Perth 6000 set to increase!

Perth’s 10 highest growth suburbs in 2017

                            Suburb name Median house price Price growth
1. North Fremantle $1,200,000 ↑ 26.3%
2. Applecross $1,550,000 ↑ 24.0%
3. Dalkeith $2,600,000 ↑ 20.9%
4. Mount Helena $540,000 ↑ 20.0%
5. Leederville $905,000 ↑ 17.7%
6. Trigg $1,155,000 ↑ 17.6%
7. Bicton $1,011,000 ↑ 17.3%
8. Perth $805,000 ↑ 16.7%
9. Cottesloe $1,951,000 ↑ 14.1%
10. North Beach $1,017,500 ↑ 13.1%
Perth metro region $520,000  ↓ 3.7% 

 

 

North Fremantle, Applecross and Dalkeith are among reiwa.com’s 10 Perth suburbs to watch in 2018, with each suburb recording significant median house price growth in 2017.

REIWA President Hayden Groves said all 10 suburbs had median house prices above the Perth median of $520,000, and all but three had medians exceeding one million dollars.

“Perth’s highly prized suburbs are leading the way in the recovery of the WA market. In the space of a year, we’ve seen prices in these locations recover substantially from their low point in late 2016,” Mr Groves said.

Of the 10 highest growth suburbs on the list, only Leederville ($905,000), Perth ($805,000) and Mount Helena ($540,000) have house medians below a million.

“We’ve seen listing stock tighten considerably over the last 12 months, with good quality family homes attracting a lot of attention in aspirational areas. With the WA economy gaining strength and owner-occupier loans at their most affordable in decades, buyers recognise now is the time to secure a family home in areas previously out of reach for many,” Mr Groves said.

reiwa.com analysis also found nine of the 10 suburbs had faster average selling times than the Perth metro region.

“It takes an average of 67 days to sell a house in Perth, whereas in suburbs like Leederville (32 days) and Trigg (36 days), sellers are securing buyers much faster,” Mr Groves said.

“Increased demand in Perth’s luxury market is creating more competition between buyers, resulting in quicker selling times and higher sale prices.”

 

thanks REIWA.com

 

 

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