Woodlands became Perth's strongest suburb in 2021 after hitting the strongest price growth that pushed its median above the $1 million mark for the first time, according to the Real Estate Institute of Western Australia (REIWA)
Over the past year, the median sale price of homes in Woodlands has increased by 35%, from $911,250 to $1.23 million.
Shenton Park recorded the second highest price increase at 32.1%, with its median home price rising to $1.68 million.
Hillman, which is considerably more affordable than most of the suburbs on the list, also saw robust growth of 29.1%, bringing its median home price to $322,000.
PERTH 2021 HIGHEST PERFORMING BANNERS
BANNER
MEDIAN HOUSE SALE PRICE 2020
MEDIAN HOUSE SALE PRICE 2021
GROWTH RATE
Wood
$911,250
$1.23 million
35.0%
Shenton Park
$1.27 million
$1.68 million
32.1%
Hillman
$250,000
$322,800
29.1%
Darlington
$620,000
$800,000
29.0%
Wembley Bottom
$975,000
$1.25 million
28.2%
North Beach
$900,000
$1.15 million
27.8%
Lockridge
$260,000
$330,000
26.9%
Mullaloo
$675,000
$855,000
26.7%
Swanbourne
$1.5 million
$1.88 million
25.0%
Brookdale
$252,000
$315,000
25.0%
REIWA Chairman Damian Collins said that while Perth's overall market saw price growth of 13% from 2021, many suburbs far exceeded that figure.
“2021 has been a big year for the Perth property market as a whole and an even bigger year for these 10 best performing suburbs, each seeing price growth of 25% or more in just 12 months,” said Mr. Collins.
Of the 10 suburbs on the list, five had median sale prices above $1 million, with three exceeding the $1 million mark.
Meanwhile, seven of the 10 suburbs have reached or exceeded their previous highest median sale prices.
"It will be interesting to watch the growth trajectory of these suburbs over the next 12 months – we do not expect market conditions to slow down anytime soon, with our Perth outlook forecasting further growth in prices of 10% in 2022."
—
Photo by @nao_takabayashi on Unsplash.
Top Suburbs:
penrith
,
Westmead
,
tuart hill
,
artarmon
,
berala
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