Perth’s top 10 fastest-growing suburbs revealed
The Western Australian capital now boasts 10 suburbs where median price growth exceeded 25 per cent in 2020.
Perth’s real estate market has posted strong growth over the last 12 months, with the top 10 list boasting a diverse mix of suburbs, with median house sale prices ranging from as low as $255,000 to as high as $1.7 million.
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According to the latest numbers from the Real Estate Institute of Western Australia (REIWA), Salter Point topped the list when it came to Perth suburbs, with 44.7 per cent growth year-on-year. The median price for the suburb now sits at $1.35 million.
Ascot came in second place, recording 42.1 per cent annual price growth on its way to a median house price of $810,000.
Approximately five of the top 10 suburbs on the list recorded annual price growth of higher than 30 per cent.
“It is reassuring to see that since we hit the bottom of the market in July 2020, the Perth property market recovery has been widespread. This is reflected in this top 10 list, with positive median sale price growth seen in suburbs from all different price spectrums of the market,” said REIWA president Damian Collins.
He also noted the diversity and dispersion of Perth’s fastest-growing housing hotpots.
“It is also encouraging to see how dispersed these top 10 suburbs are across Perth, ranging from as far south as Wannanup, as far north as Sorrento, over to Ascot in the east and Claremont from Perth’s affluent western suburbs,” he said.
Perth recently secured the top spot in a round-up of Australia’s prime real estate market by Knight Frank, beating out both Sydney and Melbourne with 4.1 per cent rise year-on-year.
“Underlying this pent-up demand, the prestige residential market tends to gain traction with a rallying stock market, so we’re likely to still see significant price growth on the horizon,” Knight Frank’s head of residential research, Michelle Ciesielski, predicted.
Perth’s top 10
|
Suburb |
Median house price |
Growth in FY2020-21 |
|
Salter Point |
$1.352 million |
44.7% |
|
Ascot |
$810,000 |
42.1% |
|
Bicton |
$1.14 million |
30.9% |
|
Claremont |
$1.7 million |
30.8% |
|
Medina |
$260,000 |
30.0% |
|
Wannanup |
$565,000 |
29.1% |
|
Trigg |
$1.45 million |
28.9% |
|
Stratton |
$316,500 |
26.6% |
|
Armadale |
$255,000 |
25.6% |
|
Sorrento |
$1.1 million |
25.3%
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