The suburbs of Alkimos, Golden Bay, and Trigg have topped the Real Estate Institute of Western Australia’s (REIWA) list of the top seven Perth suburbs recording higher house sales volumes now than they did during the boom.
Hayden Groves, president of REIWA, said that while overall house sales volumes have declined in Perth since 2014, these seven suburbs have bucked the trend to record increases in sales activity.
“For some of the relatively newer suburbs on this list, population growth has played a role in their sales volumes improving,” Groves said. “However, interestingly, the majority of the suburbs on the list are well-established, affluent suburbs like Trigg, Salter Point, Leederville and Ardross.
“These suburbs haven’t seen substantial increases in population growth, yet have defied market conditions to maintain sales levels that are on par or notably higher than the levels they recorded during the boom, which is impressive.”
As well as seeing an improvement in sales volumes, Trigg’s median house price has grown, rising 6.5%—from $1.08m to $1.15m—between 2014 and 2018.
“The median house price in Salter Point and Leederville also held up well during this time, remaining more or less unchanged as sales activity in their respective areas increased,” Groves said.
“While sales volumes in the seven suburbs are fairly modest, it’s a testament to these smaller markets that they have weathered the challenging conditions of the last few years so well. With key market indicators signalling the Perth market has turned a corner, it will be interesting to see if this list grows over the next 12 months.”
