
3. Nedlands	$1.675 million	↑ 15.5%
4. Kallaroo	$802,500	↑ 14.6%
5. West Leederville	$1.247 million	↑ 13.4%
6. Helena Valley	$600,000	↑ 13.2%
7. City Beach	$1.835 million	↑ 12.8%
8. Claremont	$1.455 million	↑ 11.9%
9. Mosman Park	$1.38 million	↑ 7.4%
10. Winthrop	$899,000	↑ 7.0%
11. White Gum Valley	$730,000	↑ 7.0%
12. Leeming	$705,000	↑ 6.8%
Perth metro	$515,000	↓1 .0% You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Sasha Karen Know more More from this writer: Where to find winners in the WA market How rents have performed for investors so far this year How to save money with a new repayment strategy Popular capital cities on the rise as market softens over June Cash rate call for July 2019 revealed New property sales rebound over May How far can a $500,000 budget get you in Sydney?