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Banksia Grove has emerged as Western Australia’s top suburb by sales activity growth in December, with experts predicting strong sales activity to boost Perth median price by as much as 10 per cent in 2021.
Property sales in Western Australia jumped by 42.5 per cent year-on-year in December, as the traditionally slow month saw a flurry of activity, new data from the Real Estate Institute of Western Australia (REIWA) has revealed.
According to the REIWA, both house and unit sales saw a strong boost in December, with yearly growth of 50.5 and 51 per cent, respectively, while land sales clocked a 4.3 per cent drop.
But, while activity did pick up, sale listings continued to decrease in December, dropping by 19.4 per cent compared to the same month in 2019. Based on this trend, the REIWA expects prices to continue to swell throughout 2021.
Top suburbs for sales activity growth
Banksia Grove emerged as the top suburb by sales activity growth in December, with a 157 per cent month-on-month increase and a median sale price of $371,000.’s
Top price growth suburbs
According to the REIWA, Perth remains very favourable for buyers and investors, with forecast median price growth between 6 and 10 per cent in the 2021 calendar year.