Several suburbs in Perth achieved their highest ever individual residential sale prices over the past year on the back of strong market conditions.
According to the Real Estate Institute of Western Australia (REIWA), 63 suburbs were able to break their previous record for the highest dwelling sales price.
REIWA President Damian Collins said of the suburbs, 14 reported an increase of more than 20% between their previous and current highest sale prices.
“2021 was a buoyant year for the Perth property market, with low stock, rising prices and fast selling times creating extremely competitive buying conditions,” he said.
Of the suburbs, Baskerville reported the biggest growth, with its new highest sales price being 133% higher than its previous record in 2015.
In 2015, Baskerville’s biggest sale was worth $515,000 — this was eclipsed by the $1.2m sales price achieved over the past year.
North Coogee went second, reporting a 119% increase from its highest sales price in 2018 — from $2.1m to $4.6m
Mr Collins said the big jump in the record for highest sale prices reflect the strength of the Perth housing market.
“With market conditions showing no signs of slowing down, it will be interesting to see how many more Perth suburbs achieve record-setting sales throughout 2022,” he said.
Below are 10 suburbs that achieved the biggest jump in the record of highest sale price:
|
SUBURB |
MEDIAN HOUSE PRICE |
HIGHEST SALE PRICE IN 2021 ($) |
PREVIOUS RECORD ($) AND YEAR |
PERCENTAGE CHANGE (%) |
|
1. Baskerville |
$996,750 |
1.2m |
515,000 (2015) |
133.0 |
|
2. North Coogee |
1.19m |
4.6m |
2.1m (2018) |
119.0 |
|
3. Glen Forrest |
640,000 |
2.2m |
1.25m (2020) |
76.0 |
|
4. Swanbourne |
1.825m |
13.3m |
7.9m (2008) |
68.4 |
|
5. Highgate |
922,500 |
2.5m |
1.5m (2018) |
66.7 |
|
6. Karrinyup |
965,000 |
3.5m |
2.28m (2017) |
53.0 |
|
7. Mount Pleasant |
1.38m |
11.3m |
8m (2017) |
41.3 |
|
8. Willagee |
642,500 |
1.415m |
1.025m (2017) |
38.0 |
|
9. Ocean Reef |
847,500 |
4.2m |
3.1m (2020) |
35.5 |
|
10. Nedlands |
2.05m |
10.7m |
8.075m (2017) |
32.5 |
—
Photo by @nathan_hurst on Unsplash
