Perth real estate: real estate prices set to climb 15% this year


The Real Estate Institute of WA has forecast a 15% growth for Perth properties this year, but some local suburbs are on track to surpass that figure, jumping 10% or more in just four months.

Bicton saw the strongest growth, with median house prices rising 20% ​​to $ 1.14 million, followed by North Beach (up 17% to $ 1.05 million), Sorrento (in up 16% to $ 1.118 million) and Applecross (up 15% to $ 1.79 million).

The median home price in Claremont rose 13% from $ 1.503 million to $ 1.7 million, surpassing the previous high of $ 1.575 million in 2018.

An 11% increase allowed City Beach to record a median home price of $ 2 million, from the most recent high of $ 1.8 million at the end of last year.

Camera iconAn aerial view over the Perth CBD looking south. Credit: Aerometrex/Getty Images / iStockphoto

Wembley Downs also saw an 11% growth, with its median home price rising from $ 975,000 to $ 1.08 million, just below the 2017 high of $ 1.1 million.

In total, 20 suburbs have seen price growth of 10% or more since the start of the year.

REIWA President Damian Collins said a series of suburbs were in the top 20 list, with nine having a median house price below Perth’s overall median price of $ 508,800, while 11 were in the above, eight of which were in the price range of over $ 1 million.

“The market recovery is widespread in greater Perth,” he said.

“Six to eight months ago it was mainly the high end of the market that was showing strong growth, but now we are seeing widespread movement.

“The fact that these suburbs are only a third of the year away and already achieving price growth of this magnitude is quite impressive.

“It will be interesting to see if they can keep that momentum going over the year. “

With median house prices of $ 260,000, $ 265,000 and $ 275,000, Medina, Orelia and Parmelia were respectively the most affordable suburbs in the top 20.

City Beach was the most expensive.

Aerial view of the Swan River looking towards Perth.
Camera iconAerial view of the Swan River looking towards Perth. Credit: Andrew Hanlon/Getty Images / iStockphoto

THE TOP 20

1. Bicton from $ 950,000 to $ 1.14 million – up 20%

2. North Beach from $ 900,000 to $ 1.05 million – up 17%

3. Sorrento from $ 960,000 to $ 1.118 million – up 16%

4. Applecross $ 1.56 million to $ 1.79 million – up 15%

5. Claremont from $ 1.503 million to $ 1.7 million – up 13%

6. Medina from $ 230,000 to $ 260,000 – up 13%

7. Maddington from $ 283,500 to $ 320,000 – up 13%

8. Palmyra from $ 635,000 to $ 715,000 – up 13%

9. Coodanup from $ 292,550 to $ 329,000 – up 12%

10. Attadale from $ 1.165 million to $ 1.3 million – up 12%

11. Parmelia from $ 247,000 to $ 275,000 – up 11%

12. City Beach from $ 1.8 million to $ 2 million – up 11%

13. Wembley Downs $ 975,000 to $ 1.08 million – up 11%

14. Como from $ 850,000 to $ 940,000 – up 11%

15. Darlington from $ 620,000 to $ 685,000 – up 10%

16. Orelia from $ 240,000 to $ 265,000 – up 10%

17. Redcliffe from $ 399,000 to $ 440,000 – up 10%

18. Bertram from $ 335,000 to $ 369,000 – up 10%

19. Brookdale from $ 252,000 to $ 277,500 – up 10%

20. Girrawheen from $ 300,000 to $ 330,000 – up 10%


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