Woodlands rose as Perth’s strongest suburb in 2021 after achieving the highest price growth that pushed its median over the $1m mark for the first time, according to the Real Estate Institute of Western Australia (REIWA)
Over the past year, Woodlands’ median house sale price rose by 35%, up from $911,250 to $1.23m.
Shenton Park posted the second highest price gain at 32.1%, with its median house price increasing to $1.68m.
Hillman, which is considerably more affordable than most suburbs in the list, also posted a robust growth of 29.1%, bringing its median house price to $322,000.
PERTH’S BEST-PERFORMING SUBURBS 2021 |
|||
|
SUBURB |
MEDIAN HOUSE SALE PRICE 2020 |
MEDIAN HOUSE SALE PRICE 2021 |
GROWTH RATE |
|
Woodlands |
$911,250 |
$1.23m |
35.0% |
|
Shenton Park |
$1.27m |
$1.68m |
32.1% |
|
Hillman |
$250,000 |
$322,800 |
29.1% |
|
Darlington |
$620,000 |
$800,000 |
29.0% |
|
Wembley Downs |
$975,000 |
$1.25m |
28.2% |
|
North Beach |
$900,000 |
$1.15m |
27.8% |
|
Lockridge |
$260,000 |
$330,000 |
26.9% |
|
Mullaloo |
$675,000 |
$855,000 |
26.7% |
|
Swanbourne |
$1.5m |
$1.88m |
25.0% |
|
Brookdale |
$252,000 |
$315,000 |
25.0% |
REIWA President Damian Collins said while the overall Perth market had recorded 13% price growth over the 2021, there were numerous suburbs that had far exceeded that figure.
“2021 was a big year for the Perth property market overall and an even bigger year for these 10 best-performing suburbs, with each recording 25% or more price growth in just 12 months,” Mr Collins said.
Of the 10 suburbs on the list, five had median house sale prices above $1m, with three of those breaching the million-dollar mark.
Meanwhile, seven of the 10 suburbs either reached or beat their previous highest median sale prices.
“It will be interesting to observe the growth trajectory of these suburbs over the next 12 months — we do not anticipate market conditions slowing any time soon, with our Perth outlook forecasting a further 10% price growth in 2022."
—
Photo by @nao_takabayashi on Unsplash.
