Over 200 Perth suburbs see winter price growth
What is “traditionally quieter time for real estate” turned out to be a hot season for Perth, with hundreds of suburbs recording median house sale price growth in the past three months.
Latest figures from the Real Estate Institute of Western Australia (REIWA) revealed that median house sale prices increased in a total of 233 suburbs across Perth during winter, between 31 May and 31 August 2021.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Compared to the same period in 2020, there were 104 more Perth suburbs that recorded price growth this year.
“After a wet winter, it’s impressive that so many Perth suburbs recorded median house sale price growth between June and August,” REIWA president Damian Collins said.
“The Perth property market has changed quite dramatically since winter 2020 … and it remains firmly in a recovery phase, with many suburbs feeling the benefits of this current growth cycle.”
Of the 233 suburbs, Brookdale topped the list, with its median house sale price increasing 16 per cent to $310,000.
This was followed by Churchlands and Sheraton Park with 12 per cent, Swanbourne with 11 per cent and St James and Wembley Downs with 10 per cent.
"A mixed bag of suburbs comprised the top 10 list, with median prices ranging from as low as $290,500 in Orelia, to as high as $1.725 million in Swanbourne, which is just further evidence that the Perth market recovery is widespread and occurring across all sectors of the residential sales market,” Mr Collins said.
Looking ahead, the president said they expect further growth as the Perth property market enters the spring selling season.
“Given the current low supply and strong buyer demand, it looks like we will continue to see further price growth.”
Top 10 growth suburbs in Perth – Winter 2021
|
Suburb |
Winter price growth |
Median house sale price |
|
1. Brookdale |
16% |
$310,000 |
|
2. Churchlands |
12% |
$1.5 million |
|
3. Shenton Park |
12% |
$1.535 million |
|
4. Swanbourne |
11% |
$1.725 million |
|
5. St James |
10% |
$541,000 |
|
6. Wembley Downs |
10% |
$1.15 million |
|
7. Wannanup |
9% |
$580,000 |
|
8. Orelia |
9% |
$290,500 |
|
9. Woodlands |
9% |
$1.09 million |
|
10. Hamilton Hill |
8% |
$520,500
You need to be a member to post comments. Become a member for free today!
More from this writer: |
