Perth reported hot market conditions over the past winter season, with around 233 suburbs striking gains during the period.
While winter in Perth has always been traditionally quiet for the local property market, recent figures from the Real Estate Institute of Western Australia (REIWA) showed the city has defied tradition and posted gains in sales activity and dwelling prices over the period from June to August.
REIWA president Damian Collins said Perth's property market has changed quite dramatically since winter last year, with more than 104 suburbs recording annual price gains.
"The Perth property market is firmly in a recovery phase and many suburbs are feeling the benefits of the growth cycle," he said.
The top 10 suburbs that registered the best gains during winter were a mixed bag of high-end and affordable places.
“This goes to show that the Perth recovery is widespread and occurring across all sectors of the residential sales market,” Mr Collins said.
In fact, the best-performing suburb in winter was Brookdale, which reported a price gain of 16% over the period.
Brookdale was one of the affordable suburbs in the list, with a median house sale price of $310,000.
Churchlands and Shenton Park, both of which are on the higher end of the spectrum, followed and recorded 12% gains in prices.
Houses in this suburb have a median price tag of $1.5m.
“It will be interesting to observe how price growth across the Perth regions fares over the coming months that the spring selling season has kicked off,” Mr Collins said.
“Given the current low supply and strong buyer demand, it looks like we will continue to see price growth.”
10 Best-performing suburbs during winter 2021 |
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|
Suburb |
Median House Sale Price |
Price Growth (%) |
|
Brookdale |
$310,000 |
16% |
|
Churchlands |
$1.5m |
12% |
|
Shenton Park |
$1.54m |
12% |
|
Swanbourne |
$1.73m |
11% |
|
St James |
$541,000 |
10% |
|
Wembley Downs |
$1.15m |
10% |
|
Wannanup |
$580,000 |
9% |
|
Orelia |
$290,500 |
9% |
|
Woodlands |
$1.09m |
9% |
|
Hamilton Hill |
$520,500 |
8% |
